Abstract
A research group has developed a new, innovation typology that accounts for the additional factors affecting business-model innovation of large firms. The model has two dimensions that includes technology and value network. A new business model often requires a new value network, which in turn may require a new relationship that has the potential to disrupt existing ones. The research identified several issues that need to be addressed by companies while pursuing business-model innovation such as innovation management, financial management, and organizational complexity. Paradoxical leadership is an important cause of failure in all of the unsuccessful cases and did not occur in the successful ones. A partnership with a company that has experience in the target value network can provide invaluable understanding of the network and easier access. Companies should understand customer needs by doing extensive ethnographic studies that is required for a successful business model.
Original language | English |
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Pages (from-to) | 48-51 |
Number of pages | 4 |
Journal | Research Technology Management |
Volume | 53 |
Issue number | 6 |
State | Published - Nov 2010 |