The impact of entrepreneurial passion on business model innovation on Turkish SMEs

Sait Revda Dinibutun

Cogent Business & Management, 2024, vol. 11, issue 1, 2291864

Abstract: Despite the increased focus on business model innovation in recent years, there are still major gaps in existing literature about the causes of innovation. Therefore, this study examines various factors impacting business model innovation. Researchers have highlighted that entrepreneurial passion and business model innovation are key entrepreneurship areas. This study investigates the impact of entrepreneurial passion on business model innovation through the moderating effects of curiosity and the mediating effects of entrepreneurial learning. The current study employed PLS-SEM analysis using SmartPLS 4 (SmartPLS GmbH, Germany) under a valid academic license to test the study hypotheses from 400 business owners of manufacturing small and medium enterprises (SMEs) in Istanbul, Turkey. This study revealed that entrepreneurial passion and business model innovation are significantly associated. Besides, the moderating role of curiosity and the mediating role of entrepreneurial learning were significant. This study has significant practical implications for entrepreneurs and business managers to develop business model innovation with essential management consequences. Since curiosity boosts an entrepreneur’s passion to learn and hone their entrepreneurial skills, entrepreneurs should be interested in learning new knowledge. According to this study, fostering an entrepreneurial passion is crucial to the growth of new SMEs. Therefore, entrepreneurship education should inspire entrepreneurs to be innovative and energetic. Workshops and seminars are great opportunities for business owners to gain knowledge and quickly generate new ideas. Finally, this study opens new areas of research for future researchers.Entrepreneurship has emerged as a crucial business element, and entrepreneurs significantly contribute to establishing new businesses during the growth phase. Technology-related startups demand novelty for expanding in the market. So, if entrepreneurs want such startups to grow and compete in the cutthroat market, they should focus on business model innovation as a critical strategy. Entrepreneurs can efficiently make business model innovation seamless if they have enough entrepreneurial passion and learning. If entrepreneurs have curiosity, they can find novel opportunities in the market. If business owners want to turn their original concepts into reality, they must prioritise different factors to implement business model innovation in their organisations. Considering this, the present study emphasises the impact of all these factors on business model innovation.

Date: 2024
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DOI: 10.1080/23311975.2023.2291864

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