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Monday, 21 September 2020 09:41

About Innovative Business Model Navigator (B.M. Navigator)

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Today, a "business incubator" operates in Kutaisi with the support of the APBC. The time has come not only for its development, but also for the creation of an innovative business model navigator, or in short, "B.M. Navigator". If the “Business Incubator” is focused on the internships of young specialists or supporting the interns, the main goal of the “business model navigator” will be quite different. Navigator is a higher level than the “Business Incubator” and will be focused on creating innovative competitive business models instead of outdated business models! How does a business model navigator, or "B. M. Navigator" work! As soon as profits in operating business
companies start to decline, they should immediately start working on updating the business model.

Implementation of this process is not an easy task. It needs qualified, properly trained human, technical and financial resources. Most Georgian companies that need to upgrade their business models will not be able to do so independently. They need timely theoretical and practical support.

This is where the innovative business model navigator should be created. The US and EU countries have rich experience in this field. So in brief, what is an innovative business model navigator? The 21st century is an era of business model innovation. "B.M. Navigator" – shows to
the current business the shortest path towards the innovation. It will help companies to rapidly update business models, increase their competitiveness and efficiency, and overcome barriers in the process. The main thing in "B.M. Navigator" is to study / combine well the samples of 55 world-famous business models and make creative changes. Managing this change, in the process of
creating innovative business models, is the most important and necessary factor for success.

Empirical studies show that updating / improving business models brings far more opportunities for success than just innovating a product or its manufacturing technology! See the so-called a "magic triangle" that simply and clearly shows the essence of a business model.

Here are just a few of the many positive comments that entrepreneurs and scholars write about: "We use the B.M. Navigator for new approaches to business models and find that it is an unusual and practical methodology." Dr. Ulrich Eisert, Research Manager at SAP, Switzerland.
Alu Gamakharia,
Director of the Association “Peaceful and Business Caucasus”
Initiator of the creation of "B.M. Navigator"

  • We invite partners to form a navigator of innovative business models in Kutaisi (!), where 4-5 navigable small and medium business companies created and operating in accordance with the innovative business model created together with the partners will be located on the production premises of BM Navigator;
  • BM Navigator will support the establishment of "companies of the future" in Kutaisi and with its support - in Abkhazia.
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