Novelty and Sustainability: The Generation Process of Original Business Model Innovation

Abstract

Compared to incremental business model innovation, the impact of original business model innovation on both enterprises and societal development is more significant. The process of its emergence has attracted considerable attention. This article defines the concept of original business model and divides the process of its formation into two steps: achieving novelty and sustainability. Employing an exploratory multiple case study method, the research and analysis are conducted on six startup enterprises with characteristics of original business model innovation. The study reveals that achieving novelty involves three stages, i.e., heterogeneous knowledge accumulation, pain point perception, and opportunity identification, as well as cross-domain thinking application and creative formation. Achieving sustainability entails three stages: concept definition, business model development, and business model validation. Throughout this process, the effective integration of cross-domain knowledge is achieved through iterative experimentation, garnering support and recognition from stakeholders. The attainment of sustainability is pivotal to the success of original business models.