Business Model Innovation: Toward a Process Perspective
Penn collection
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business model
business model innovation
innovation process
design
design process
creativity
activity system
firm boundaries
process model
Business Administration, Management, and Operations
Business and Corporate Communications
Business Intelligence
Management Sciences and Quantitative Methods
Organizational Behavior and Theory
Technology and Innovation
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Abstract
Business model innovation matters to managers, entrepreneurs, and academic researchers because it represents an often underutilized source of value and, as such, could translate into sustainable performance advantage. Yet, despite the importance of the topic and the increasing attention it has received from researchers, relatively little is known about the process of business model innovation. To address this gap, this chapter draws on the design literature to derive a generalizable and normative model of the business model innovation process. This contribution links creativity at the individual and firm levels with innovation at the business model level of analysis and thus acknowledges explicitlt the multilevel nature of innovation.