Factors driving business model innovation in sample case studies in South Africa

Motjolopane, Ignitia; Ruhode, Ephias

doi:10.1080/20421338.2021.1977088

Cited by 2 publications

(2 citation statements)

References 65 publications

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“…Business model transformation is one of the main dimensions of big data analytics and artificial intelligence readiness and maturity. A business model is the underlying economic logic of how a business makes money and creates value in serving the target customer, considering key activities, resources, partnerships, and the value exchanges between the company and its partners (Motjolopane & Ruhode, 2021). Within big data analytics and artificial intelligence, SMEs will seek to answer how SMEs can use data to fundamentally reinvent the business with business model transformation permeating the whole organisation for both product and service organisations (El-Darwiche et al, 2014).…”

Section: Business Model Transformationmentioning

confidence: 99%

Digital transformation dimensions for evaluating SMEs' readiness for big data analytics and artificial intelligence: A review

Motjolopane,

Chanza

2023

IJRBS

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Assessing the readiness and maturity of small and medium enterprises (SMEs) is a foundation for implementing emerging technologies like big data analytics and artificial intelligence to drive their digital transformation endeavours. This study emphasises that readiness and maturity dimensions offer descriptive and prescriptive guidelines for gauging the current and desired levels of preparedness and maturity required to achieve desired digital transformation outcomes. However, prevailing readiness and maturity models overlook the diverse stages of advancement in big data analytics and artificial intelligence. This research explores the dimensions essential for assessing SMEs' readiness to adopt big data analytics and artificial intelligence. This paper identifies the key dimensions for evaluating SMEs' readiness and maturity across different categories of big data analytics and artificial intelligence by conducting a systematic literature review and employing cluster analysis. The study's principal findings underscore that SMEs' readiness for maturity is influenced prominently by strategic leadership and organisational culture, closely trailed by information technology, security, and business model transformation. Additionally, three pivotal dimensions encompass data analytics and governance, cost-benefit and risk management, and environmental factors. Consequently, proposing that evaluating digital readiness and maturity for SMEs should encompass these six dimensions, thoughtfully considering various prerequisites related to analytics and artificial intelligence.

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Section: Business Model Transformationmentioning

confidence: 99%

Digital transformation dimensions for evaluating SMEs' readiness for big data analytics and artificial intelligence: A review

Motjolopane,

Chanza

2023

IJRBS

Self Cite

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“…This model, to a large extent, is associated with an enterprise's revenue or production and is used to indicate how much potential a business idea has and how profitable it would be (Mahadevan, 2004). As a result, an business model innovation is one in which innovation occurs in one or more components of an already existing and adopted business model with the goal of creating new value, allowing the organization to compete successfully and effectively in a changing environment (Motjolopane & Ruhode, 2021).…”

Section: Table 1 Challenges In Starting and Developing Businessmentioning

confidence: 99%

Business Model Innovation as a path to overcoming entrepreneurial challenges

Kostov

2023

Management Strategies and Policies in the Contemporary Economy

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Business model innovation (BMI) refers to the process of developing and implementing new, unique, and creative ways of creating, delivering, and capturing value. It involves rethinking and re-engineering the underlying logic and structure of a business, with the aim of unlocking new sources of revenue, reducing costs, and improving customer experiences. With the rapidly changing business landscape and increased competition, business model innovation has become a critical component of corporate strategy, allowing companies to stay ahead of the curve and achieve sustainable growth. In this regard, the article aims to present business model innovation as a way to deal with the problems faced by entrepreneurs and their enterprises in the conditions of an increasingly dynamic and uncertain environment. Several challenges facing modern business are indicated. The framework of business model innovation is outlined and the logic of their creation is traced. Finally, various methods and tools for developing original business models are suggested. Whether it involves introducing new products or services, exploring new markets, or leveraging technology to transform existing business processes, the goal of business model innovation is to create value for customers and stakeholders, while differentiating the company from its competitors.

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Factors driving business model innovation in sample case studies in South Africa

Cited by 2 publications

References 65 publications

Digital transformation dimensions for evaluating SMEs' readiness for big data analytics and artificial intelligence: A review

Digital transformation dimensions for evaluating SMEs' readiness for big data analytics and artificial intelligence: A review

Business Model Innovation as a path to overcoming entrepreneurial challenges

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