Business model innovation; framework; elements; factors; conceptual study
Purpose: The point of departure of this exploratory study is the gap between the increasing importance of business model innovation (BMI) in science and management and the limited conceptual assistance avail- able. Therefore,the study identifies and explores scattered BMI insights and deduces them into an integrative framework to enhance our understanding about this phenomenon and to present a helpful guidance for researchers and practitioners.
Design/Methodology/Approach: The study identifies BMI insights through a literature-based investigation and consolidates them into an integrative BMI framework that presents the key elements and dimensions of BMI as well as their presumed relationships.
Findings: The study enhances our understanding about the key elements and dimensions of BMI, presents further conceptual insights into the BMI phenomenon, supplies implications for science and management, and may serve as a helpful guidance for future research.
Practical Implications: The presented framework provides managers with a tool to identify critical BMI issues and can serve as a conceptual BMI guideline.
Research limitations: Given the vast amount of academic journals, it is unlikely that every applicable scientific publication is included in the analysis. The illustrative examples are descriptive in nature, and thus do not provide empirical validity. Several implications for future research are provided.
Originality/Value: The study’s main contribution lies in the unifying approach of the dispersedBMI knowledge. Since our understanding of BMI is still limited, this study should provide the necessary insights and conceptual assistance to further develop the concept and guide its practical application.