Book excerpt: Please note: This is a companion version & not the original book. Sample Book Insights: #1 The Business Model Navigator is a structured methodology that helps you innovate your business model. It consists of 55 patterns that help you change at least two of your business model’s dimensions. #2 A business’s long-term competitive success depends on its ability to create an innovative business model. There are very few European firms that have been able to do so successfully. #3 Business model innovation is the process of changing the way a business operates, and it is a major factor in driving growth and competitiveness. It is no longer sufficient to focus on product or process innovation, as increasing competitive pressure, globalisation, and competitors in the East all erode formerly prominent positions. #4 Empirical research has shown that business model innovation carries a greater potential for success than product or process innovation. A company’s fate increasingly depends on its ability to apply the appropriate innovative business model that differentiates it from its competitors.