City Research Online

Abstract

In this chapter we introduce the concept of business model and business model innovation and provide some guidelines for designing “good” business models. Since this task is generally challenging in that it requires particularly creative reconfigurations, we will also discuss some of the key difficulties that firms may experience when trying to innovate their business model. Reflecting the richness of business model research, we will present three different perspectives. Next, we describe some real-world examples of different business models, and discuss the main reason why incumbents are often slow to react to new business models. We provide two illustrative cases. The first shows how Blockbuster found very difficult to respond to severe disruption in its market created by the innovative business models introduced by new entrants. The second briefly presents the innovative business model of Naked Wines.

Publication Type:	Book Section
Additional Information:	This draft chapter has been published by Edward Elgar Publishing in Capitalizing on Creativity at Work Fostering the Implementation of Creative Ideas in Organizations edited by Škerlavaj M, Černe, M, Dysvik A, Carlsen A. in 2015: https://www.elgaronline.com/view/9781783476497.00023.xml
Subjects:	H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Departments:	Bayes Business School > Management

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