Managing the convergence of industries: Archetypes for successful business models
Publication typeBook Chapter
BookMedia and convergence management
Publication Begin page25
Publication End page36
Publication Number of pages376
MetadataShow full item record
AbstractWhen technologies converge, entire industry sectors are likely to do the same. In order for such transitions to succeed, not only are novel products and services needed, so too is the design of appropriate business models. In this context, it is particularly important from a firm’s perspective to critically question any affiliation to a particular industry. Instead, the business model should become the focus of innovation activities. Using a structured approach, managers can analyze their existing business model with respect to a converging industry sector early on, in order to be able to adapt it well in time to newly emerging market conditions.