Abstract
This paper focuses on the challenges related to, and the risk management needed
in, the process of business model innovation. Business model innovation may
involve hefty investments, high levels of uncertainty, complexity and, inevitably,
risk. Although many firms follow a first mover strategic approach, arguing from a
“no risk no reward” aphorism, a sloppy implementation approach towards
business model innovation may result in catastrophic, sometimes even fatal,
consequences to a firm’s core business. Based on four unsuccessful business model
innovation experiences, which took place in three industrial firms, we discuss the
reasons that led to these failures, and outline various possible solutions for
practitioners to manage business model innovation adequately.
in, the process of business model innovation. Business model innovation may
involve hefty investments, high levels of uncertainty, complexity and, inevitably,
risk. Although many firms follow a first mover strategic approach, arguing from a
“no risk no reward” aphorism, a sloppy implementation approach towards
business model innovation may result in catastrophic, sometimes even fatal,
consequences to a firm’s core business. Based on four unsuccessful business model
innovation experiences, which took place in three industrial firms, we discuss the
reasons that led to these failures, and outline various possible solutions for
practitioners to manage business model innovation adequately.
| Originalsprog | Engelsk |
|---|---|
| Titel | Proceedings of the 16th International CINet Conference on Pursuing Innovation Leadership |
| Antal sider | 10 |
| Vol/bind | 16 |
| Udgivelsessted | Enschede |
| Forlag | Continuous Innovation Network |
| Publikationsdato | sep. 2015 |
| Sider | 919-929 |
| ISBN (Elektronisk) | 978-90-77360-18-7 |
| Status | Udgivet - sep. 2015 |
| Begivenhed | 16th International CINet conference: Pursuing Innovation Leadership - Royal Institute of Technology, Stockholm, Sverige Varighed: 13 sep. 2015 → 15 sep. 2015 Konferencens nummer: 16 |
Konference
| Konference | 16th International CINet conference |
|---|---|
| Nummer | 16 |
| Lokation | Royal Institute of Technology |
| Land/Område | Sverige |
| By | Stockholm |
| Periode | 13/09/2015 → 15/09/2015 |