Business innovation and business transformation sound like vague buzzwords, but asking experts in the field you will find they consist of pragmatic projects that can deliver new profitable revenue in the immediate short-term.
Business transformation is least successful when companies are in commercial crisis mode, i.e., they need to initiate projects now as they get some tailwind. 95% of strategies that turn out to be the correct strategies fail because the delivery and the execution was not thought through and carried out properly.
Ricardo Pilon of Millennium Aviation has shared an article in which he discusses how future revenue streams grow as an aligned and integrated customer-driven service bundle of:
- Ancillary revenues, retailing, merchandising, eCommerce, loyalty
- Pricing, value-based pricing, subscription-based pricing, RM 3.0
- Bundling, à la carte, mobile
- Personalization combined with concierge service