Abstract
This contribution addresses the impact of disruptive technologies on business model innovation. While such technologies have the potential to significantly alter the way in which businesses operate, business model inertia hinders companies from adopting the new technological possibilities. Little research has focused on the difficulties incumbents face when innovating their business models. By reviewing current literature on business model innovation, this paper summarizes challenges companies face when dealing with potential disruptive technologies and creating viable business models.
Highlights
Technological innovations increasingly impact the transformation of business models (BM) [1]
This paper discusses the impact of disruptive technologies on business model innovation (BMI) and the factors that hinder the adoption of new technological developments
Throughout history, successful firms have often experimented with new technologies to forestall their replacement by new firms
Summary
Technological innovations increasingly impact the transformation of business models (BM) [1]. Disruptive technological developments significantly influence business environments and alter the way in which businesses are operated. These technologies replace existing technologies of incumbents by sacrificing features that are important to current customers and offering different attributes [2] and change the performance metrics along which firms compete [3]. It is important to understand how disruptive technologies drive business model innovation (BMI) and which difficulties incumbents face when adopting new technological options. This paper discusses the impact of disruptive technologies on BMI and the factors that hinder the adoption of new technological developments. 4 discusses different causes of business model inertia, followed by the conclusion of the paper
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