Innovating in a Service-Driven Economy: How Business Models are Evolving? ESSEC Business School

7 Jun 2018 – Facing the challenge to move up the value chain, manufacturing companies are rapidly adopting service-driven innovation mechanisms. The need to invest in sustainable development, the scarcity of raw materials and natural resources, and the rapid growth of the world population have led to a reinvention of value creation. The service age is taking over the 21st century and service innovation is emerging as the most powerful solution to corporate and societal challenges.

Services have become a key sector today precisely because the very notion of service has significantly evolved over the last 15 years, as well as its economic understanding as a business model.

To be more specific, what used to be considered “additional service” and thought of as something that was “added on to the product” has been re-invented and has become the very heart of the strategies of organisations.

At this meeting, our speaker Xavier Pavie, Professor at ESSEC Business School shared with us how business models are evolving in this service-driven economy.

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