A review and analysis of the business model innovation literature

Huang, WenJun; Ichikohji, Takeyasu

doi:10.1016/j.heliyon.2023.e17895

Cited by 7 publications

(8 citation statements)

References 157 publications

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“…2.2.1 BMI antecedents. Huang and Ichikohji (2023) have categorized the antecedents of Business Model Innovation (BMI) into five distinct perspectives: technology-driven, strategicdriven, demand-driven, system-driven, and top-management-driven. It is widely known in the literature that changes in business models are a byproduct of the rapid evolution of information technology (Pateli and Giaglis, 2005).…”

Section: Business Model Innovationmentioning

confidence: 99%

“…BMI necessitates adaptation to the specific operational environment of the company. Furthermore, a company's operations are inevitably shaped by political and governmental influences to varying degrees (Huang and Ichikohji, 2023). Research has revealed that variables such as regulatory frameworks and policy combinations can either foster or hinder a company's capacity for innovation, as demonstrated by Huijben et al (2016).…”

Section: Business Model Innovationmentioning

confidence: 99%

“…Additionally, developing a new business model involves considerable uncertainties and risks, which often make firms hesitant to invest their existing resources and capabilities in a new BMI in order to maximize profits and it all depends on the culture of innovation management (Hock-Doepgen et al, 2021;Sund et al, 2021). Although researchers have extensively explored potential barriers to BMI implementation, including factors related to perception, capabilities, and resources, they tend to overlook sociocultural factors such as customer awareness and behavior, as well as political, legislative, and economic challenges characterized by stability and ambiguity (Huang and Ichikohji, 2023).…”

Section: Business Model Innovationmentioning

confidence: 99%

“…This comprehensive exploration of BMI across diverse organizational forms and geographical settings has contributed to a richer understanding of how different factors and dynamics influence the process and outcomes of business model innovation. Huang and Ichikohji (2023) explicitly mentioned that scholars should analyze how the BMIs of different companies in different contexts have changed over time, including technology, customer needs, high-level capabilities and corporate resources in the BMI. In particular, no study has ever been conducted in the public context, and likewise in the public cultural sector, which is certainly undergoing change due to changes in the environment and, at the same time, can influence changes and benefits to the society in which the companies operate.…”

Section: Business Model Innovationmentioning

confidence: 99%

“…This holistic perspective highlights the intricate interplay between economic, social, and environmental dimensions in the pursuit of sustainable business practices and successful BMI. Facilitatorsinhibitors also emerged from the integration of the two frameworks and include: technology (Pateli and Giaglis, 2005;Coblence and Sabatier, 2014), organizational resources and capabilities (Sund et al, 2021;Bitetti and Gibbert, 2022), organizational design (Foss and Saebi, 2017;Coblence and Sabatier, 2014), and finally, government regulations and policies (Huang and Ichikohji, 2023).…”

Section: Integrating Bmi and Industry 50mentioning

confidence: 99%

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Business model innovation and Industry 5.0: a possible integration in GLAM institutions

Botti,

Baldi

2024

EJIM

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PurposeThis research delves into the realm of Business Model Innovation (BMI), integrating it with the human-centric, sustainable, and resilient principles of Industry 5.0, proposing a new theoretical framework.Design/methodology/approachAn abductive approach has been chosen to expand existing knowledge developing new ideas based on emerging phenomena. Data were gathered via semi-structured interviews with directors, managers and curators of public institutions in Italy, Switzerland, Germany and Spain encompassing Galleries, Libraries, Archives, and Museums (GLAM). These data were subsequently subjected to thematic analysis.FindingsThe findings indicate that the main enablers for Business Model Innovation (BMI) in combination with Industry 5.0 encompassed stakeholder, customer and organizational engagement, collaborative environment, knowledge and innovation management, and sustainability. These drivers were effectively leveraged through three pivotal facilitators-inhibitors: technology, resources, and leadership.Research limitations/implicationsThe principal constraints are rooted in the narrow contextual focus and the limited participants number. However, upcoming research efforts may broaden the horizons of this multifaceted and extensive investigation.Originality/valueThis study is groundbreaking as it fills a significant gap in the existing literature by integrating Business Model Innovation (BMI) with the Industry 5.0 paradigm, a novel approach that has not been explored previously. Additionally, the inclusion of GLAM institutions in this research adds a unique dimension, as they have been largely overlooked in both research domains.

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Section: Business Model Innovationmentioning

confidence: 99%

Section: Business Model Innovationmentioning

confidence: 99%