STRATEGIC APPROACH TO THE BUSINESS MODEL INNOVATION

Bojan Moric Milovanovic (), Stjepan Srhoj () and Tomislav Kristo ()
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Bojan Moric Milovanovic: Libertas International University
Stjepan Srhoj: University of Dubrovnik
Tomislav Kristo: Streberaj poduke, Zagreb

Economic Thought and Practice, 2017, vol. 26, issue 2, 847-881

Abstract: Business model is a frequently used concept in business practice, where it is commonly used to communicate firm’s business logic to the stakeholders. Business model innovation is considered an important source of competitive advantage; however it is not sufficiently explained in the academia and among business professionals. The main goal of this paper is to identify the key aspects of the business model innovation and to elaborate business model innovation concept through the static and dynamic perspectives. The static dimension provided an overview of various business model types which represent opportunities for business model innovation, as well as the overview of the main sources for business model innovation. The dynamic dimension elaborates on the process and the development phases of the business model inovation. Contribution of this paper can be seen in the structured literature review aimed at managers and scholars interested in business model innovation.

Keywords: business model; types of business models; business model innovation (search for similar items in EconPapers)
JEL-codes: L20 M10 O31 (search for similar items in EconPapers)
Date: 2017
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