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Strategies for business model innovation: How firms reel in migrating value
Hacklin, Fredrik Björkdahl, Joakim Wallin, Martin
Hacklin, Fredrik
Björkdahl, Joakim
Wallin, Martin
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Publication Type
Journal article with impact factor
Editor
Supervisor
Publication Year
2018
Journal
Long Range Planning
Book
Publication Volume
51
Publication Issue
1
Publication Begin page
82
Publication End page
110
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Abstract
This paper brings together firm-level research on business models and industry-level research on value migration to examine patterns of business model innovation. We draw on qualitative data from 14 cases and 68 interviews in the computer and telecommunications industries to demonstrate how business model innovation is sensitive to industry-wide forces of value migration. Based on our analysis we conclude that when value is rapidly migrating across industries and between firms, proactively substituting key elements of the primary business model provides a better fit with the new value landscape than launching secondary business models in parallel. We suggest four underlying mechanisms that link business model innovation, value migration and subsequent outcomes. Unpacking business model innovation allows us to discuss contingencies for the main business model strategies, specifically in terms of limitations to—and opportunities of—changing the primary business model and the practice of parallel business models
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Keywords
Organizational Change, Business Planning, Business Models, Business Enterprises, Telecommunication, Qualitative Research