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Business Model Innovation and exaptation: A new way of innovating in SMEs

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  • Codini, Anna Paola
  • Abbate, Tindara
  • Messeni Petruzzelli, Antonio

Abstract

Although research underlines the need for SMEs to innovate their Business Model, they face considerable challenges in exploring external business opportunities and experimenting/developing their available resources in unexpected ways. We posit that one way that SMEs can innovate their Business Model is through exaptation, a discontinuous evolutionary process that allows utilizing and adapting existing resources in new application domains. Using a case study approach, we investigate the case of a SME that has successfully innovated its Business Model through exaptation. We then discuss how three key exaptation processes lead to value creation, delivery and capturing, thus supporting Business Model Innovation in SMEs.

Suggested Citation

  • Codini, Anna Paola & Abbate, Tindara & Messeni Petruzzelli, Antonio, 2023. "Business Model Innovation and exaptation: A new way of innovating in SMEs," Technovation, Elsevier, vol. 119(C).
    • Handle: RePEc:eee:techno:v:119:y:2023:i:c:s0166497222000955
    DOI: 10.1016/j.technovation.2022.102548
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    1. Priyadarshini Das & Amer A. Hijazi & Duncan W. Maxwell & Robert C. Moehler, 2023. "Can Business Models Facilitate Strategic Transformation in Construction Firms? A Systematic Review and Research Agenda," Sustainability, MDPI, vol. 15(17), pages 1-20, August.

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