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From Technological Innovation to Innovative Business Model Design

In: Global Trends in Technology Startup Project Development and Management

Author

Listed:
  • K. V. Mukundhan

    (Indian Institute of Management Tiruchirappalli)

Abstract

Technology has significantly driven value creation and has propelled several competent firms to the top of their respective industries. At the same time, the technological innovation graveyard is filled with novel ideas and promising initiatives that were once backed by superior technological breakthroughs. This chapter explains what technological innovations require to achieve commercial success. The chapter begins with describing the different types of technological innovations from popular academic literature. The next section discusses why technological breakthroughs (or “technical” solutions) need to be translated to “customer” solutions through an appropriate value proposition design. The third section emphasizes business model design as a necessary step to capture economic profits from technological innovations. The final section describes the types of business models in vogue today, the characteristics that make business models disruptive, the challenges incumbent firms face in responding to rivals backed by disruptive business models, and how practicing managers and entrepreneurs can leverage this knowledge to increase the odds of their idea's commercial success.

Suggested Citation

  • K. V. Mukundhan, 2023. "From Technological Innovation to Innovative Business Model Design," Innovation, Technology, and Knowledge Management, in: Srikanta Patnaik & Vincenzo Pallotta & Kayhan Tajeddini (ed.), Global Trends in Technology Startup Project Development and Management, chapter 0, pages 1-15, Springer.
    • Handle: RePEc:spr:innchp:978-3-031-40324-8_1
    DOI: 10.1007/978-3-031-40324-8_1
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