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TitleA value-based approach to business model innovation: defining the elements of the concept
Author(s)Rezazadeh, Arash
Carvalho, Ana
KeywordsBusiness model
Business model innovation
Value-based perspective
Configurational approach
Issue date2018
PublisherUniversidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
Abstract(s)Business model innovation (BMI) has increasingly attracted attention by proposing the business model (BM) as a new unit of analysis in the study of innovation. However, the definition and dimensioning of the concept is still unclear. This paper thereby aims to identify a consistent set of interdependent BMI elements, aligning with a configurational approach. Taking a value-based perspective, we review the existing contributions to date and arrive at five elements of BMI, each focused on one facet of the company’s BM: (1) value creation innovation; (2) value proposition innovation; (3) value delivery innovation; (4) value capture innovation; and (5) value network innovation. This study contributes to the growing BMI literature by proposing a unique classification underpinned by a value-grounded theory of the firm. Furthermore, we describe how these five dimensions interact and explore its implications. Throughout, we illustrate our ideas with the examples of existing companies.
TypeWorking paper
Publisher version
AccessOpen access
Appears in Collections:NIPE - Documentos de Trabalho

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