<ul><li>Business Model Innovation (BMI) represents a fundamental shift in creating, delivering, and capturing value, while Product Innovation (PI) focuses on developing new or improved offerings that better serve customer needs.</li><li>Both BMI and PI are complementary and crucial for competitive advantage, leading to higher revenue growth, better customer retention, and improved market adaptability.</li><li>Business Model Innovation involves transforming how value is delivered and captured, while Product Innovation focuses on improving the products being sold.</li><li>Integrating BMI and PI can lead to breakthrough growth and organizations like Tesla, Amazon, and Apple are successful examples of the benefits of combining both.</li></ul>

Business Model vs Product Innovation: Which Drives More Growth in 2024?

Discover more