 Five dimensions of business model innovation: A multi-case exploration of industrial incumbent firm’s business model transformationsDarek. M. Haftor and Ricardo Climent Costa Journal of Business Research, 2023, vol. 154, issue C Abstract: Studies focus on the process of business model innovation as performed by start-up firms, while incumbent industrial firms’ attempts to innovate their business models often fail, being hindered by path-dependency. There is a lack of understanding of what in a business model of such firms is modified to produce an innovation that gives rise to value creation. Based on explorations of twenty-two incumbent industrial firms, five dimensions of a business model are identified that, when modified, may result in business model innovation by incumbents. These dimensions are exchangeable, activity, actor, transaction mechanism, and governance setup. The results show how business model innovation can be systemically characterized in terms of several dimensions that must be modified in concert to produce an innovative business model. The results also show that such business model innovations require novel uses of digital technologies that enable new activities to be incorporated into existing business models. Keywords: Business model transformation; Transaction mechanism; Activity system; Actor network; Governance; Value architecture (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:154:y:2023:i:c:s0148296322008177 DOI: 10.1016/j.jbusres.2022.113352 Access Statistics for this article Journal of Business Research is currently edited by A. G. Woodside More articles in Journal of Business Research from Elsevier |
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