An exploration of business model development in the commercialization of technology innovations

Dmitriev, Viatcheslav; Simmons, Geoff; Truong, Yann; Palmer, Mark; Schneckenberg, Dirk

doi:10.1111/radm.12066

Cited by 83 publications

(80 citation statements)

References 48 publications

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“…Sinfield et al, 2012;Taran et al, 2015), two elements (e.g. Mason and Spring, 2011; Dmitriev et al, 2014). However, very few included three or more elements (e.g.…”

Section: Operational Valuementioning

confidence: 99%

Business model innovation: a review and research agenda

Ramdani

Binsaif

Boukrami

2019

NEJE

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Purpose -The aim of this paper is to review and synthesise the recent advancements in the business model literature and explore how firms approach business model innovation. Design/methodology/approach -A systematic review of business model innovation literature was carried out by analysing 219 papers published between 2010 and 2016. Findings -Evidence reviewed suggests that rather than taking either an evolutionary process of continuous revision, adaptation and fine-tuning of the existing business model or a revolutionary process of replacing the existing business model, firms can explore alternative business models through experimentation, open and disruptive innovations. It was also found that changing business models encompasses modifying a single element, altering multiple elements simultaneously and/or changing the interactions between elements in four areas of innovation: value proposition, operational value, human capital and financial value. Research limitations/implications -Although this review highlights the different avenues to business model innovation, the mechanisms by which firms can change their business models and the external factors associated with such change remain unexplored. Practical implications -The business model innovation framework can be used by practitioners as a "navigation map" to determine where and how to change their existing business models. Originality/value -Because conflicting approaches exist in the literature on how firms change their business models, the review synthesises these approaches and provides a clear guidance as to the ways through which business model innovation can be undertaken.

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“…Sinfield et al, 2012;Taran et al, 2015), two elements (e.g. Mason and Spring, 2011; Dmitriev et al, 2014). However, very few included three or more elements (e.g.…”

Section: Operational Valuementioning

confidence: 99%

Business model innovation: a review and research agenda

Ramdani

Binsaif

Boukrami

2019

NEJE

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“…Consequently, the development of a business model is described in terms of experimentation (Andries et al, 2013), trial-and-error learning (Chesbrough, 2010;Sosna et al, 2010) and the need for flexibility (Bock et al, 2012). Dmitriev et al (2014) found that each business model component may furthermore receive attention at different moments during the development process. Moreover, alternative business models are often created in parallel (Casadesus-Masanell and Tarzijan, 2012).…”

Section: Business Model Development Process Of New Technology-based Vmentioning

confidence: 99%

Decision making for business model development: a process study of effectuation and causation in new technology‐based ventures

Reymen

Berends

Oudehand³

et al. 2016

R & D Management

104

100

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This study investigates the decision‐making logics used by new ventures to develop their business models. In particular, they focussed on the logics of effectuation and causation and how their dynamics shape the development of business models over time. They found that the effectual decision‐making logic was used dominantly to generate a viable value proposition for a specific customer segment. Causal logic is then used dominantly to define the other business model components in relation to the value proposition and customer segment. When a shortage of resources emerges, causal logic is replaced by an increase in effectual decision‐making again. They concluded that before investing significant resources in a business model it was crucial for firms to reduce, as far as possible, technological and market uncertainty through effectual strategies to avoid high re‐configuration costs later.

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“…Business model innovation has recently become an important topic for firms as it provides an opportunity to benefit from new technological developments (Chesbrough and Rosenbloom, ; Dmitriev et al, ) and to reshape business activities (Teece, ; Amit and Zott, ; Casadesus‐Masanell and Zhu, ; Demil et al, ). Especially in mature industries where options to innovate products and processes are limited (Oliva and Kallenberg, ), business model innovation is said to provide a – compared to product and process innovation – cost‐ and time‐efficient opportunity to improve a firm's competitive position (Amit and Zott, ).…”

Section: Introductionmentioning

confidence: 99%

Business model innovation processes of average market players: a qualitative‐empirical analysis

Laudien

Daxböck

2016

R & D Management

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Business model innovation is by now mainly understood as a strategic option for firms to enhance competitiveness. As a result, business model innovation research usually focuses on outperforming firms that deliberately innovate their business models. We enhance this rather narrow perspective by analysing business model innovation processes of average market players against the background of a multiple‐case study. Our findings show that average market players do at least initially not deliberately pursue business model innovation. Instead, they experience business model innovation as a highly emergent and very often unintended process. We identify four phases of this process and describe them in detail. Furthermore, we highlight factors that determine whether a firm is able to complete the process step or not. The results of our study are reflected in a newly developed process model that considerably enhances the understanding of business model innovation processes with regard to average market players and may serve as framework for future research.

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An exploration of business model development in the commercialization of technology innovations

Cited by 83 publications

References 48 publications

Business model innovation: a review and research agenda

Business model innovation: a review and research agenda

Decision making for business model development: a process study of effectuation and causation in new technology‐based ventures

Business model innovation processes of average market players: a qualitative‐empirical analysis

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