Business model innovation: Past research, current debates, and future directions

Purpose – The purpose of this paper is to provide state-of-the-art knowledge about business model innovation (BMI) and suggest avenues for future research.
Design/methodology/approach – A systematic literature review approach was adopted with thematic analysis being conducted on 92 articles. Findings – The body of knowledge for this concept is in its infancy and is highly fragmented. This study therefore attempts to consolidate this fragmented knowledge. It reveals dominant themes, establishes coherence, and identifies conflicting arguments in the current literature. It also points out gaps in the research Q1 and highlights new directions for research. Research limitations/implications – This study analyzed articles that were found based on a systematic literature review approach. Practical implications – This study identifies some fundamental issues that managers need to understand regarding BMI. Originality/value – The main value of this study lies in its synthesis of the current knowledge of BMI.