Business Model Innovation: Impact of Entrepreneurial Competencies to New Value Proposition

Turulja Lejla (), Smajlović Selma () and Šimičević Vanja ()
Additional contact information
Turulja Lejla: University of Sarajevo, School of Economics and Business, Bosnia and Herzegovina
Smajlović Selma: University of Tuzla, Faculty of Economics, Bosnia and Herzegovina
Šimičević Vanja: Libertas International University, Zagreb, Croatia

Business Systems Research, 2025, vol. 16, issue 1, 40-59

Abstract: Background Rapid changes and dynamic markets significantly impact the way businesses operate. Many companies fail to adapt and innovate their business models, which jeopardises their sustainability. Managers, as key decision-makers, play a pivotal role in the innovation process, whereby their entrepreneurial competencies directly influence various dimensions of business model innovation. Objectives The main aim of this study is to examine the impact of entrepreneurial competencies on the new value proposition dimension of business model innovation (BMI), exploring competencies such as opportunity recognition, analytical thinking, innovativeness, tenacity, and passion for work. It investigates how these competencies contribute to developing new offerings and new channels, attracting new customers and markets, and building new customer relations. Methods/Approach The study is conducted on a sample of 267 managers of medium and large companies across various industries in Bosnia and Herzegovina. The data were analysed using Structural Equation Modelling (SEM). Results The results show that different entrepreneurial competencies have a significant impact on various aspects of a new value proposition. Conclusions The study contributes to a deeper understanding of the influence of different entrepreneurial competencies on new value proposition dimensions within BMI. Managers who effectively utilise these competencies can enhance their companies’ value propositions, thereby increasing competitiveness and business success.

Keywords: entrepreneurial competencies; opportunity recognition; analytical thinking; innovativeness; passion for work; tenacity; business model innovation; new value proposition; SEM (search for similar items in EconPapers)
JEL-codes: M1 O32 (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.2478/bsrj-2025-0003 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bit:bsrysr:v:16:y:2025:i:1:p:40-59:n:1003

DOI: 10.2478/bsrj-2025-0003

Access Statistics for this article

Business Systems Research is currently edited by Mirjana Pejić Bach

More articles in Business Systems Research from Sciendo
Bibliographic data for series maintained by Peter Golla ().