Business Model Innovation, Framework, Elements, Factors, Conceptual Study
Purpose: The starting point of this study is the heterogeneously dispersed knowledge on the business model innovation (BMI) process. To accelerate the development of this topic in research and practice, the study explores insights concerning the BMI process to enhance our understanding about this phenomenon and to present a helpful guidance for researchers and practitioners.
Design/Methodology/Approach: Given the study design (systematic review), we conducted a literature- based investigation to identify important insights on the BMI process in the literature and derive a generic BMI process from the findings.
Findings: Our findings underline the heterogeneous structure of BMI process knowledge in the literature. Furthermore, we could detect several content-related and scope-related differences between existing BMI processes and derive seven generic BMI process steps: Analysis, Ideation, Feasibility, Prototyping, Decision-making, Implementation, and Sustainability.
Practical Implications: The literature review provides researchers and practitioners with a clear guidance on the BMI process literature and the seven generic BMI process phases serve as a blueprint for BMI initiatives in research and management.
Research Limitations: Given the amount of academic journals, it is unlikely that every applicable scientific publication is included.
Originality/Value: The study’s main contribution lies in the unifying approach of the dispersed knowledge on the BMI process. Since our understanding of the BMI process is still limited, this study should provide further insights that support the development of the concept and guide its practical application.