Business Model Innovation: Development, Concept and Future Research Directions

Abstract

Purpose: Although business model innovation (BMI) has gained substantial importance in recent years, there is still a limited understanding of this phenomenon. Yet, the corresponding scholarly literature has previously been characterized by a heterogeneous comprehension of the concept. This situation demands an analysis that synthesizes current scienti c knowledge, uncovers research gaps and underdeveloped areas, and estab- lishes a solid foundation for future research.

Design: The study applies an extensive quantitative and qualitative analysis of extant BMI literature, making the concept more transparent and manageable for science and management.

Findings: The study presents a set of yielding de nitions of the extant BMI literature and an integrated de ni- tion to promote a common understanding of BMI. In addition, it classi es the eld into six particular research areas. Given the identi ed dominance of exploratory research designs, future research should put more em- phasis on well-founded conceptual articles that stabilize and consolidate basic research as well as con rma- tory quantitative empirical investigations.

Research limitations / Implictions: Given the database-centered, eclectic nature of the analytical approach, it is unlikely that every available and applicable scienti c publication is included in the analysis. Furthermore, the classi cation of the studies according to certain criteria leads to a loss of information and sometimes can- not be conducted free of doubt since studies occasionally touch multiple criteria.

Originality / Value: Against the background of the study’s focus on BMI, its comparably broad literature basis, and its quantitative and qualitative analysis approach, which provides straightforward recommendations for future research, the study caters an original contribution to the eld.