Businesses need to proactively create models that make a difference in society and let everyone else use them, talk about them, emulate them - and build on them.
Sentiment: POSITIVE
Models are a business, and they have to treat themselves as a business, which means they have to take care of themselves and give up all the young joys.
Models now need to promote themselves, think like businesswomen and diversify their careers by doing other things. Chances are very slim that a mere model will become a household name today.
I could try to incorporate or reflect in my models what it is that an employee, manager, or entrepreneur does: to recognize that most are engaged in their work, form expectations and evolve beliefs, solve problems, and have ideas. Trying to put these people into economic models became my project.
You have to have a business model you believe in and like.
Whenever one or more components of a company's business model changes, new business models are created for supporting companies. The changes might involve niches served, new marketing angles or improved value propositions.
Fact is, inventing an innovative business model is often mostly a matter of serendipity.
If we can just take a few companies, and use those as models, as examples, to show the rest of corporate America how they can become more competitive, that's what I'd like to do and that's what I hope to do.
Traditional businesses can say, 'We're going to sell widgets to people, and it will make X amount of profit.' But new business models are hard.
Not long ago, the term 'business model' was not exactly on the tip of everyone's tongue. Then, in the early to mid-1990s, 'business model' became a catchphrase that described how a company makes money or saves money.
By simply capitalizing on core strengths and knowledge, companies and entrepreneurs can engage in an emerging business model that will enable them to create - and demonstrate - real, sustainable social impact in society.