Business model innovation: an integrated approach based on elements and functions

Business model innovation can be used to acquire competitive advantages. In this paper, we applied an integrative approach to study business model in terms of elements and functions. In the paper, three types of business model innovations were discussed: original innovation, induced innovation, and...

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Bibliographic Details
Published in:Information technology and management 2016-09, Vol.17 (3), p.303-310
Main Authors: Zhang, Yue, Zhao, Shukuan, Xu, Xiaobo
Format: Article
Language:English
Subjects:
Business
Business and Management
Business models
Competition
Competitive advantage
Competitive business
Computer Communication Networks
Data Structures and Information Theory
Information technology
Innovation
Innovations
Integrated approach
IT in Business
Management
Mathematical models
Operations Research/Decision Theory
Principles
Studies
Target markets
Technological change
Technology
Value chain
Value creation
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Summary:Business model innovation can be used to acquire competitive advantages. In this paper, we applied an integrative approach to study business model in terms of elements and functions. In the paper, three types of business model innovations were discussed: original innovation, induced innovation, and imitative innovation. The major contributions of this paper are: (1) improving the understanding of the business models; (2) providing a new perspective on business model innovation; and (3) proposing the paths for business model innovation. The paper also discussed how new information technology may promote business model innovation.
ISSN:1385-951X
1573-7667
DOI:10.1007/s10799-015-0225-5