BUSINESS MODEL INNOVATION: TOWARDS AN INTEGRATED FUTURE RESEARCH AGENDA

Abstract

Motivated by the high ubiquity of the term "business models" and its increasing proliferation in terms of the transition from a measure to commercialise innovations to the subject of innovations, this paper provides a systematic review of extant academic literature on business model innovation. The particular characteristics of business model innovation are discussed and three distinct research streams addressing prerequisites, process and elements, and effects of business model innovation are identified. A tentative theoretical framework emphasising the need to distinguish between developing and innovating business models as well as to apply an entrepreneurial perspective for further research on business model innovation is proposed. An integrated research agenda emphasising the need to further enhance our understanding of the process and elements of business model innovation as well as its enablers and effects in anticipation and response to increasing environmental volatility is suggested.