“…Belussi, Orsi, and Savarese (2019) even highlighted that business model innovation (BMI) is a growing field of discussion in BM research, and BMI is an important issue in innovation research. In recent years, researchers have largely agreed that BMs consist of three main elements: value proposition, value creation, and value capture (Hock‐Doepgen, Clauss, Kraus, & Cheng, 2020). In the course of a BMI, these three elements or their relationship to each other are innovated (Foss & Saebi, 2017).…”