Business Models in Times of Change - Exploring how Internal Factors Influence Business Model Innovation
(2021) BUSN09 20211Department of Business Administration
- Abstract (Swedish)
- The business model is a useful concept to understand how a firm operates. However, little is known about how business models can be managed in times of change. The concept of business model innovation, which is also referred to as business model change on a component-level in the literature, constitutes the adaptation to external factors challenging the sustainability of a company’s business model. One example of a sector undergoing change is the food industry, where incumbent players are being challenged by the changing industry dynamics of emerging protein alternatives and start-ups who are fuelling this disruption. To remain competitive, incumbent players need to be able to adjust their business models accordingly. However, little is... (More)
- The business model is a useful concept to understand how a firm operates. However, little is known about how business models can be managed in times of change. The concept of business model innovation, which is also referred to as business model change on a component-level in the literature, constitutes the adaptation to external factors challenging the sustainability of a company’s business model. One example of a sector undergoing change is the food industry, where incumbent players are being challenged by the changing industry dynamics of emerging protein alternatives and start-ups who are fuelling this disruption. To remain competitive, incumbent players need to be able to adjust their business models accordingly. However, little is known about how a company’s internal factors such as the organizational structure, corporate culture or leadership can act as either a hindering or enabling factor to business model innovation.
The purpose of this study was to increase the understanding of business models in times of change and the underlying internal factors affecting this change. We used a qualitative multiple case study approach and conducted 14 semi-structured interviews with representatives of incumbent companies in the food industry. We identified five groups of internal factors that influence business model innovation. These have been defined as Structure & Strategy, Building Capabilities, Corporate Culture, Cognition, and Business Model Experimentation & Origin. We stress that these are to some extent interrelated and require attention and strategic consideration throughout the innovation process. Furthermore, a corporate culture embracing innovation needs to be established and the right market assessment, strategic knowledge management and leadership initiatives are of importance. Moreover, the ability to experiment with the current business model can be limited for companies, which has consequences for business model innovation, while the segregation of the new business area can be a possible option to allow experimentation. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9056221
- author
- Möller, Allegra Alexandra LU and Kubis, Jessica LU
- supervisor
- organization
- course
- BUSN09 20211
- year
- 2021
- type
- H1 - Master's Degree (One Year)
- subject
- language
- English
- id
- 9056221
- date added to LUP
- 2021-06-29 10:29:07
- date last changed
- 2021-06-29 10:29:07
@misc{9056221,
abstract = {{The business model is a useful concept to understand how a firm operates. However, little is known about how business models can be managed in times of change. The concept of business model innovation, which is also referred to as business model change on a component-level in the literature, constitutes the adaptation to external factors challenging the sustainability of a company’s business model. One example of a sector undergoing change is the food industry, where incumbent players are being challenged by the changing industry dynamics of emerging protein alternatives and start-ups who are fuelling this disruption. To remain competitive, incumbent players need to be able to adjust their business models accordingly. However, little is known about how a company’s internal factors such as the organizational structure, corporate culture or leadership can act as either a hindering or enabling factor to business model innovation.
The purpose of this study was to increase the understanding of business models in times of change and the underlying internal factors affecting this change. We used a qualitative multiple case study approach and conducted 14 semi-structured interviews with representatives of incumbent companies in the food industry. We identified five groups of internal factors that influence business model innovation. These have been defined as Structure & Strategy, Building Capabilities, Corporate Culture, Cognition, and Business Model Experimentation & Origin. We stress that these are to some extent interrelated and require attention and strategic consideration throughout the innovation process. Furthermore, a corporate culture embracing innovation needs to be established and the right market assessment, strategic knowledge management and leadership initiatives are of importance. Moreover, the ability to experiment with the current business model can be limited for companies, which has consequences for business model innovation, while the segregation of the new business area can be a possible option to allow experimentation.}},
author = {{Möller, Allegra Alexandra and Kubis, Jessica}},
language = {{eng}},
note = {{Student Paper}},
title = {{Business Models in Times of Change - Exploring how Internal Factors Influence Business Model Innovation}},
year = {{2021}},
}