IDEAS home Printed from https://ideas.repec.org/a/eee/jbrese/v204y2026ics0148296325006587.html

Business model innovation from dynamic capabilities perspective: A systematic literature review

Author

Listed:
  • Cruz-Sánchez, Oscar
  • Cruz-Cázares, Claudio
  • Hernandez-Vivanco, Alfonso

Abstract

Business model innovation (BMI) is increasingly recognized as a key source of competitive advantage and organizational performance. BMI is rooted in the dynamic capabilities (DC) perspective as an iterative process that involves the reconfiguration of activities, competencies, and routines. Despite the growing body of research on BMI, its relationship with DC remains fragmented. This study addresses this gap by systematically reviewing 57 peer-reviewed articles, applying the Antecedents, Decisions, and Outcomes (ADO) framework alongside the Theories, Context, and Methods (TCM) framework. Our analysis advances understanding by proposing an integrated framework in which DC drive BMI as a continuous process. The study identifies strategic sensing, business model (re)configuration, resource alignment, and organizational learning as key processes within DC that shape the BMI process. Additionally, two cross-cutting DC–managerial dynamic capabilities and stakeholder engagement–are highlighted as critical enablers. These findings offer actionable strategies for managers to foster innovation and effectively navigate environmental uncertainty.

Suggested Citation

  • Cruz-Sánchez, Oscar & Cruz-Cázares, Claudio & Hernandez-Vivanco, Alfonso, 2026. "Business model innovation from dynamic capabilities perspective: A systematic literature review," Journal of Business Research, Elsevier, vol. 204(C).
    • Handle: RePEc:eee:jbrese:v:204:y:2026:i:c:s0148296325006587
    DOI: 10.1016/j.jbusres.2025.115835
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0148296325006587
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jbusres.2025.115835?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. David J. Teece & Greg Linden, 2017. "Business models, value capture, and the digital enterprise," Journal of Organization Design, Springer;Organizational Design Community, vol. 6(1), pages 1-14, December.
    2. Chengbin Wang & Minju Chen & Qingyang Wang & Yongyan Fang, 2023. "The study of value network reconstruction and business model innovation driven by entrepreneurial orientation," International Entrepreneurship and Management Journal, Springer, vol. 19(4), pages 2013-2036, December.
    3. Daniela Andreini & Cristina Bettinelli & Nicolai J. Foss & Marco Mismetti, 2022. "Business model innovation: a review of the process-based literature," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 26(4), pages 1089-1121, December.
    4. Heider, Anne & Gerken, Maike & van Dinther, Nicolas & Hülsbeck, Marcel, 2021. "Business model innovation through dynamic capabilities in small and medium enterprises – Evidence from the German Mittelstand," Journal of Business Research, Elsevier, vol. 130(C), pages 635-645.
    5. Atik Kulakli & Cenk Lacin Arikan, 2023. "Research Trends of the Internet of Things in Relation to Business Model Innovation: Results from Co-Word and Content Analyses," Future Internet, MDPI, vol. 15(2), pages 1-17, February.
    6. Ancillai, Chiara & Sabatini, Andrea & Gatti, Marco & Perna, Andrea, 2023. "Digital technology and business model innovation: A systematic literature review and future research agenda," Technological Forecasting and Social Change, Elsevier, vol. 188(C).
    7. Snyder, Hannah, 2019. "Literature review as a research methodology: An overview and guidelines," Journal of Business Research, Elsevier, vol. 104(C), pages 333-339.
    8. Hongjun Xiao & Zhen Yang & Yelin Hu, 2021. "Influencing mechanism of strategic flexibility on corporate performance: the mediating role of business model innovation," Asia Pacific Business Review, Taylor & Francis Journals, vol. 27(3), pages 470-492, May.
    9. Yuan, Chun & Xue, Doudou & He, Xin, 2021. "A balancing strategy for ambidextrous learning, dynamic capabilities, and business model design, the opposite moderating effects of environmental dynamism," Technovation, Elsevier, vol. 103(C).
    10. Ron Adner & Constance E. Helfat, 2003. "Corporate effects and dynamic managerial capabilities," Strategic Management Journal, Wiley Blackwell, vol. 24(10), pages 1011-1025, October.
    11. Paul, Justin & Criado, Alex Rialp, 2020. "The art of writing literature review: What do we know and what do we need to know?," International Business Review, Elsevier, vol. 29(4).
    12. Jonas Soluk & Ivan Miroshnychenko & Nadine Kammerlander & Alfredo De Massis, 2021. "Family Influence and Digital Business Model Innovation: The Enabling Role of Dynamic Capabilities," Entrepreneurship Theory and Practice, , vol. 45(4), pages 867-905, July.
    13. Mirella Muhic & Lars Bengtsson, 2021. "Dynamic capabilities triggered by cloud sourcing: a stage-based model of business model innovation," Review of Managerial Science, Springer, vol. 15(1), pages 33-54, January.
    14. Wenjun Huang & Takeyasu Ichikohji, 2022. "Do Dynamic Capabilities Facilitate Business Model Innovation In Small And Medium-Sized Chinese Family Companies?," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 26(06), pages 1-34, August.
    15. Tim Heubeck & Reinhard Meckl, 2022. "Antecedents to cognitive business model evaluation: a dynamic managerial capabilities perspective," Review of Managerial Science, Springer, vol. 16(8), pages 2441-2466, November.
    16. Ricarda B. Bouncken & Christian Lehmann & Katharina Fellnhofer, 2016. "The role of entrepreneurial orientation and modularity for business model innovation in service companies," International Journal of Entrepreneurial Venturing, Inderscience Enterprises Ltd, vol. 8(3), pages 237-260.
    17. De Silva, Muthu & Al-Tabbaa, Omar & Khan, Zaheer, 2021. "Business model innovation by international social purpose organizations: The role of dynamic capabilities," Journal of Business Research, Elsevier, vol. 125(C), pages 733-749.
    18. Kathleen M. Eisenhardt & Jeffrey A. Martin, 2000. "Dynamic capabilities: what are they?," Strategic Management Journal, Wiley Blackwell, vol. 21(10‐11), pages 1105-1121, October.
    19. Ignė Stalmokaitė & Tommy Larsson Segerlind & Johanna Yliskylä‐Peuralahti, 2023. "Revival of wind‐powered shipping: Comparing the early‐stage innovation process of an incumbent and a newcomer firm," Business Strategy and the Environment, Wiley Blackwell, vol. 32(2), pages 958-975, February.
    20. Francisco-Jose Molina-Castillo & Noemi Sinkovics & Rudolf R. Sinkovics, 2021. "Sustainable Business Model Innovation: Review, Analysis and Impact on Society," Sustainability, MDPI, vol. 13(16), pages 1-4, August.
    21. Ciampi, Francesco & Demi, Stefano & Magrini, Alessandro & Marzi, Giacomo & Papa, Armando, 2021. "Exploring the impact of big data analytics capabilities on business model innovation: The mediating role of entrepreneurial orientation," Journal of Business Research, Elsevier, vol. 123(C), pages 1-13.
    22. Malik, Ashish & Pereira, Vijay & Budhwar, Pawan & Varma, Arup & Del Giudice, Manlio, 2022. "Sustainable innovations in an indigenous Indian Ayurvedic MNE," Journal of Business Research, Elsevier, vol. 145(C), pages 402-413.
    23. Ling Pan & Zeshui Xu & Marinko Skare, 2023. "Sustainable business model innovation literature: a bibliometrics analysis," Review of Managerial Science, Springer, vol. 17(3), pages 757-785, April.
    24. Benoît Demil & Xavier Lecocq & Joan E. Ricart & Christoph Zott, 2015. "Introduction to theSEJSpecial Issue on Business Models: Business Models within the Domain of Strategic Entrepreneurship," Post-Print hal-01563054, HAL.
    25. Randhawa, Krithika & Wilden, Ralf & Gudergan, Siegfried, 2021. "How to innovate toward an ambidextrous business model? The role of dynamic capabilities and market orientation," Journal of Business Research, Elsevier, vol. 130(C), pages 618-634.
    26. David J. Teece, 2012. "Dynamic Capabilities: Routines versus Entrepreneurial Action," Journal of Management Studies, Wiley Blackwell, vol. 49(8), pages 1395-1401, December.
    27. Christoph Zott & Raphael Amit, 2007. "Business Model Design and the Performance of Entrepreneurial Firms," Organization Science, INFORMS, vol. 18(2), pages 181-199, April.
    28. Lim, Weng Marc & Yap, Sheau-Fen & Makkar, Marian, 2021. "Home sharing in marketing and tourism at a tipping point: What do we know, how do we know, and where should we be heading?," Journal of Business Research, Elsevier, vol. 122(C), pages 534-566.
    29. Sidney G. Winter, 2003. "Understanding dynamic capabilities," Strategic Management Journal, Wiley Blackwell, vol. 24(10), pages 991-995, October.
    30. Mihailova, Irina, 2023. "Business model adaptation for realized international scaling of born-digitals," Journal of World Business, Elsevier, vol. 58(2).
    31. Constance E. Helfat & Margaret A. Peteraf, 2015. "Managerial cognitive capabilities and the microfoundations of dynamic capabilities," Strategic Management Journal, Wiley Blackwell, vol. 36(6), pages 831-850, June.
    32. Barbara Brenner & Daria Drdla, 2023. "Business Model Innovation toward Sustainability and Circularity—A Systematic Review of Innovation Types," Sustainability, MDPI, vol. 15(15), pages 1-20, July.
    33. Qiang Xu & Jinghui Yu & Jianxin Xu & Guangxi Zhang & Canying Liang, 2021. "How business model innovation overcomes barriers during manufacturers’ servitization transformation: a case study of two top piano manufacturers in China," Asia Pacific Business Review, Taylor & Francis Journals, vol. 27(3), pages 378-404, May.
    34. Bouncken, Ricarda B. & Fredrich, Viktor, 2016. "Business model innovation in alliances: Successful configurations," Journal of Business Research, Elsevier, vol. 69(9), pages 3584-3590.
    35. Blendi Gerdoçi & Nertila Busho & Daniela Lena & Marco Cucculelli, 2023. "Disentangling the relationship between business model, absorptive capacity, differentiation strategy and performance. Evidence from a transition economy," European Journal of Innovation Management, Emerald Group Publishing Limited, vol. 26(7), pages 385-414, June.
    36. Changwei Pang & Qiong Wang & Songqiang Wu, 2022. "Influence of dynamic capabilities on novelty-centered business model design: a moderated mediating effect analysis," European Journal of Innovation Management, Emerald Group Publishing Limited, vol. 26(5), pages 1421-1443, March.
    37. Nancy Bocken & Lars Strupeit & Katherine Whalen & Julia Nußholz, 2019. "A Review and Evaluation of Circular Business Model Innovation Tools," Sustainability, MDPI, vol. 11(8), pages 1-25, April.
    38. Barbara Bigliardi & Serena Filippelli, 2021. "Investigating Circular Business Model Innovation through Keywords Analysis," Sustainability, MDPI, vol. 13(9), pages 1-23, April.
    39. Malik, Ashish & Sharma, Piyush & Kingshott, Russel & Laker, Benjamin, 2022. "Leveraging cultural and relational capabilities for business model innovation: The case of a digital media EMMNE," Journal of Business Research, Elsevier, vol. 149(C), pages 270-282.
    40. Williams, Ralph I. & Clark, Leigh Anne & Clark, W. Randy & Raffo, Deana M., 2021. "Re-examining systematic literature review in management research: Additional benefits and execution protocols," European Management Journal, Elsevier, vol. 39(4), pages 521-533.
    41. Sascha Kraus & Matthias Breier & Sonia Dasí-Rodríguez, 2020. "The art of crafting a systematic literature review in entrepreneurship research," International Entrepreneurship and Management Journal, Springer, vol. 16(3), pages 1023-1042, September.
    42. Maurizio Zollo & Sidney G. Winter, 2002. "Deliberate Learning and the Evolution of Dynamic Capabilities," Organization Science, INFORMS, vol. 13(3), pages 339-351, June.
    43. Sebastian Schroedel, 2023. "The Sustainable Business Model Database: 92 Patterns That Enable Sustainability in Business Model Innovation," Sustainability, MDPI, vol. 15(10), pages 1-27, May.
    44. B. Demil & X. Lecocq, 2010. "Business model evolution : in search of dynamic consistency," Post-Print hal-00572915, HAL.
    45. Sascha Kraus & Matthias Breier & Weng Marc Lim & Marina Dabić & Satish Kumar & Dominik Kanbach & Debmalya Mukherjee & Vincenzo Corvello & Juan Piñeiro-Chousa & Eric Liguori & Daniel Palacios-Marqués &, 2022. "Literature reviews as independent studies: guidelines for academic practice," Review of Managerial Science, Springer, vol. 16(8), pages 2577-2595, November.
    46. Edurne A. Inigo & Laura Albareda & Paavo Ritala, 2017. "Business model innovation for sustainability: exploring evolutionary and radical approaches through dynamic capabilities," Industry and Innovation, Taylor & Francis Journals, vol. 24(5), pages 515-542, July.
    47. David J. Teece & Gary Pisano & Amy Shuen, 1997. "Dynamic capabilities and strategic management," Strategic Management Journal, Wiley Blackwell, vol. 18(7), pages 509-533, August.
    48. Bocken, Nancy & Konietzko, Jan, 2022. "Circular business model innovation in consumer-facing corporations," Technological Forecasting and Social Change, Elsevier, vol. 185(C).
    49. Jorzik, Philip & Klein, Sascha P. & Kanbach, Dominik K. & Kraus, Sascha, 2024. "AI-driven business model innovation: A systematic review and research agenda," Journal of Business Research, Elsevier, vol. 182(C).
    50. Matthias Fabian Gregersen Trischler & Jason Li-Ying, 2023. "Digital business model innovation: toward construct clarity and future research directions," Review of Managerial Science, Springer, vol. 17(1), pages 3-32, January.
    51. Norman Schaffer & Sebastian Hermes & Jã–Rg Weking & Andreas Hein & Helmut Krcmar, 2022. "Continuous Business Model Innovation And Dynamic Capabilities: The Case Of Cewe," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 26(06), pages 1-43, August.
    52. Zhang, Hongfang & Xiao, Huilin & Wang, Yanling & Shareef, Mahmud A. & Akram, Muhammad Shakaib & Goraya, M. Awais Shakir, 2021. "An integration of antecedents and outcomes of business model innovation: A meta-analytic review," Journal of Business Research, Elsevier, vol. 131(C), pages 803-814.
    53. Vanessa Weimann & Maike Gerken & Marcel Hülsbeck, 2020. "Business model innovation in family firms: dynamic capabilities and the moderating role of socioemotional wealth," Journal of Business Economics, Springer, vol. 90(3), pages 369-399, April.
    54. Matarazzo, Michela & Penco, Lara & Profumo, Giorgia & Quaglia, Roberto, 2021. "Digital transformation and customer value creation in Made in Italy SMEs: A dynamic capabilities perspective," Journal of Business Research, Elsevier, vol. 123(C), pages 642-656.
    55. Tomas Santa‐Maria & Walter J. V. Vermeulen & Rupert J. Baumgartner, 2022. "How do incumbent firms innovate their business models for the circular economy? Identifying micro‐foundations of dynamic capabilities," Business Strategy and the Environment, Wiley Blackwell, vol. 31(4), pages 1308-1333, May.
    56. Noemi Sinkovics & Denanjalee Gunaratne & Rudolf R. Sinkovics & Francisco-Jose Molina-Castillo, 2021. "Sustainable Business Model Innovation: An Umbrella Review," Sustainability, MDPI, vol. 13(13), pages 1-17, June.
    57. Daliborka Witschel & Aaron Döhla & Maximilian Kaiser & Kai-Ingo Voigt & Thilo Pfletschinger, 2019. "Riding on the wave of digitization: insights how and under what settings dynamic capabilities facilitate digital-driven business model change," Journal of Business Economics, Springer, vol. 89(8), pages 1023-1095, December.
    58. Shaker A. Zahra & Harry J. Sapienza & Per Davidsson, 2006. "Entrepreneurship and Dynamic Capabilities: A Review, Model and Research Agenda," Journal of Management Studies, Wiley Blackwell, vol. 43(4), pages 917-955, June.
    59. Dimitrios Kafetzopoulos & Elpida Tryfon Samara & Ypatia Theodorakioglou, 2023. "Multiple organizational capabilities for effective business model innovation and increased performance," European Journal of Innovation Management, Emerald Group Publishing Limited, vol. 27(8), pages 2925-2943, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Daliborka Witschel & Julian Marius Müller & Kai-Ingo Voigt, 2023. "What Takes the Wind out of Their Sails? A Micro-Foundational Perspective of Challenges for Building Dynamic Capabilities Towards Digital Business Model Innovation," Schmalenbach Journal of Business Research, Springer, vol. 75(3), pages 345-388, September.
    2. Scheuer, Luca Joachim & Thaler, Julia, 2023. "How do dynamic capabilities affect performance? A systematic review of mediators," European Management Journal, Elsevier, vol. 41(6), pages 914-931.
    3. Evers, Natasha & Ojala, Arto & Sousa, Carlos M.P. & Criado-Rialp, Alex, 2023. "Unraveling business model innovation in firm internationalization: A systematic literature review and future research agenda," Journal of Business Research, Elsevier, vol. 158(C).
    4. Daliborka Witschel & Aaron Döhla & Maximilian Kaiser & Kai-Ingo Voigt & Thilo Pfletschinger, 2019. "Riding on the wave of digitization: insights how and under what settings dynamic capabilities facilitate digital-driven business model change," Journal of Business Economics, Springer, vol. 89(8), pages 1023-1095, December.
    5. Yuan, Chun & Xue, Doudou & He, Xin, 2021. "A balancing strategy for ambidextrous learning, dynamic capabilities, and business model design, the opposite moderating effects of environmental dynamism," Technovation, Elsevier, vol. 103(C).
    6. Sebrek, Szabolcs S. & Romme, A. Georges L. & Kosztyán, Zsolt T., 2025. "How to create dynamic capabilities: A design science study," Technovation, Elsevier, vol. 143(C).
    7. Carlo Salvato & Roberto Vassolo, 2018. "The sources of dynamism in dynamic capabilities," Strategic Management Journal, Wiley Blackwell, vol. 39(6), pages 1728-1752, June.
    8. Vilmar Antônio Gonçalves Tondolo & Cláudia Cristina Bitencourt, 2014. "Understanding Dynamic Capabilities from Its Antecedents, Processes and Outcomes," Brazilian Business Review, Fucape Business School, vol. 11(5), pages 122-144, October.
    9. Jutta Wollersheim & Koen H. Heimeriks, 2016. "Dynamic Capabilities and Their Characteristic Qualities: Insights from a Lab Experiment," Organization Science, INFORMS, vol. 27(2), pages 233-248, April.
    10. Amandine Maus & Sylvie Sammut, 2018. "Business model innovation in incubators: the role played by dynamic capabilities theory," Post-Print hal-02466175, HAL.
    11. Cristina Fernandes & João J. Ferreira & Mário L. Raposo & Cristina Estevão & Marta Peris-Ortiz & Carlos Rueda-Armengot, 2017. "The dynamic capabilities perspective of strategic management: a co-citation analysis," Scientometrics, Springer;Akadémiai Kiadó, vol. 112(1), pages 529-555, July.
    12. Byungjoo Paek & Heesang Lee, 2018. "Strategic entrepreneurship and competitive advantage of established firms: evidence from the digital TV industry," International Entrepreneurship and Management Journal, Springer, vol. 14(4), pages 883-925, December.
    13. Che-Chuan Hsu & Rua-Huan Tsaih & David C. Yen, 2018. "The Evolving Role of IT Departments in Digital Transformation," Sustainability, MDPI, vol. 10(10), pages 1-18, October.
    14. Remedios Hernández-Linares & María Concepción López-Fernández & Gema García-Piqueres & Miguel Pina e Cunha & Arménio Rego, 2024. "How knowledge-based dynamic capabilities relate to firm performance: the mediating role of entrepreneurial orientation," Review of Managerial Science, Springer, vol. 18(10), pages 2781-2813, October.
    15. Anja Schulze & Stefano Brusoni, 2022. "How dynamic capabilities change ordinary capabilities: Reconnecting attention control and problem‐solving," Strategic Management Journal, Wiley Blackwell, vol. 43(12), pages 2447-2477, December.
    16. Shaker A. Zahra & Olga Petricevic & Yadong Luo, 2022. "Toward an action-based view of dynamic capabilities for international business," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(4), pages 583-600, June.
    17. Richard Arend, 2013. "Ethics-focused dynamic capabilities: a small business perspective," Small Business Economics, Springer, vol. 41(1), pages 1-24, June.
    18. Cleverton Rodrigues Fernandes & André Gustavo Carvalho Machado, 2019. "Technology Transfer Capability: development dynamics in higher education institutions," Brazilian Business Review, Fucape Business School, vol. 16(1), pages 1-15, January.
    19. Rui Silva & Cidália Oliveira, 2020. "The Influence of Innovation in Tangible and Intangible Resource Allocation: A Qualitative Multi Case Study," Sustainability, MDPI, vol. 12(12), pages 1-22, June.
    20. Patrick Held & Tim Heubeck & Reinhard Meckl, 2026. "Boosting SMEs’ digital transformation: the role of dynamic capabilities in cultivating digital leadership and digital culture," Review of Managerial Science, Springer, vol. 20(5), pages 1687-1715, May.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jbrese:v:204:y:2026:i:c:s0148296325006587. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jbusres .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.