Meaning ● Cross-Industry Business Models refer to the strategic adoption and adaptation of business models proven successful in one industry by small and medium-sized businesses (SMBs) in a different sector, with the aim of driving growth, automation, and more effective implementation. Essentially, an SMB examines how a company in an unrelated field generates revenue, engages customers, or optimizes operations, and then replicates or modifies those strategies to suit their unique business context. Thinking laterally, successful automation tactics developed in manufacturing, for example, might influence service-oriented businesses to streamline their operations and optimize internal processes. A key aim is unlocking new opportunities to increase revenue or reduce costs.
