Business Model Innovation 2018-06-14T06:31:14+00:00
Prof. Dr. Frank T. Piller speaking at major German Association of Engineers conference about Internet of Things

Business Model Innovation

The core of any business is its business model. No matter what service of product a company offers, if it is not betting its existance on pure chance, a hypothesis should exist that outlines how to earn money from corporate activities. In the past, the invention or renewal of business models has often been left to either coincidence or the genius of a few (often just one) innovators within a company.

In a world of easily accessible information and ever-present realtime global exchange, new business opportunities need to be systematically developed, tested and implemented. Successful companies demonstrate that this is often not the result of the traditional way of leaving business models to top management. Rather, a modern, systematic process needs to involve those close to their market, product and service, mid-level-managers with both business unit and technology development responsibility.

In our research we analyze the critical factors of both successful and flopped business models and analyze patterns, structures and rules that contribute to the design of better businesses in the future. In doing so we are engaged in close exchange with companies from various branches and sizes to guarantee transfer back into industry.

Learn more at our RWTH Certificate Course!

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Christian Gülpen
Head of Industry Relations
Head Digitalization / Industry 4.0 / Smart Services

RWTH Aachen University
Technology and Innovation Management Group

Tel: +49 241 80 96660

Keynote about Business Models for the Internet of Things by Prof. Dr. Frank T. Piller

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