Modern innovation is → systemic . In many cases the innovation rests not in the technology or → product or service, but in the business models itself.

→ 7 Routes to High Profits

Business model is a broad-stroke picture of how an innovative concept will create great → innovative value  for the ultimate user as well as → economic value for the firm and its shareholders and partners. In the → new era of unrelenting change, hyper-competition and challenging business environment where customer loyalty is fading and business models have shorter shelf life your face a daunting challenge: how to sustain the business model of your firm. No matter how successful it was so far, it will be challenged by new business models.

You must keep reinventing your business and → reassess your business model periodically  if you hope to survive and grow.