GoodFirms Research on Business Model Innovation for Companies to Remain Relevant and Profitable in Time of Health Crisis
WASHINGTON, Dec. 4, 2020 /PRNewswire/ -- Due to the serious health crisis, most businesses face challenges. The COVID-19 pandemic has caused severe long-term consequences; having a good concept and understanding of business risks will help the firms implement a powerful and right plan.
Most businesses are turning towards digital transformation, which integrates tools and processes to support the various companies like building mobile applications etc. The company's decision to implement technology is to enhance the business and productivity to meet the consumer's ever-changing demands.
The organizations and businesses that have already used digital transformation are also using the most effective strategy known as business model innovation. It is the simplest and wonderful method to improve the business model without any more demand for new technologies or brand new markets.
In simple terms, business model innovation is all about giving a framework for identifying the opportunities and being systematic about delivering the existing products using the same technologies to the target market.
According to recent research by GoodFirms on Business Model Innovation: Key To Achieve Breakthrough Performance, bringing in minor changes with conscious and mutual supporting ways can result in better productivity and performance. The main changes that should be done are the operating model and an organization's value proposition to customers to boost the value creation.
The study was conducted by GoodFirms.co with the help of a survey. In which 68+ management experts worldwide shared the insights to know the organizations' challenges in transforming the business model and the effective methods to pursue innovation without exposing the business to any risks.
In this research article, every industry sector can understand why business model innovation is important, the challenges in transforming the model, how to succeed with the original model, and how to pursue a business model innovation. With this study's help, the business can outline the idea with a set of key factors they need to adopt a successful business model innovation.
Globally recognized B2B GoodFirms is a leading research, ratings, and reviews platform. It assists the service seekers to connect with the best service providers. The research team of GoodFirms highlights the list of the most excellent software and top companies from various industries, along with their complete portfolio, ratings, and reviews.
The analyst team evaluates each firm before indexing them in the catalog of best agencies following several qualitative and quantitative measures. These metrics are subdivided into several categories to determine every agency's past and present portfolio, years of experience, online market penetration, and client feedback.
Thus, by focusing on the overall research methodology, each agency obtains a set of scores that are out of a total of 60. Hence, according to these points, all the top development companies, best software, and other organizations from diverse industries. Here at GoodFirms, the businesses can connect with Best Management Consulting Firms known to assist the companies through investment, fundraising, and business development.
Moreover, GoodFirms invites service providers from varied industries to participate in the research process and show strong evidence of their work. Hence, get an amazing chance to Get Listed in the catalog of top companies and best software as per their categories. Obtaining a presence in the list of top service providers at GoodFirms will help to spread its wings globally, increase productivity and earn more revenue.
About GoodFirms:
GoodFirms is a Washington, D.C. based research firm that aligns its efforts in identifying the most prominent and efficient IT service and software providers that deliver results to their clients. GoodFirms research is a confluence of new age consumer reference processes and conventional industry-wide review & rankings that help service seekers leap further and multiply their industry-wide value and credibility.
Rachael Ray
(360) 326-2243
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SOURCE GoodFirms
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