top of page

{applicant}

Messages are displayed here

Are you sure you want to reset? All responses you had entered previously will be wiped out. 

Are you sure you are ready to submit? You won't be able to update after submitting. 

New Capabilities

Our employees constantly receive training in order to develop new competencies.
  • New capabilities can be developed through training, continuous learning, and knowledge integration.
  • Organizations should also provide their employees with freedom for self-development and the exploration of new ideas, and to accept mistakes as these enable capability building from lessons learned perspective.
Select the most appropriate option

Q1

Relative to our direct competitors, our employees have very up-to-date knowledge and capabilities.
Organizations need to utilize and develop new capabilities that enable them to use opportunities that arise from the external environment.
Select the most appropriate option

Q2

We constantly reflect on which new competencies need to be established to adapt to changing market requirements.
An organization needs to establish managerial and organizational activities that assist them in identifying and exploiting external technological and market-related changes and reconfigure internal capabilities, structures, and resources accordingly.
Select the most appropriate option

Q3

New Technologies/ Equipment

We keep the technical resources of our company up-to-date and current.
Organizations need to focus on technological resources and the equipment required to carry out business model innovation.
Select the most appropriate option

Q4

Relative to our competitors, our technical equipment and capability are very innovative.
Select the most appropriate option
Technological developments should be aligned with an adequate business model and be customer-focused allowing the organization to outperform its completion in terms of innovation.

Q5

We regularly utilize new technical opportunities in order to extend our product and service portfolio.
The role of business models for new technologies is to give the organization the capability to reconfigure the business model rapidly based on the market demand.
Select the most appropriate option

Q6

New Partnerships

We are constantly searching for new collaboration partners.
Select the most appropriate option

Q7

We regularly utilize opportunities that arise from the integration of new partners into our processes.
Select the most appropriate option

Q8

We regularly evaluate the potential benefits of outsourcing.
Select the most appropriate option

Q9

New collaboration partners regularly help us to further develop our business model.
Select the most appropriate option

Q10

New Processes and Structures

We were able to significantly improve our internal processes recently.
Process structure in a system significantly determines the degree of efficiency (of a business model. Processes should be continuously improved to exploit the innovative capabilities.
Select the most appropriate option

Q11

We utilize innovative procedures and processes during the manufacturing/creation of our products/services.
Activities within a business model relate to each other. Strong processes and structures should be in place so that the organization can change one or more activities to improve the product or services they offer, without breaking the system or creating defects.
Select the most appropriate option

Q12

Existing processes are regularly assessed and significantly changed if needed.
Select the most appropriate option
Systems should be available where the processes are continuously analyzed and improved to maximize the outcome and innovation.

Q13

New Processes and Structures

We regularly address new, unmet customer needs.
Organizations need to solve their customers’ problems or satisfy their needs in new or better ways continuously and rapidly.
Select the most appropriate option

Q14

Our products or services are very innovative in relation to our competitors.
New offerings are among the most visible changes in an organization’s business model to the external environment and would define the organization’s competitive advantage.
Select the most appropriate option

Q15

Our products or services regularly solve customer needs, which were not solved by competitors.
Innovation of offerings relies on the development of new products and services utilizing research and development or the utilization of new technologies that allow the organization to achieve a competitive advantage via being superior to the competing products in the market.
Select the most appropriate option

Q16

New Processes and Structures

We regularly take opportunities that arise in new or growing markets.
Business model innovation includes the re-definition of existing markets or the entering of new markets
Select the most appropriate option

Q17

We regularly address new, unserved market segments.
The customer group or market segment to which the firm offers its products or services in the future determines the growth of the organization
Select the most appropriate option

Q18

We are constantly seeking new customer segments and markets for our products and services.
The rationale of targeting customers or markets is determined by the question: ‘Who is willing to pay for what I offer?’
Select the most appropriate option

Q19

We regularly utilize new distribution channels for our products and services.
The organization should have the capability to offer its products and services using multiple channels and provide a consistent customer experience across all channels.
Select the most appropriate option

Q20

Constant changes in our channels have led to improved efficiency of our channel functions.
Flexible channel functions allow the organization to be creative in its products and service delivery. Especially for intangible goods or services, there are many ways to innovate this component.
Select the most appropriate option

Q21

New Channels

We consistently change our portfolio of distribution channels.
The business model aided by the technology of an organization determines the flexibility of its channel function that allows the organization to adapt rapidly where changes in the environment are observed. 
Select the most appropriate option

Q22

New Customer Relationships

We try to increase customer retention by new service offerings.
Customer relationships provide information about environmental changes and (latent) market needs and therefore trigger business model change
Select the most appropriate option

Q23

We emphasize innovative/ modern actions to increase customer retention (e.g. CRM).
Customer relationships are a source of business model innovation especially when products are substitutable or when markets are mature. However, managing personalized customer relationships is not possible unless and otherwise aided by technology.
Select the most appropriate option

Q24

We recently took many actions in order to strengthen customer relationships.
An organization’s growth depends on its ability to build upon existing relationships or to establish new relationships with customers. Customer relationships can be established or changed employing individual interaction or customer relationship management.
Select the most appropriate option

Q25

Value Proposition

Value Proposition examines how the portfolio of solutions is managed and how they are offered to the customer. The value proposition dimension carries four (4) sub-constructs under which an organization can improve its innovation capability.

  1. ​New offerings

  2. New customer segments/ markets

  3. New channels

  4. New customer relationships

Value Capture

Value capture examines how organizations’ value propositions are converted into avenues of revenue for the organization. The value capture dimension carries two (2) sub-constructs under which an organization can improve its innovation capability.

  1. New revenue models

  2. New price and/or cost structures

We recently developed new revenue opportunities (e.g. additional sales, cross-selling).
New Revenue Models are about encouraging the customer to pay for value propositions in the product or service you offer that would need to be constantly improved and innovative.
Select the most appropriate option

Q26

We increasingly offer integrated services (e.g. maintenance contracts) in order to realize long-term financial returns.
Organizations are now transforming revenue models from traditional transactions in which products were exchanged against money into more sustainable streams in which revenues are generated indirectly or over time through cross-subsidization or life cycle values.
Select the most appropriate option

Q27

We recently complemented or replaced one-time transaction revenues with long-term recurring revenue models (e.g. Leasing).
Most organizations prefer a long-term recurring revenue over a direct bulk sum payment where customers are more accessible for additional new revenue sources such as cross-selling or integrated service contracts.
Select the most appropriate option

Q28

We do not rely on the durability of our existing revenue sources.
Organizations need to reevaluate their revenue streams by asking the following questions. When is the revenue generated (i.e. purchasing, leasing)? For how long is the revenue generated (i.e. service contracts, subscription)? By whom is revenue generated (i.e. advertising, cross subvention)?
Select the most appropriate option

Q29

New Price and/or Cost Structures

We regularly reflect on our price-quantity strategy.
The price and cost structure needs to be aligned with the product-market strategy.
Select the most appropriate option

Q30

We actively seek opportunities to save production costs.
Cost structure allows an organization to subsume all direct and indirect costs associated with running the business. The ability to change the cost structure in a company indicates the high level of technology-aided flexibility in an organization.
Select the most appropriate option

Q31

Our production costs are constantly examined and if necessary amended according to market prices.
Organizations must change the cost structure throughout their business model if this is required by corporate/ market strategy
Select the most appropriate option

Q32

We regularly utilize opportunities that arise through price differentiation.
The established cost structure determines the strategic scope of an organization’s offerings. The cost structure needs to be aligned with the product-market strategy.
Select the most appropriate option

Q33

Value Creation

Value Creation examines how and by what means firms create value along the value chain using the resources and capabilities of intra and inter-organizational processes. The value creation dimension carries four (4) sub-constructs under which an organization can improve its innovation capability.​

  1. New capabilities

  2. New technologies/equipment

  3. New processes and structures

  4. New partnerships

Business Models are structural templates of how firms run and develop their business on holistic and system levels. A Business model describes an architecture for how a firm creates and delivers value to customers and the mechanisms employed to capture a share of that value.

Business Model Innovation considers the business model instead of products or processes as the subject of innovation. To capture business model innovation as a construct requires measuring changes in the three primary dimensions of the business model.

  1. Value Creation

  2. Value proposition

  3. Value capture

Although business model innovation requires systemic changes in the organizational structure, many business model innovations rely primarily on changes in one dimension and subsequent adaptations of other dimensions

DIGITIZED PRODUCT/SERVICE

BUSINESS MODEL INNOVATION

Thank you for submitting the details for this awards application.

Please note that this page can only be accessed via the entry submission wizard.
You haven't chosen this award category in your original submission. Please contact digital@fitis.lk for any clarifications or if you wish to submit an entry in this category.
bottom of page