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Opportunity identification in the digital age— What’s different?
Efficiently exploring markets & technologies and developing business ideas about serving a demand
Focus: access to diverse information, ability to probe customer needs and technological feasibility
Digital technologies facilitate …
Rapid prototyping, e.g., via 3DP (compression, conservation)
Access to diverse information (expansion)
Access to business ideas (combination)
Opportunity space is determined (at least for fully digital ventures) by…
Digital artifacts
Digital platforms
Digital infrastructure
Resource requirements relatively low
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Opportunity evaluation in the digital age— What’s different?
Exploring a narrower set of opportunities more in-depth
Increasingly committing to a particular business model, product, and target market
Focus:
Acquiring critical resources
Minimizing development costs and time to market
Similar mechanisms as for opportunity identification
Crowdfunding (expansion and substitution)
Identifying and accessing lead users and test markets (compression and conversation)
Opportunity exploitation in the digital age— What’s different?
Establishing efficient and scalable systems and routines to produce, market, and distribute the offering
Minimizing production and distribution costs
Maximizing value delivered to customer
Rapid scaling, e.g., via web service and platforms (generation)
Continuous business model development and innovation (combination, generation)
Last changed8 months ago
