In a stable business environment with low turbulence classic business development focusing on incremental business changes has been a proper practice. In a volatile world demand for business changes is much higher and the need for business reinvention is more pressing.
The more volatile and complex the changing business environment the more important it is to take a holistic business perspective. It is easier to go from a holistic perspective to a focused one rather than vice versa. In modern context it also means use of business models tools.
A business model describes all the key elements of a business. Hardly ever are they produced by a single company or organization but there are several parties involved. From a business change perspective there is need for Co-Reinvention in the same way as in any Reinvention taking place inside an organization needs to include all those that are influenced by the Reinvention.
LinkedIn article: Small and Mid-Sized Corporations and Reinvention
Please, contact me if you want to hear more about Business Reinvention.