Business model innovation based on new technologies – is it resources driven and dependent?

Abstract

PurposeThe purpose of this paper is to analyse the significance and impact of different resource types and their features on the operation of business model innovation (BMI) based on new technologies and their effects. Specifically, the relationships of nine different types of resources, as well as their features in terms of VRIO and VARIM concepts, and 10 BMI effects of operation were examined. The significance and impact of resources on the operation of BMI are pretty well established in the literature. However, when the analysis is narrowed down to BMI based on new technologies, there is very little research in this field. This is partly because of the subject’s novelty and the wide range and complexity of this phenomenon.Design/methodology/approachThe research covers 483 Polish companies that implement BMI based on new technology. For gathering data, the computer-assisted telephone interview method was used. Analysis is based on Spearman correlation. Results meet the requirement of p-value = 0.01 and are statistically significant and representative.FindingsThe main findings of this paper is that there is a need for building interdependency and synergy between individual types and features of resources and thus properly arrange and orchestrate them to succeed. Moreover, there are several patterns that stand out from the analysis, with the leading role of employees, technology, dynamic capabilities and know-how being the key enablers of BMI transformation.Practical implicationsThe paper presents several compounds and relationships that shed light on the application and effects of BMI based on new technologies in terms of resource utilization, which can help business owners and senior managers to make consistent decisions in matching and orchestrating resources.Originality/valueThis study clarifies theoretical concepts building a resource-based view (VRIO, VARIM, dynamic capabilities, etc.) and their impact on BMI based on new technology. The results expand and complement existing research by shedding new light on resource utilization and orchestration.