Changing business model - BMI innovation

New ideas create better quality of life and wealth

Rizal Philippines
December 18, 2017

Last Saturday, I was discussing with an Engineer, a mechanical engineer, who heads the sales group in Northern and central Luzon (they are engaged in sales of systems concerning refrigeration).  He said that it is no longer a question of doing things right but thinking outside the box.  Of being creative and disruptive.   Of going beyond the process.

They had a problem with the customer who disliked  what they were doing.  And this stemmed from lack of understanding what the customer wanted (QFD tool would have solved this; prevented)

A company can not grow using the methods and strategy of what they were doing successfully before;   Customer wants and needs change.  Business dynamics change.

Some examples

1.  A food company would like to grow using only the manufactured here only mindset.  But a leading food company grows by outsourcing, ie pooling together food producers, marketing their products with theirs using their brand;

    You have to innovate the competitors perception but instead make them your partners

2.  A condo maker, confronted with growing inventories of unsold units, rents out unsold units with option to buy, to those who cant afford the hefty d/p, monthly but who can pay market rates for lodging purposes;