“…Extant quantitative studies are within the strategic and innovation management domain. From these studies, conceptual papers on entrepreneurship (Doganova and Eyquem-Renault, 2009), strategic management (Zott et al, 2011) or IS literature (Schneider and Spieth, 2013), as well as empirical papers on BMI and performance (Aspara et al, 2010;Aziz and Mahmood, 2011;Clausen and Rasmussen, 2013;Huang et al, 2012) have often unclearly defined BMs and BMI (Foss and Saebi, 2017). Although we agree with Wirtz et al (2016) that BMI requires a crucial transformation of the existing value proposition and/or value constellation, the problem is that core characteristics, components or concepts of the value constellation are often ambiguously defined, depending on the specific ontology used (Hartmann et al, 2016;Souto, 2015).…”