When leaders consider how technology has enabled the transformation of business models over the past several years, few would disagree that the world has changed dramatically. Retail, entertainment, music, and banking have largely moved online. It’s a familiar story: Netflix beat Blockbuster; Amazon beat Borders. More recently, Tesla has transformed the experience of buying, owning, and driving a car.
Tesla, Uber, and many other stories of business innovation have this in common: Their business models have technology at their cores. They’re in the software business, and they compete on user experience. They recognize that innovative use of technology is enabling new business models with competition-crushing advantages built right in.
