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Drivers, like competitive pressure and technological change push organizations to innovate their business model (BM). However, this complex form of innovation not only offers many chances, but also involves some risks. Value creation in complex and dynamic value networks with a multitude of different actors leads to a higher level of uncertainty and risks. In order to build profitable and sustainable business models, risk factors need to be identified, analyzed and managed. By applying and adapting the value network analysis (VNA), this work creates a methodology for identifying BM risk factors within the value network of a BM and unveils a set of BM risk factors within the value network. Results are based on a detailed literature review and the use of the Action Design Research (ADR). [ABSTRACT FROM AUTHOR]

Large manufacturing companies will in future be continuously challenged to develop and implement new IoT-related business models. Existing research offers interesting insights on high-level stages of business model innovation (BMI) processes in general. However, only little is known about the presence of main gates in BMI processes and even less about the underlying decision criteria applied at these gates. To shed more light on this research field, 27 expert interviews with employees from eight companies across the IoT ecosystem were conducted. The expert interviews reveal that, despite the increasing popularity of (radically) new innovation approaches, two main decision points can be identified across BMI processes. These findings are a first explorative step towards a better understanding of IoT adoption and provide a starting point for interesting future research avenues. [ABSTRACT FROM AUTHOR]

Past research has often attributed the failure of corporate attempts at business model innovation (BMI) to structural barriers that impede the implementation of new business models in parallel to existing operations. This study investigates cognitive barriers between those in charge of driving the implementation of BMI projects (entrepreneurial agents) and decision-makers (corporate sponsors). We place our study in a multinational corporation that has established particularly favourable structures to support BMI and is thus an ideal setting to investigate how organizational members overcome remaining cognitive barriers. Based on the analysis of four new business models as embedded cases, we find that (a) despite both parties' intention to promote BMI, each of the four new business model faces several critical issues jeopardizing its survival, and that (b) implementing BMI at an ideal pace depends on the effectiveness of what we call 'cognitive alignment work' between corporate sponsors and entrepreneurial agents. We identify the nine constitutive elements of cognitive alignment work and discuss its potential to increase the likelihood of BMI in corporate settings. [ABSTRACT FROM AUTHOR]