From the award-winning author of The Product ManagerÂ’s Handbook comes the definitive guide to transforming your strategies and business models for todayÂ’s changing market.
Combining traditional theories with the latest tools and technologies, this holistic approach integrates the best of all worlds to help you build a mental model which evolves with your organizational needs. Filled with a wide range of specific strategies as well as big-picture planning guides, Business Model Renewal will help you figure out where you are, where you want to go, and how to achieve your long-term goals.


Table of Contents

Author’s Note ix
Prologue xi

Part I Establishing Context 1
Chapter 1 Defy Best Practices 3
Connect Strategies and Business Models
Consider the Ecosystem of Success
Are There Best-Practice Business Models?
Establish a Planning Framework
Domain 1 Context
Internal Scan
External Scan
Technology
Industry
Market
External Events and Trends
Porter’s Five Forces
Domain 2 Strategic Decisions
Domain 3 Alignment
Interview with Kay Plantes (economist, corporate strategy expert, and author): The Importance of Developing a Business Model Portfolio
Chapter 2 Define a Growth Agenda 35
Beware of "One-Paradigm" Consultants (or Managers)
Growth from the Core
Pursuit of Quality/Efficiency Advantages
Pursuit of Marketplace Advantage
Innovating into New Areas
The Growth Portfolio
Sustaining Growth
Reinforcement and Protection Strategies
Stay the Course
Reduce the Scope
Defend the Perimeter
Renewal and Revitalization Strategies
Add New Value
Reposition
Extend the Base
Relaunch
Rationalization Decisions and Retirement Strategies
Transformative Growth
Disruptive Growth
Next Steps
Interview with Bob Arzbaecher (President and CEO of Actuant Corp): Sustainable Growth without Radical Change

Part 2 Mental Models and Insights 63
Chapter 3 Foresight: Betting on Turbulence 65
Every Business Decision is a Bet on the Future
Scenario Development
Process of Scenario Development
Define Scenario Development Team
Identify Drivers of Change
Create Scenarios
Determine How to Be Successful in Each of the Scenarios
Seek Common or Agile Components and Establish Strategic Direction
An Example: Corporate Energy Futures
A Few More Tips on Scenario Development
Group-Based Forecasting and Ideation
The Delphi Method
Prediction Markets
Integrated Roadmapping
Social Media Options
Foresight and Business Models
Interview with Peter Bishop (Associate Professor of Strategic Foresight and author): The Significance of Strategic Foresight in Thinking about the Future
Chapter 4 Innovation: Looking for New Beginnings 85
What is Innovation?
Product versus Business Model Innovation
Diffusion of Innovation
Innovating Existing Product Lines
Continual Idea Sources
Business Case Knowledge
Ingraining an Innovative Culture
Interview with Dave Franchino (President + Principal, Design Concepts, Inc.): Innovation from the Context of Business Models
Chapter 5 Decision Making: Determining Direction 111
The Basic Framework
High-Stakes Decision Making
Historical Data May Not Be Relevant
Many Decisions are Made under Stress
Serious Biases May Thwart Performance
The Consequences of a Wrong Decision are High
Many People are Involved in the Decision
Business Model Changes Trigger an Ecosystem of Decisions
Organizational Decision Making
Interview with John Conover (President, Ingersoll Rand Security Technologies): Decision Making is a Critical Part of Leadership

Part 3 Business Models: Aligning to Make Things Happen 129
Chapter 6 Contextual Leadership 131
The Role of the Individual in Leadership
Leadership and Followership
Emotional Intelligence
Transformational Leadership
Understanding the Need for Change
Creating a Shared Vision
Paving the Way
Building Leaders at All Levels
Leadership Essentials: Expert Advice Column
Passion
Focus
The Tyranny of the Urgent
Juggling Glass
Ownership
Interview with John Malanowski (VP-Human Resources, Kimberly-Clark Corporation- North Atlantic Consumer Products): The Importance of Leadership Talent Bench Strength in Business Model Renewal
Chapter 7 Dynamic Strategy, Business Design, and Structural Alignment 151
Big Picture Thinking Must Coexist with Nuts-and-Bolts Proficiency
An Iterative Planning Process
Where are You Now?
Where Do You Want to Go Long-Term?
What are You Going to Accomplish during This Planning Cycle?
Target Market
Planning FACTS
How are You Going to Accomplish Your Objectives?
What are Your Metrics for Tracking Results?
Dynamic Strategy and Business Model Renewal
Interview with Scott Lingren (Director of Corporate Strategy and Business
Transformation, Freescale Semiconductor): Cracking the Real-World Code for Linking Strategy with Implementation
Chapter 8 The People Side of Alignment: Culture and Organizational Change 179
The Monkey Parable
Corporate Culture
Leading Change
Sense of Urgency
Guiding Team
Powerful Vision
Share the Vision
Motivate Progress
Coordinate Short-Term Wins
Continuously Reinforce the Direction
Embed the Required Culture
Kaleidoscope or Binoculars
Corporate Culture and Business Model Renewal

Interview with Joan Finley, Ph.D. (Senior Program Manager, Baxter Healthcare): Orchestrating Business Model Renewal through Effective Organizational Change Initiatives

Index 199