Because of hyper-competition, the landscape of competition will be entity versus entity, not product versus product, so this is the time for business concept innovation. Business concept innovation, or business model innovation, is a greater source of competitive advantage than new product innovation. This type of innovation addresses fundamental changes by building core competencies in the value chain, cost models, and organization; moreover, it enhances the customer value model. Our strategic insight research aims to present an in-depth strategic understanding and perception of business model elements and trends that enable business organizations to re-conceive their business in different ways to maximize value creation for their customers and all stakeholders.