Configurations of Business Model Innovation: Unpacking the Practice Adopted by Firms in an Emerging Market Context

Chamindika Weerakoon and Sarath S. Kodithuwakku

Journal of Entrepreneurship and Innovation in Emerging Economies, 2023, vol. 32, issue 1, 218-259

Abstract: Building on the strategy-as-practice perspective, this exploratory study addresses an overlooked line of inquiry into the forms, differentiators, and performance differences of micro-activities underpinning business model innovation (BMI) in an emerging market in the backdrop of dominating studies on conceptualisations, descriptions, antecedents, and preconditions to BMI. Cluster analysis of 127 managerial-level employees’ responses gathered through a survey uncovered three forms of micro-activities underpinning BMI unique to the firms’ economic activity: finance-driven, offer and customer-driven, and multiple-epicentre-driven. The common focus on customer relationships element across the clusters confirmed the uniqueness of the BMI approach in an emerging market. One-way Analysis of Variance (ANOVA) confirmed the performance differences among the clusters. The interdependency of BMI dimensions and the approaches to aligning BMI dimensions are proposed for future research.

Keywords: Business model; innovation; Sri Lanka; cluster analysis; strategy- as-practice (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:sae:jouent:v:32:y:2023:i:1:p:218-259

DOI: 10.1177/09713557231159478

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