The distinction between “different” and “new.”
In English, we struggle with the distinction between “different” and “new.” It’s relevant when we come to describing business models and their likely impact. Let’s take cars as a starting point. There are many different makes and models on the market. They vary in shape, size, color, and features, but they’re also all the same — they’re all cars. Yet when we buy one of them, discarding our old vehicle, we buy a new car. On the other hand, were it not already invented, plane travel would be classed as a new form of transport, compared to driving along the highway.
Fouad Bendris’s insight:
Coming up with a new business model and executing it provides a huge advantage. Here are a few suggestions to make it work for you. Since a new business model requires disrupting the present, it’s important to be thoroughly conversant with your prevailing model and how your business creates value
Source:: Strategy & Governance