From Technological Innovation to Innovative Business Model Design

K. V. Mukundhan ()
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K. V. Mukundhan: Indian Institute of Management Tiruchirappalli

Chapter Chapter 1 in Global Trends in Technology Startup Project Development and Management, 2023, pp 1-15 from Springer

Abstract: Abstract Technology has significantly driven value creation and has propelled several competent firms to the top of their respective industries. At the same time, the technological innovation graveyard is filled with novel ideas and promising initiatives that were once backed by superior technological breakthroughs. This chapter explains what technological innovations require to achieve commercial success. The chapter begins with describing the different types of technological innovations from popular academic literature. The next section discusses why technological breakthroughs (or “technical” solutions) need to be translated to “customer” solutions through an appropriate value proposition design. The third section emphasizes business model design as a necessary step to capture economic profits from technological innovations. The final section describes the types of business models in vogue today, the characteristics that make business models disruptive, the challenges incumbent firms face in responding to rivals backed by disruptive business models, and how practicing managers and entrepreneurs can leverage this knowledge to increase the odds of their idea's commercial success.

Keywords: Business models; Disruptive innovation; Technological innovation; Value proposition (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:innchp:978-3-031-40324-8_1

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DOI: 10.1007/978-3-031-40324-8_1

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