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A six-step approach to business model innovation

Author

Listed:
  • Markus Eurich
  • Tobias Weiblen
  • Pablo Breitenmoser

Abstract

In both theory and practice, business model innovation is acknowledged as an important means to gain a competitive edge. Designing a new business model, however, requires profound knowledge, experience and skills. To support the task, practitioners can rely on a set of techniques, namely cases, component-based approaches, taxonomies, conceptual models, causal loop diagrams and design patterns. We argue that these techniques only provide valuable support during specific steps of the design process. In addition, there is a tendency towards focusing on model-internal consistency while neglecting the organisation's actual mission and external business environment. Therefore, this study proposes a complementary six-step approach to business model innovation, which is based on the principles of 'networked thinking'. This holistic and systemic approach comprises features of established techniques and explicates assumptions about the organisation's specific business situation. It gives entrepreneurs, decision makers and managers a better handle on structuring, communicating and evaluating different business model designs.

Suggested Citation

  • Markus Eurich & Tobias Weiblen & Pablo Breitenmoser, 2014. "A six-step approach to business model innovation," International Journal of Entrepreneurship and Innovation Management, Inderscience Enterprises Ltd, vol. 18(4), pages 330-348.
  • Handle: RePEc:ids:ijeima:v:18:y:2014:i:4:p:330-348
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    Citations

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    Cited by:

    1. 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.
    2. Mikhail Yakovlevich Veselovsky & Mikhail Sergeyevich Abrashkin & Dmitry Stanislavovich Vakhrushev & Lyudmila Borisovna Parfenova & Andrey Yuryevich Volkov, 2017. "Knowledge-Based Engineering as a Driver of Economic Development of the Regions of Russia," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 66-85.
    3. Kristina Lygnerud, 2019. "Business Model Changes in District Heating: The Impact of the Technology Shift from the Third to the Fourth Generation," Energies, MDPI, vol. 12(9), pages 1-16, May.
    4. Lygnerud, Kristina & Popovic, Tobias & Schultze, Sebastian & Støchkel, Hanne Kortegaard, 2023. "District heating in the future - thoughts on the business model," Energy, Elsevier, vol. 278(C).
    5. Jingxiao Zhang & Haiyan Xie & Hui Li & Rose Timothy & Si Pu & Quanxue Deng & Weixing Jin, 2018. "Integrated Framework of Growth Management for Identification of Service Innovation Levels and Priorities," Sustainability, MDPI, vol. 10(9), pages 1-33, September.

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