In a disruptive age, established business models are under attack. Here’s how incumbent companies can reframe them.

Let’s face it: business models are less durable than they used to be. The basic rules of the game for creating and capturing economic value were once fixed in place for years, even decades, as companies tried to execute the same business models better than their com- petitors did. But now, business models are subject to rapid displace- ment, disruption, and, in extreme cases, outright destruction. Consider a few examples:

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