Business model innovation: a review and research agenda

2018 ◽  
Vol 11 (4) ◽  
pp. 348-369
Author(s):  
Wahyono Wahyono
Keyword(s):  
Business Model ◽  
Design Methodology ◽  
Business Models ◽  
Evolutionary Process ◽  
Business Model Innovation ◽  
Fine Tuning ◽  
Single Element ◽  
Content Type ◽  
Factors Associated ◽  
Practical Implications

Purpose This paper aims to review and synthesise the recent advancements in the business model literature and explore how firms approach business model innovation. Design/methodology/approach A systematic review of business model innovation literature was carried out by analysing 219 papers published between 2010 and 2016. Findings Evidence reviewed suggests that rather than taking either an evolutionary process of continuous revision, adaptation and fine-tuning of the existing business model, or a revolutionary process of replacing the existing business model, firms can explore alternative business models through experimentation, open and disruptive innovations. It was also found that changing business models encompasses modifying a single element, altering multiple elements simultaneously, and/or changing the interactions between elements in four areas of innovation: value proposition, operational value, human capital and financial value. Research limitations/implications Although this review highlights the different avenues to business model innovation, the mechanisms by which firms can change their business models and the external factors associated with such change remain unexplored. Practical implications The business model innovation framework can be used by practitioners as a “navigation map” to determine where and how to change their business models. Originality/value Because conflicting approaches exist in the literature on how firms change their business models, this review synthesises these approaches and provide a clear guidance as to the ways through which business model innovation can be undertaken.

scholarly journals Business model innovation: a review and research agenda

2019 ◽  
Vol 22 (2) ◽  
pp. 89-108 ◽  
Author(s):  
Boumediene Ramdani ◽  
Ahmed Binsaif ◽  
Elias Boukrami
Keyword(s):  
Business Model ◽  
Design Methodology ◽  
Business Models ◽  
Evolutionary Process ◽  
Business Model Innovation ◽  
Fine Tuning ◽  
Single Element ◽  
Content Type ◽  
Factors Associated ◽  
Practical Implications

Purpose The aim of this paper is to review and synthesise the recent advancements in the business model literature and explore how firms approach business model innovation. Design/methodology/approach A systematic review of business model innovation literature was carried out by analysing 219 papers published between 2010 and 2016. Findings Evidence reviewed suggests that rather than taking either an evolutionary process of continuous revision, adaptation and fine-tuning of the existing business model or a revolutionary process of replacing the existing business model, firms can explore alternative business models through experimentation, open and disruptive innovations. It was also found that changing business models encompasses modifying a single element, altering multiple elements simultaneously and/or changing the interactions between elements in four areas of innovation: value proposition, operational value, human capital and financial value. Research limitations/implications Although this review highlights the different avenues to business model innovation, the mechanisms by which firms can change their business models and the external factors associated with such change remain unexplored. Practical implications The business model innovation framework can be used by practitioners as a “navigation map” to determine where and how to change their existing business models. Originality/value Because conflicting approaches exist in the literature on how firms change their business models, the review synthesises these approaches and provides a clear guidance as to the ways through which business model innovation can be undertaken.

A review and research agenda in business model innovation

2019 ◽  
Vol 13 (3) ◽  
pp. 264-287
Author(s):  
Benny Hutahayan ◽  
Wahyono
Keyword(s):  
Business Model ◽  
Research Agenda ◽  
Design Methodology ◽  
Business Models ◽  
Evolutionary Process ◽  
Business Model Innovation ◽  
Fine Tuning ◽  
Single Element ◽  
Value Proposition ◽  
Content Type

Purpose This paper aims to review and synthesise the recent advancements in the business model literature and explore how firms approach business model innovation. Design/methodology/approach A systematic review of business model innovation literature was carried out by analysing 219 papers published between 2010 and 2016. Findings Evidence reviewed suggests that rather than taking either an evolutionary process of continuous revision, adaptation and fine-tuning of the existing business model or a revolutionary process of replacing the existing business model, firms can explore alternative business models through experimentation, open and disruptive innovations. It was also found that changing business models encompasses modifying a single element, altering multiple elements simultaneously, and/or changing the interactions between elements in four areas of innovation: value proposition, operational value, human capital and financial value. Originality/value The conflicting approaches exist in the literature on how firms change their business models, this review synthesises these approaches and provide a clear guidance as to the ways through which business model innovation can be undertaken.

Your winning business model agenda: four questions to shape growth

2018 ◽  
Vol 46 (4) ◽  
pp. 21-27 ◽  
Author(s):  
Vladyslav Biloshapka ◽  
Oleksiy Osiyevskyy
Keyword(s):  
Business Model ◽  
High Performance ◽  
Design Methodology ◽  
Business Models ◽  
Scale Up ◽  
The Other ◽  
Content Type ◽  
Current State ◽  
Growth Planning ◽  
Practical Implications

Purpose Defines clear steps for growth planning that support answers to the crucial question: How and where are you planning to scale up the business and what talent do you need to implement this? Design/methodology/approach As the “Business model value matrix” shows, having ‘happy customers’ is only one determinant of a business model’s success. The other essential block of diagnostic questions deals with the current state and prospects of the firm’s growth. Findings We found that companies that have found ways to keep their business models in a winner’s state can provide clear, evidence-based answers to questions about growth opportunities and risks, while their less successful peers have difficulty addressing the issues. Continuous collecting and analyzing of this information allows successful companies to embrace the strategy-as-learning model of development, built around active learning and proactive adjustment to evolving environment. Practical implications To develop a strategy for moving to and sustaining the Winner state, managers must clearly articulate and test a set of hypotheses about the mechanisms of their company’s growth. The first step on this path is related to obtaining a clear view on the factors that underpin the current financial performance. Originality/value High-performance cultures make sure that each manager has the clear answers to the questions of value, growth and digitization in order to learn, experiment and implement the company business model agenda. The unproductive cultures, on the other hand, are sustained by managerial teams that usually do not have the answers to these crucial questions, but are very good at political games.

scholarly journals Driving internationalization through business model innovation

2019 ◽  
Vol 28 (2) ◽  
pp. 201-220 ◽  
Author(s):  
Angelo Cavallo ◽  
Antonio Ghezzi ◽  
Bertha Viviana Ruales Guzmán
Keyword(s):  
Business Model ◽  
Design Methodology ◽  
Business Models ◽  
International Entrepreneurship ◽  
Single Case ◽  
Business Model Innovation ◽  
Content Type ◽  
A Company ◽  
North Western

Purpose This paper aims to investigate how a firm may innovate its business model to internationalize. Design/methodology/approach Owing to its novelty and to the depth of the investigation required to grasp the mechanisms and logics of business model innovation aiming at internationalization, a single case study has been performed related to a company located in North-Western Colombia. Findings The study provides detailed empirical evidences over the mutual connection and complementarities among value mechanisms of business models. Moreover, this study suggests that BMI fosters internationalization to scale, which, in turn, will require additional changes to match new customer needs as they emerge. Also, the study shows an extension of the action–space of lean startup approaches, intended as scientific approaches to international entrepreneurship. Originality/value This study connects business model innovation and internationalization as few studies have done before.

Business models in the business-to-business and business-to-consumer worlds – what can each world learn from the other?

2016 ◽  
Vol 31 (8) ◽  
pp. 943-954 ◽  
Author(s):  
Ryan Neill Stott ◽  
Merlin Stone ◽  
Jane Fae
Keyword(s):  
Business Model ◽  
Design Methodology ◽  
Business Models ◽  
Academic Research ◽  
Content Type ◽  
Managerial Implications ◽  
Business To Consumer ◽  
Business To Business ◽  
Practical Implications ◽  
Proper Analysis

Purpose The purpose of this research is to identify how managers can apply the results of academic research into the concept of business models for creating and evaluating possible models for their businesses. Design/methodology/approach A review of the literature is followed by two case studies, from the airline and logistics industries, followed by recommendations based on both. Findings The findings are that there is relatively weak consensus among academics as to the definition and meaning of a business model and its components, and that the notion of generic business model applies better within rather than between industries, but that the discussion is a very fertile one for developing recommendations for managers. Practical implications The managerial implications of the study are that in their planning and strategizing, managers should factor in a proper analysis of the business model they currently use and one that they could use. Originality/value The study provides a useful addition to the literature on the practical implications of business models.

Bridging the gap between potential and innovation

2016 ◽  
Vol 32 (3) ◽  
pp. 4-6
Keyword(s):  
Business Model ◽  
Design Methodology ◽  
Reading Time ◽  
Business Model Innovation ◽  
Search System ◽  
Content Type ◽  
New Ideas ◽  
Pertinent Information ◽  
Practical Implications ◽  
Blind Spots

Purpose – This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – Solid business model innovation (BMI) is one of the ways through which – especially where new ideas and technologies are concerned – companies can find ways towards commercialization via capturing value. The main barriers would appear to be lack of awareness, search, system, logic and culture. There are blind spots in every organization, such as having too narrow a focus, and this article provides insights into the ways by which business model innovation can be made to work. Practical implications – The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Five strategies provide a model for innovation

2016 ◽  
Vol 32 (5) ◽  
pp. 19-21
Keyword(s):  
Business Model ◽  
Cross Section ◽  
Design Methodology ◽  
Business Models ◽  
Content Type ◽  
High Performing ◽  
Business Model Canvas ◽  
Starting Point ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Here, the Business Model Canvas devised by Alexander Osterwalder and Yves Pigneur is a starting point for categorization of the efforts of 40 companies to create their own appropriate model. From these, five archetypal business models were then derived. Those firms represent a cross section of popular and dominant industries and sectors, with a preference toward enterprises with non-traditional business models. Five high-performing companies have been chosen to illustrate the success of each business model. Practical implications The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Improving your business posture

2018 ◽  
Vol 34 (5) ◽  
pp. 31-33
Keyword(s):  
Competitive Advantage ◽  
Case Studies ◽  
Business Model ◽  
Design Methodology ◽  
Reading Time ◽  
Business Model Innovation ◽  
Cutting Edge ◽  
Content Type ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Business model innovation can be a key facet to gaining a competitive advantage and subsequent success of any organization. This is investigated in this paper through French manufacturing SMEs with a turnover of less than €50m. Originality/value The paper saves busy executives, strategists, and researchers hours of reading time by selecting only the very best, most pertinent, information and presenting it in a condensed and easy-to-digest format.

Circular economy business model for smart tourism: the case of Ecobnb

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Pasquale del Vecchio ◽  
Caterina Malandugno ◽  
Giuseppina Passiante ◽  
Georgia Sakka
Keyword(s):  
Business Model ◽  
Value Creation ◽  
Circular Economy ◽  
Business Models ◽  
Business Model Innovation ◽  
Social Implications ◽  
Content Type ◽  
Tourism Management ◽  
Practical Implications ◽  
Smart Tourism

PurposeThe paper aims to shed new light on the process of value creation and business model innovation resulting from circular economy in the context of smart tourism.Design/methodology/approachThe study embraces a qualitative and exploratory approach related to a single case study. Data have been collected through the integration of web-based desk analysis, interviews and social big data analytics.FindingsFindings are related to Ecobnb, a network-based tourism company, coherent with the principles of value creation and business model innovation in the context of circular economy and smart tourism.Research limitations/implicationsThe study allows understanding of how smart tourism and circular economy can represent two important lenses for managing complexity and driving tourism companies and destinations toward sustainable and smart value creation processes.Practical implicationsPractical implications arise for managers and destination makers in terms of innovation of the tourism management and transition of the business models toward a circular configuration.Social implicationsThe study offers social implications by contributing to the dissemination of a culture of sustainability in tourism management and active involvement of local stakeholders in the growth of a tourism destination.Originality/valueThe study provides an original contribution to the debate on tourism by highlighting the obsolescence of traditional models of management in tourism companies and destinations, seen during the recent pandemic emergence, could be solved through the virtuous integration of digital technologies and sustainable approaches.

Responding to open business models

2017 ◽  
Vol 38 (2) ◽  
pp. 33-40
Author(s):  
Louis-David Benyayer ◽  
Martin Kupp
Keyword(s):  
Business Model ◽  
Design Methodology ◽  
Business Models ◽  
Community Action ◽  
Content Type ◽  
Five Dimensions ◽  
The Right ◽  
Practical Implications ◽  
Selection Of ◽  
Open Business Models

Purpose The purpose of this paper is to provide guidelines for practitioners in choosing the right response to potential threats by open business models. Design/methodology/approach The study focuses on identifying the dimensions of open business models. It consisted of 32 interviews with experts on open business models complemented by panel discussions with a selection of experts to validate the findings. Findings Five dimensions of open business models are identified: motivation, object, community, action and governance. Based on those dimensions, three responding strategies are proposed. Practical implications This paper offers insights for strategists and entrepreneurs who consider developing open business models or are attacked by competitors or other market players with open business models. Originality/value Complementing previous research, this paper highlights how the five dimensions of open business model can serve as a tool to design appropriate strategies when confronted with new forms of competition.

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