Blockchain and Organizational Characteristics: Towards Business Model Innovation

Abstract

Blockchain seems to challenge the current business models by providing opportunities for new value creation. However, several research gaps remain in literature in evaluating how firms can leverage new approaches to innovation management and opportunities created by blockchain. Supporting organizational characteristics affecting digital innovation management process also need attention in order to challenge the traditional theories while developing unique fundamental assumptions between innovation processes and outcomes. Thus, blockchain and organizational characteristics need to be understood as an encompassing, over-arching and interrelated ecosystem in digital innovation management. Grounding on digitalization and innovation management, this research conceptualizes how blockchain technology and supporting organizational characteristics (i.e., R&D investment, strategic alignment, cultural support, top management knowledge and involvement, insights from customers and end-users) can be integrated for business model innovation. This research develops a conceptual framework involving multi-disciplinary collaborative actions that strengthen and empower business model innovation.

Digital Transformation of Industrial Organizations: Toward an Integrated Framework

“…Last, our results identified organizational culture as an enabler that incumbent organizations focus on the most for digital transformation. In the literature, culture is discussed as an enabler of transformation (Scheibe & Gupta, 2017) and an obstacle regarding the adoption of new digital technologies (Duerr et al, 2018;Hallikainen et al, 2017;Shahzad, 2020). Impactful digital transformation is not possible without changing the basis of the organization, which lies in its culture (Armenakis et al, 2011;Nambisan et al, 2017;Westerman et al, 2014).…”

Surviving the Covid-19 Pandemic: The Role of Digital Innovation and Transformation

“…When organizations seek and involve in external collaboration, inter-organizational trust, as a company's perceptions of reliability and integrity of relationship partners, plays a critical role not only in minimizing transaction cost and inter-firm conflicts but also maximizes the relationship commitment and overall performance [3], [4], [28]. Interorganizational trust implies that relationship partners do not act as opportunistically even when there are short-term goals and objectives.…”

“…This exceptional crises has not just impacted the global reach, but also disrupted the economic impact, political influence and organizational routines and networks [1]. Industrial organizations are profoundly networked provide opportunities for firms emerge within and outside of the organizational boundaries, thus usually rely on smooth operations and supply chain for their operational excellence by avoiding any potential conflicts [3], [4]. However, Covid-19 pandemic reveals the vulnerability and lack of resilience in supply chains globally that is ultimately effecting the inter-organizational interactions.…”

“…However, it will still be interested to observe how organizations, while taking alternative strategic paths, have been using their existing digitalization-based capabilities internally and externally in order to seize the opportunity to emerge with more innovative routines and new business models encompassing value propositions [1], [5]. Several scholars have emphasized the facilitating and enabling roles of recent disruptive digital technologies and digital transformation of organizations in business model innovation to enhance their competitiveness, productivity and operational performance [4], [14], [15]. However, the current literature provides very little or almost no evidence on how digital transformation, as a source of agility and dynamic capability, has been enabling organizations to capitalize the potential for change and keep-up with their internal and external operations since Covid-19 effected [16].…”

The Impact of Blockchain on Future Business Models within the Renewable Energy Sector

“…This article aims to bridge this gap by unveiling major opportunities coming from blockchain adoption within the renewable energy technologies (RETs) industry with a particular emphasis on its impact on current business models. As blockchain is a highly disruptive technology, it is firmly claimed in the literature that its implementation would require business model innovation (BMI) (Nowi ński & Kozma, 2017;Morkunas, Paschen & Boon, 2019;Shahzad, 2020;Tiscini et al, 2020;Taherdoost & Madanchian, 2023). To thoroughly examine this phenomenon, the following sections of this article will discuss the concepts of business models, and business model innovation, including sustainable business model innovation, to examine the possible impact of blockchain utilization on different components of business models within the RETs industry.…”