PurposeThe purpose of this research is to determine the firms, innovations in the cases that have successfully overcome a decline and also to assess whether these innovations can be considered as business model innovations.Design/methodology/approachIn this paper, the data was collected from analyzing four case studies in different businesses through semistructured interviews with relevant internal experts.FindingsThe findings revealed that the innovation that had been taken was related to the constructs of their existing business model. Therefore, the business model innovation functions as a critical practice of turnaround strategy in the decline period.Research limitations/implicationsThe article provides the most important business model constructs in each business through which the related firm could overcome a decline in their life cycle. Since this paper has been studied in different unrelated businesses and due to the qualitative research nature, generalization cannot be ensured.Practical implicationsFrom the practical and managerial point of view, this article is useful as it defines the most important business model components in each industry and based on it, the similar companies can do innovation in their business model. It also helps the related companies in the same industry to develop and design their specific turnaround strategies.Originality/valueSo far, rare research has seen business model innovation as a turnaround strategy, and it can be claimed that till now, no research has been conducted in Iran in this context. Therefore, the business practitioners can employ innovation on the components of their existing business model to overcome a decline.

Purpose Today social media capabilities have enabled businesses and enterprises to more collaboration, engagement and co-creation with their customers. So the current paper expands on this notion. The aim of this study is a bibliometric analysis to examine the trends of publications in the field of co-creation based on social media. Design/methodology/approach To data collection of quantitative analysis, Scopus database was selected and the collected data were analyzed using Bibliometrix-package. The Web of Science also was selected to retrieve highly cited and hot papers for qualitative part of analysis besides top 10 Scopus highest citation per year documents on June 6, 2020. Findings The results indicate insights into research trends pertaining to social media-based co-creation, as follows: starting jump to the publications occurred in this researches from the year 2008 and the growth trend is progressing in recent years; the stressful points are “co-design,” “co-creation” and “value co-creation” and concepts such as “open innovation,” “co-innovation” and “co-new product design” are new topics that guide future direction; the USA and UK are leaders in number of multiple and single publications; the most active and top journals that are better suited to achieving a high citation rate per year for a related paper were introduced. In addition, the top documents and highly cited papers were qualitatively analyzed on the basis of times cited per year. Research limitations/implications The current study is not free of limitations. The database was limited to only Scopus. So the patterns and trends generated in the study may not be generalized to all social media-based co-creation research. Of course, the authors did not intend to ignore other contributions. It is mainly because of the number of documents retrieved from Scopus database and the coverage, Scopus was selected. Moreover, other types of research techniques such as correspondence analysis can be incorporated to generate additional meaningful insight. Originality/value In this time of social media and user-generated content portals, co-creation through social media has become quite popular. So the main innovation of this study is providing a visual presentation of the trends and patterns in the evaluation of social media-based co-creation from the first document about the research area published till 2020. The results of this paper can shed light on the factors that strengthen the contribution of studies in a research area. Generally, the bibliometric items the authors analyzed essentially show the entire field picture and guide researchers toward understanding future trends to produce impactful studies.

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This chapter highlights the importance of how learning from competitors improves strategic decision making and also ameliorates the performance of entrepreneurial firms. Strategic learning is a process at the strategic level that refers to an organization's ability to process strategic knowledge so that it can recreate its strategies. Knowledge acquisition from competitors as a creative strategic knowledge plays a major role in strategic learning in entrepreneurial firms. Using a qualitative research approach and examining eight entrepreneurial firms as case studies, this chapter outlines learning from competitors' processes in these firms. The findings show that these firms learn from competitors in four matters: through competitive analysis, benchmarking, imitation, and social media.