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Changing your game, a look at business model innovation : investigating the key capabilities needed to successfully innovate your business model.

Postma, L. (2018) Changing your game, a look at business model innovation : investigating the key capabilities needed to successfully innovate your business model.

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Abstract:For as long as we know, companies have been redesigning and reshaping their business models, with varying success. However, it is still a question why some companies fail at these transformation projects, while others succeed. To see why this is the case, this research looks at the key capabilities to Business Model Innovation. The question to be answered is: “What are the key capabilities to ensure a successful Business Model Innovation project?” The research focuses on Business Model Innovation as being a project, which can either end as a success, or as a failure, rather than an ongoing process. It looks at three groups of capabilities which are expected to influence the successfulness of a Business Model Innovation project. These three groups are based on existing literature on Strategic Agility. To answer the research question, a qualitative study was performed. By conducting in depth semi-structured interviews at three companies, the key capabilities were uncovered. The interviewees were all part of the change process, and were therefore able to recall the capabilities which most influenced the successfulness of their companies transformation. The results show 16 key capabilities to ensure Business Model Innovation success. These capabilities were grouped in three groups: 1. Strategy Innovation, 2. Resource Capitalisation and 3. Networking. It shows that the framework of capabilities influencing strategic agility, can be applied to Business Model Innovation. However, the underlying micro-capabilities only partly overlap. In the end, the group of strategy innovation consist of the following capabilities: Sensing opportunities and challenges, Seizing opportunities, Experimentation and Research, Business model fit, Learning, Goal setting and evaluation, Change management, Leadership involvement. There were five capabilities found for Resource Capitalisation: Utilisation of existing resources, Acquisition of new resources, Company culture, Ambidexterity, Commitment. Three capabilities were found for Networking: Using the current network, Growing the network, Stakeholder management. This study contributes to existing literature by showing that, with some adaptations, the framework of capabilities for Strategic Agility can be applied to single Business Model Innovation projects. Furthermore, it expands knowledge on which capabilities underly Business Model Innovation Success. This knowledge also benefits the companies researched, and businesses in general, since the capabilities found can help companies to see which capabilities they may lack when they decide to undertake a Business Model Innovation project. Thus, when a company would express the desire to change their Business Model, they could refer back to these capabilities and see which capabilities they should develop.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Business Administration MSc (60644)
Link to this item:http://purl.utwente.nl/essays/76814
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