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Business Model Innovation: Impact of Entrepreneurial Competencies to New Value Proposition

Author

Listed:
  • Turulja Lejla

    (University of Sarajevo, School of Economics and Business, Bosnia and Herzegovina)

  • Smajlović Selma

    (University of Tuzla, Faculty of Economics, Bosnia and Herzegovina)

  • Šimičević Vanja

    (Libertas International University, Zagreb, Croatia)

Abstract

Background Rapid changes and dynamic markets significantly impact the way businesses operate. Many companies fail to adapt and innovate their business models, which jeopardises their sustainability. Managers, as key decision-makers, play a pivotal role in the innovation process, whereby their entrepreneurial competencies directly influence various dimensions of business model innovation. Objectives The main aim of this study is to examine the impact of entrepreneurial competencies on the new value proposition dimension of business model innovation (BMI), exploring competencies such as opportunity recognition, analytical thinking, innovativeness, tenacity, and passion for work. It investigates how these competencies contribute to developing new offerings and new channels, attracting new customers and markets, and building new customer relations. Methods/Approach The study is conducted on a sample of 267 managers of medium and large companies across various industries in Bosnia and Herzegovina. The data were analysed using Structural Equation Modelling (SEM). Results The results show that different entrepreneurial competencies have a significant impact on various aspects of a new value proposition. Conclusions The study contributes to a deeper understanding of the influence of different entrepreneurial competencies on new value proposition dimensions within BMI. Managers who effectively utilise these competencies can enhance their companies’ value propositions, thereby increasing competitiveness and business success.

Suggested Citation

  • Turulja Lejla & Smajlović Selma & Šimičević Vanja, 2025. "Business Model Innovation: Impact of Entrepreneurial Competencies to New Value Proposition," Business Systems Research, Sciendo, vol. 16(1), pages 40-59.
    • Handle: RePEc:bit:bsrysr:v:16:y:2025:i:1:p:40-59:n:1003
    DOI: 10.2478/bsrj-2025-0003
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    References listed on IDEAS

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    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration

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