Managing business model innovation risks - lessons for theory and practice

Yariv Taran, René Chester Goduscheit, Harry Boer

Research output: Contribution to book/anthology/report/conference proceedingArticle in proceedingResearchpeer-review

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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.
Original languageEnglish
Title of host publicationProceedings of the 16th International CINet Conference on Pursuing Innovation Leadership
Number of pages10
Volume16
Place of PublicationEnschede
PublisherContinuous Innovation Network
Publication dateSep 2015
Pages919-929
ISBN (Electronic)978-90-77360-18-7
Publication statusPublished - Sep 2015
Event16th International CINet Conference on Pursuing Innovation Leadership: Pursuing Innovation Leadership - Royal Institute of Technology, Stockholm, Sweden
Duration: 13 Sep 201515 Sep 2015
Conference number: 16

Conference

Conference16th International CINet Conference on Pursuing Innovation Leadership
Number16
LocationRoyal Institute of Technology
CountrySweden
CityStockholm
Period13/09/201515/09/2015

Keywords

  • Business model innovation
  • Risk management
  • Case studies

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