Business Model Innovation

In many cases, the strategy mandate in the business has shifted to encompass building new businesses and setting up new revenue streams that will ultimately supplant today’s core business. McKinsey & Co. cite that in 5 years, companies indicate that they expect 50% of revenues to come from new business models, products and services.  Some will make big, disruptive bets; others will spread their bets out among different options to see what sticks. How are CSOs and their companies focusing on business model innovation and starting new businesses (organic/inorganic?; in new/existing industries? or forming entirely new companies)?