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This study explores the dynamics between the extremes of open innovation (OI)—from inclusive co-creation to exclusive vertical integration (VI). This analysis addresses the management issues of how Tesla and Porsche manage value capture and value distribution in the e-mobility industry through their contrasting approaches and strategic shifts between OI and VI. It develops a novel theoretical model juxtaposing the OI mode from open to closed with the value chain position from horizontal to vertical. Analyzing Tesla and Porsche's strategic moves offers a paradigm shift for OI practitioners. Our model can enable enhanced value capture through greater openness and more inclusive value distribution through proactive inside-out strategies in core technology areas. Instead of positioning VI and OI as static polar extremes, a novel combination of VI and OI can realize untapped potential. [ABSTRACT FROM AUTHOR]

Digital platforms are often characterized as enablers of new ecosystems. However, platforms are sometimes introduced into pre-existing ecosystems, where a platform’s ability to harmonize with the ecosystem is critical for its success. This article draws on the case of digital healthcare platforms and introduces the concept of platform grafting, which denotes the process of integrating a new platform into a pre-existing ecosystem, leading to a coevolutionary process of adapting both the platform and the surrounding ecosystem. Dynamic capabilities are critical for successfully integrating the platform into the ecosystem, and this article provides a capabilities framework for understanding platform grafting. [ABSTRACT FROM AUTHOR]

The current research aims to unveil the interconnection between effectiveness of digital accounting information system (EDAIS) and sustainable business model innovation (SBMI). In particular, the study investigates the mediating function of digital business ecosystem (DBE) between EDAIS and SBMI. In this regard, this study confirms and establishes the relationships between EDAIS, DBE, and SBMI by using a sequential exploratory strategy that combines literature review and qualitative interviews, together with a quantitative survey of 723 small and medium enterprises (SMEs). The results analysis indicated that EDAIS had a positive impact on SBMI. Furthermore, it was shown that DBE had a role in partially mediating the relationship between EDAIS and SBMI. Therefore, it is recommended that practitioners adopt digital transformation and harness national policies, in order to improve their company's use of digital technology in accounting. Additionally, policymakers and practitioners can use this investigation to enhance their comprehension of the governance of DBE and to elucidate strategies, procedures, and management for DBE in order to establish and attain SBMI in the digital environment. [ABSTRACT FROM AUTHOR]

While inter-organisational systems (IOS) can significantly impact firm performance within supply chains, the influence of IOS integration on business model innovation (BMI) remains unclear. This paper aims to investigate how industry/political environmental uncertainty (IEU/PEU) moderates the relationship between IOS integration and two types of BMI, namely, novelty-centred BMI (NBMI) and efficiency-centred BMI (EBMI) using an organisational information processing perspective. We collected 184 matched-pair questionnaires from operations and IT executives of Chinese firms located in the Yangtze River Delta region. The results confirm a positive effect of IOS integration on both NBMI and EBMI. Furthermore, IEU positively moderates the relationship between IOS integration and NBMI/EBMI. PEU negatively moderates the effect of IOS integration on EBMI but insignificantly moderates the relationship between IOS integration and NBMI. Finally, this study provides theoretical and practical implications. [ABSTRACT FROM AUTHOR]

Purpose: This research delves into the realm of Business Model Innovation (BMI), integrating it with the human-centric, sustainable, and resilient principles of Industry 5.0, proposing a new theoretical framework. Design/methodology/approach: An abductive approach has been chosen to expand existing knowledge developing new ideas based on emerging phenomena. Data were gathered via semi-structured interviews with directors, managers and curators of public institutions in Italy, Switzerland, Germany and Spain encompassing Galleries, Libraries, Archives, and Museums (GLAM). These data were subsequently subjected to thematic analysis. Findings: The findings indicate that the main enablers for Business Model Innovation (BMI) in combination with Industry 5.0 encompassed stakeholder, customer and organizational engagement, collaborative environment, knowledge and innovation management, and sustainability. These drivers were effectively leveraged through three pivotal facilitators-inhibitors: technology, resources, and leadership. Research limitations/implications: The principal constraints are rooted in the narrow contextual focus and the limited participants number. However, upcoming research efforts may broaden the horizons of this multifaceted and extensive investigation. Originality/value: This study is groundbreaking as it fills a significant gap in the existing literature by integrating Business Model Innovation (BMI) with the Industry 5.0 paradigm, a novel approach that has not been explored previously. Additionally, the inclusion of GLAM institutions in this research adds a unique dimension, as they have been largely overlooked in both research domains. [ABSTRACT FROM AUTHOR]

The primary objective of this study is to create a novel research model to enhance our comprehension of accounting data analytics (ADA) and its influence on the green innovation ecosystem (GIE). This is achieved by examining the mediating effects of digital circular business model innovation (DCBMI) and internal control system (ICS) on the aforementioned variables. The data acquired from a convenience and snowball sample of respondents working in public sector organizations (PSOs) in Vietnam was analyzed using Partial Least Squares-Structural Equation Modelling (PLS-SEM) with the support of SmartPLS 4.1.0.2. The results demonstrated the substantial and positive impact of ADA on GIE. Additionally, the results ultimately showed that the relationship between ADA and GIE was partially mediated by DCBMI and ICS. This paper presents compelling pieces of evidence on the comprehension of ADA and its influence on GIE in PSOs. To that end, PSOs can utilize the knowledge acquired from this investigation to establish themselves as leaders in the implementation of ADA. Moreover, the study's findings and discussion will assist the government in enhancing and systematically devising ways to promote the adoption of green innovation. [ABSTRACT FROM AUTHOR]

The business model innovation (BMI) concept has become a well‐established phenomenon of current academic research. While Foss and Saebi's (Journal of Management, 2017, 43, 200–227) seminal literature review on BMI revealed 349 articles on BMI published between 1972 and 2015, an additional number of 1727 articles on the topic have been published since 2016. In contrast to this overall interest in the BMI phenomenon, innovation‐focused journals include only a limited number of publications on BMI. Further, besides the valuable insights and fruitful research directions of extant literature reviews, they tend also to overlook the linkages between traditional innovation management and the majority of BMI research. Given this underrepresentation of BMI research in the innovation management literature, we conduct an integrative literature review to bring the disconnected literature closer together and offer directions for future research. Our literature review applies the review strategy of blending and merging the literature across domains. First, we blend the knowledge base of the BMI domain by applying the Product Development and Management Association (PDMA) Body of Knowledge categories. Second, we merge the literature across domains by developing an integrative framework. As recent BMI literature increasingly converged to two lines of research, our framework differentiates between the relatedness of the BMI and BMI openness. Thereby, we offer new avenues for future research that can enrich the dialogue on BMI research in the innovation management community. These results demonstrate how the BMI domain covers aspects that fit, contribute to, and extend classical innovation‐focused research, how both research domains can be merged to enrich each other, and how future research can foster the dialogue across disconnected domains. [ABSTRACT FROM AUTHOR]

Purpose: Business Model Innovation is increasingly created by an ecosystem of related companies. This paper aims to investigate the transition of a manufacturing ecosystem toward electric vehicles from a business model perspective. Design/methodology/approach: The authors investigate an automotive manufacturing ecosystem that is in transition toward electric and electrified vehicles, conducting semi-structured interviews with 46 informants from 27 ecosystem members. Findings: The results reveal that the actions of several ecosystem members are driven by regulations relating to emissions. Novel requirements regarding components and complementary offers necessitate the entry of actors from other industries and the formation of new ecosystem members. While the newly emerged ecosystem has roots in an established ecosystem, it relies on new value offers. Further, the findings highlight the importance of ecosystem governance, while the necessary degree of change in the members' business models depends on their roles and positions in the ecosystem. Therefore, upstream suppliers of components must perform business model adaptation, whereas downstream providers must perform more complex business model innovation. Originality/value: The paper is among the first to investigate an entire manufacturing ecosystem and analyze its transition toward electric vehicles and the implications for business model innovation. [ABSTRACT FROM AUTHOR]

The practical role of digital platforms in fostering a circular economy (CE) among businesses remains unresolved. Unlike previous research on digital platforms and firm performance, this study analyzes the bridging function of the value creation system from a value creation perspective. It identifies resources (business model innovation) and relationships with other value creators (closed-loop supply chains) as key elements for achieving CE. Using survey data from 243 firms, this study validates the significant roles of business model innovation and closed-loop supply chains in mediating the relationship of digital platforms to achieve CE. This narrows the theoretical gap and expands value creation-based CE research. [ABSTRACT FROM AUTHOR]

This study endeavors to examine the relationship between digital forensic accounting (DFAC) and accelerated internationalization capabilities (AIC). The study posits that the relationship between DFAC and AIC is mediated by metaverse circular business model innovation (MCBMI). The data was collected from employees in small and medium enterprises (SMEs) in Vietnam employing a combination of convenience and snowball sampling approaches, utilizing a quantitative research design and deductive approach. SmartPLS version 4 software was employed to analyze the data using partial least squares-structural equation modeling. This investigation determined that AIC is insubstantially influenced by DFAC. Nevertheless, the relationship between DFAC and AIC is positively mediated by MCBMI. The findings of this investigation would function as a reliable foundation for future research endeavors, as well as for the advancement of scientific comprehension by expanding the current scope of this research line. From a practical perspective, these critical insights could facilitate the development of strategies that are specifically tailored to the implementation of circular business models, as well as policies and regulations that are pertinent to the incorporation of Metaverse platforms to enhance SMEs' internationalization performance. [ABSTRACT FROM AUTHOR]

This research aims to analyze the impact of digital technology adoption on the business performance of startup companies in Indonesia. Using a random sampling method, five startups were selected as respondents, and data were collected through a questionnaire that has been tested for validity and reliability. The validity test results show that all questionnaire items are valid, with the calculated r value greater than the r table value. The reliability test using Cronbach’s Alpha coefficient produces a value of 0.78, indicating that the research instrument is consistent and can be reused. Descriptive analysis reveals that the majority of startups operate in the fintech, edutech, and healthcare sectors, with most having utilized technologies such as artificial intelligence (AI) and data analytics. The findings indicate that digital technology adoption positively impacts business performance, especially in enhancing operational efficiency and expanding market reach. Startups that maximize the integration of digital platforms experience significant growth in terms of user numbers and revenue. However, challenges such as cyber security, the digital divide, and marketing competition remain major obstacles. This research also emphasizes the importance of government policies in supporting a conducive digital ecosystem so that startups can overcome these hurdles and continue to innovate. With the right strategies and optimal utilization of technology, startups in Indonesia have great potential to grow and contribute significantly to the national digital economy. [ABSTRACT FROM AUTHOR]

Using multiple regression based on data from 322 new ventures from China, this study develops a multiple-mediator framework to explain how new ventures achieve business-model innovation (BMI) under the cognitive view. The study verifies the triggering effect of cognitive flexibility on BMI. Furthermore, it highlights the significance of active search and bricolage as two knowledge-based entrepreneurial learning actions that mediate the relationship between cognitive flexibility and BMI. The study highlights the role of entrepreneurial cognition in facilitating knowledge-management activities for developing BMI in new ventures. Additionally, the study represents a step in new ventures' BMI development and advances the understanding of entrepreneurial learning by shedding light on the effects of active search and bricolage in the entrepreneurial process. [ABSTRACT FROM AUTHOR]

Artificial Intelligence (AI) has revolutionized interactive marketing, creating dynamic and personalized customer experiences. To the best of our knowledge, no studies have ventured into how firms in the luxury sector can leverage AI marketing activities to innovate their business model and boost the development of future digital marketing to enhance the luxury shopping experience (LSE). Building on the existing LSE literature and adopting a business model innovation (BMI) lens, we conducted an experimental study to identify how AI-powered try-on technology (ATT) can contribute to LSEs and create customer value proxied by customer satisfaction. In addition, we determined the specific dimensions of the LSE that are most affected by AI marketing efforts. Furthermore, our findings explored the role of AI in driving BMI and the interrelationship between enhanced customer satisfaction and BMI. This research contributes to understanding the crucial role of AI in shaping the future of interactive marketing in the luxury context. [ABSTRACT FROM AUTHOR]

In the face of relentless global competition and regulatory pressures, the imperative for firms to digitally transform has become critical. This is particularly salient for Chinese manufacturing firms as they strive for sustainability, a multidimensional construct comprising both economic and environmental performance. Leveraging dynamic capabilities theory, this study aims to unravel the intricate interplay between digitalization, network capability, business model innovation (BMI), and environmental dynamism in shaping a firm's sustainability performance. Our research is driven by a compelling question: How do digitalization and network capabilities impact firms' sustainability performance, and what roles do BMI and environmental dynamism play in this relationship? To answer this question, we employed a robust survey-based methodology encompassing 1600 Chinese manufacturing firms, yielding 255 completed and validated responses. The findings reveal that network capability mediates the influence of digitalization on two types of BMI—novelty-centered and efficiency-centered. Further, these forms of BMI act as mediators between digitalization and network capability, and the two dimensions of sustainability: economic and environmental performance. Notably, environmental dynamism serves as a double-edged sword. It negatively moderates the impact of digitalization on efficiency-centered BMI, but positively moderates the influence of network capability on the same. Our study offers nuanced theoretical and practical implications. It extends dynamic capabilities theory by elucidating how digital and network capabilities can be leveraged for sustainable outcomes via business model innovation. Moreover, the research provides managerial insights, particularly for Chinese manufacturing firms, on navigating the complex landscape of digital transformation toward sustainability. Considering these insights, we recommend that firms prioritize network capabilities and strategically innovate their business models to harness the full potential of digital transformation. Simultaneously, organizations should be cognizant of the environmental dynamism within which they operate, as it can both hinder and enable their journey toward sustainability. [ABSTRACT FROM AUTHOR]

Effective rural solid waste management (RSWM) is crucial for sustainable rural development, particularly in developing countries, which face dual challenges from economic growth and environmental protection. To build a more sustainable business model for RSWM, this study employs a value proposition analysis approach to systematically analyze the multi-level requirements of various stakeholders involved in the current models of RSWM. It then proposes a novel optimizing approach for RSWM models from the perspective of business model innovation (BMI) by integrating the value proposition (VP) theory with the algorithm of the Analytic Hierarchy Process (AHP) to fill the research gap. In this study, an AHP-based evaluating algorithm is firstly proposed based on the viewpoints of multiple stakeholders' value propositions. Using this method, four typical pilot RSWM models across China are assessed and ranked, followed by a comprehensive analysis of the results and the incorporation of hierarchical criteria from multiple value dimensions. Building on the analysis of the results, optimization strategies for a novel RSWM model are proposed by constructing a conceptual framework of the business model. In addition, the analysis also indicates that both phases of sorting and collection and transportation are the main factors for fulfilling the overall satisfaction of the RSWM models. Lastly, this paper concludes by summarizing the relevant theoretical and managerial implementations of the proposed approach, providing a foundation for the scientific development of appropriate RSWM models by providing a new idea for BMI especially for environmental management projects that include multiple stakeholders. [ABSTRACT FROM AUTHOR]

Sustainability transitions are a significant challenge that requires established industries to adopt innovative ways of doing business. Research suggests that while this is possible through business model innovation (BMI), risk avoidance by regime actors and high levels of future uncertainty act as barriers to successful transitions. Specifically, we lack knowledge about how established companies innovate their business model (BM) to reduce uncertainty related to sustainability transitions. We explore the case of a large forest‐based manufacturing company in the construction industry, Stora Enso. We find that, by pursuing transformative BMI and combining multiple value creation logics, a company can reduce different types of uncertainty while shaping its business ecosystem towards more sustainable opportunities. We show that the BM can serve as an organizational tool for collectively exploring new knowledge, reducing uncertainty and driving change in a business ecosystem. [ABSTRACT FROM AUTHOR]

Purpose: The literature mainly concentrates on the relationships between externally oriented digital transformation (ExtDT), big data analytics capability (BDAC) and business model innovation (BMI) from an intra-organizational perspective. However, it is acknowledged that the external environment shapes the firm's strategy and affects innovation outcomes. Embracing an external environment perspective, the authors aim to fill this gap. The authors develop and test a moderated mediation model linking ExtDT to BMI. Drawing on the dynamic capabilities view, the authors' model posits that the effect of ExtDT on BMI is mediated by BDAC, while environmental hostility (EH) moderates these relationships. Design/methodology/approach: The authors adopt a quantitative approach based on bootstrapped partial least square-path modeling (PLS-PM) to analyze a sample of 200 Italian data-driven SMEs. Findings: The results highlight that ExtDT and BDAC positively affect BMI. The findings also indicate that ExtDT is an antecedent of BMI that is less disruptive than BDAC. The authors also obtain that ExtDT solely does not lead to BDAC. Interestingly, the effect of BDAC on BMI increases when EH moderates the relationship. Originality/value: Analyzing the relationships between ExtDT, BDAC and BMI from an external environment perspective is an underexplored area of research. The authors contribute to this topic by evaluating how EH interacts with ExtDT and BDAC toward BMI. [ABSTRACT FROM AUTHOR]

The performance gap, identified as a negative organisational challenge, has significantly attracted the attention of scholars in strategic management. The study examines the relationship mechanism between performance gap, network strategy, and business model innovation. The regression analysis reveals that performance gaps promote enterprises to engage in both network broadening and deepening, with a more pronounced preference for the latter. Moreover, network deepening’s positive impact on business model innovation is found to be greater than that of network broadening. Both network strategies serve as mediators in the relationship between performance gaps and business model innovation, albeit with network deepening playing a more substantial role. Additionally, fsQCA demonstrates that the interaction between performance gaps and network strategies can lead to four distinct configurations for enterprises to achieve high-level business model innovation. The study improves the problem-searching logic, and effectively expands on the scope of inquiry into organisational network governance and innovation strategies to address performance gaps. [ABSTRACT FROM AUTHOR]

Purpose: Building on recent developments in the Uppsala model, we first examine the role of business model innovation (BMI) in the internationalization process of firms and then determine to what extent international experience and psychic distance have a moderating effect between BMI and the success of a firm's international initiatives. Design/methodology/approach: We apply a multiple hierarchical regression model to a sample of 168 firms of two border regions in Italy (Friuli Venezia Giulia) and Austria (Carinthia). Findings: We find empirical support for the moderating role of both psychic distance and international experience in the relationship between business model innovation and the success of internationalization initiatives. Originality/value: The paper contributes to the evolutionary perspective of the internationalization process of firms by adding new aspects related to the role of business model innovation to the most re-cent developments of the Uppsala model. From an empirical point of view, the paper contributes to the literature by identifying and testing two boundary conditions that shape the relationship between BMI and international success. [ABSTRACT FROM AUTHOR]

Purpose: This research aims to investigate, in the context of a crisis, how adaptive marketing and open marketing capabilities directly contribute to enhance SMEs' business model innovation taking into consideration the mediating role of strategic flexibility. Design/methodology/approach: Based on a sample of 120 small firms, our theoretical model is tested through a cross-sectional study. PLS-SEM is applied as the analytical technique. Findings: The results show that open marketing capabilities are positively related to business model innovation and that this relationship is partially mediated by strategic flexibility. Furthermore, adaptive market experimentation capabilities enhance business model innovation only when fully mediated by strategic flexibility. Research limitations/implications: Extending existing explorative research, our research illuminates how adaptive market experimentation and open marketing capabilities, in conjunction with strategic flexibility, can help SMEs to better adapt existing business models during a time of crisis. Our findings underline the potential contribution of planned test-driven activities, trial-and-error processes, data-based decisional processes and benchmarking activities. We also document how stronger networking capabilities and organizational openness strengthen the firm's ability to access the required additional resources and insights they need. These contributions remain however conditioned by the use of a convenient sampling design as well as the cross-sectional nature of the data. Practical implications: Our findings underline the importance of empowering SMEs to nurture more effective experimental approaches in the long run, along with a more formalized open marketing posture. Our study also highlights the need for SMEs to improve their awareness of the risk of inertia and the benefits of nurturing their overall flexibility so they can adapt in an adequate and timely manner. Originality/value: The findings of this study build on the perspective of adaptive marketing capabilities and add to the business model innovation literature in two ways. First, our study provides new insights into the cumulative and concrete consequences of market experimentation and open marketing capabilities on small firms' business model dynamics in the context of a crisis. Second, our findings illuminate the crucial role of strategic flexibility which, partly or entirely, contributes to the full realization of the potential of the marketing capabilities at hand. [ABSTRACT FROM AUTHOR]

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Finding the Right Business Model for Durable Goods Technological advances enable new ways for customers to access durable goods such as heavy equipment without the need for ownership. In "Business Model Choice for Heavy Equipment Manufacturers," P. Blaettchen, N. Taneri, and S. Hasija analyze the resulting business models available to manufacturers, considering that manufacturers need to effectively coordinate their sales strategy with their highly profitable after-sales service activities and take into account secondary markets. Employing a game-theoretic framework, the authors show how different equipment characteristics lead to different optimal business model designs. They provide a comprehensive overview of when manufacturers should rely on emerging models based on servicization or peer-to-peer sharing and when it pays to retain a traditional model based on sales. Drawing on a novel framework for analyzing a business model's environmental impact, they further show that emerging models can create win-win situations for the manufacturer and the environment. Technological advances enable new business models for heavy equipment manufacturers wherein customers access equipment without ownership. We seek to understand the profitability and environmental performance of different emerging business models in light of salient economic and operational factors. We develop a game-theoretic model to identify the optimal choice between a traditional ownership-based business model and two access-based models: servicization and peer-to-peer sharing. After-sales services, equipment characteristics, usage environments, and fuel prices affect this choice. We also provide a novel framework to analyze business models' environmental impact, which incorporates trade-offs between economic value and environmental costs and shows that all models may create win-win situations for the manufacturer and the environment. Supplemental Material: The computer code and data that support the findings of this study and the online appendix are available within this article's supplemental material at https://doi.org/10.1287/opre.2023.0656. [ABSTRACT FROM AUTHOR]

Scholars and practitioners argue that smaller ventures can embark on new growth trajectories through business model innovation (BMI). There are, however, scarce insights into BMI and its driving forces among new and smaller ventures. This limits our insight into how BMI can help such ventures to grow beyond a small scale. This article uses resource-based theory to develop a conceptual model where managerial ties enable BMI through the sourcing of resources from ecosystems and incubator communities embedding the focal venture. Analysis of survey data provides considerable empirical support for this model. Overall, the article clarifies the theoretical relationship between managerial ties and BMI, and the role of the external environment within the context of resource-based theory. [ABSTRACT FROM AUTHOR]

Purpose: Subscription offerings are being hailed as the next service growth engine for companies in both business-to-consumer (B2C) and business-to-business (B2B) markets. The study analyzes how a manufacturing firm can develop and implement a scalable service-based subscription business model for B2C and B2B customers alongside its existing product-centric model. Design/methodology/approach: A longitudinal case study is conducted, drawing on 25 in-depth interviews with company executives and dealers in key European markets. Findings: The study outlines an iterative process model for subscription business model innovation. It reveals key events and decisions taken in developing, implementing, and scaling the new business model and how internal and external tensions involving intermediaries arose and were mitigated during the four stages of the process. Research limitations/implications: The findings highlight the dynamics of business model innovation processes and underscore the importance of organizational learning, collaborative relationships with channel partners, and strategic talent acquisition during business model innovation. Practical implications: The findings suggest how product-centric firms can implement new service business models alongside existing product models and what this means for partner and customer journey management. Originality/value: While servitization research predominantly concerns B2B manufacturers, B2C research focuses on digital subscription contexts. The study bridges this divide by investigating the move to subscriptions in both markets. [ABSTRACT FROM AUTHOR]

The article "Transforming Products into Platforms: Unearthing New Avenues for Business Innovation" discusses the power and challenges of platform businesses, emphasizing the benefits of network effects and scalability. It explores methods for brands to add platform elements to their products, such as inviting third-party sellers or connecting customers. The article also highlights the importance of careful governance and clear rules when implementing platform strategies to ensure a positive customer experience. Additionally, it emphasizes the significance of leveraging platform opportunities in today's digital economy and offers insights on building and utilizing platforms effectively. [Extracted from the article]

Purpose: This empirical paper investigates how entrepreneurial firms change their business models in the context of internationalization by identifying different forms of business model innovation (BMI) and exploring the interrelationship between BMI and internationalization. Design/methodology/approach: Based on the dynamic states approach of entrepreneurship (Levie and Lichtenstein, 2010), this paper analyses primary and secondary data from nine European firms following a multiple case study approach. Findings: This paper presents four patterns of radical change and eight types of incremental adaption with-in business models in the context of internationalization. We describe these BMI patterns and types, and we also show how they contribute to increasing involvement in international business activities and the internationalization-related triggers that might cause them. Originality/value: This paper contributes to a better understanding of the BMI process in the course of internationalization. It also highlights the complex interrelationship between BMI and internationalization by building on a progressive theoretical approach. [ABSTRACT FROM AUTHOR]