An evolutionary approach to business model innovation

Wissenschaftlicher Aufsatz , 2014 , 32 Seiten , Note: 4-th year of PhD

VWL - Innovationsökonomik

In the article it is asserted that business model innovation potential has not yet been fully released first because of a lack of business model definition and a consistent methodological framework, second because, on a more general plan, the whole system of assumptions on which innovation activity of this kind has been based possibly needs re-evaluation. It is argued that a change of theoretical foundation is needed because of systemic inconsistencies which impede present approaches application. It is assumed that difficulties arise due to peculiarities of mainstream economics framework upon which these approaches have implicitly been built. While authors of neoclassical approaches admit outside factors influence on the business model, these factors remain conceptually isolated from the business model. To overcome this problem there has been suggested a framework for business model innovation based on the evolutionary economic theory. The evolutionary approach to business model innovation is characterised by focus on processes of long-term change and economic agents cause-effect relationship. It is being realised by reference to the evolutionary process that has moulded stable patterns of behaviour of companies on a chosen market. By this reference a trajectory of development of value perception and principles of value creation or business models can be traced and understood, since relationship between routines, value, and business models are mutually dependent. Generalised principles of value creation or basic business models of a market in question are to be adjusted to particular circumstances of an

Inhaltsverzeichnis

• Abstract
• Author's note
• Key words
• Introduction
• Business Model Innovation: A Need for a New Theoretical Foundation
• Evolutionary Economic Theory: A New Theoretical Foundation for Business Model Innovation
• The Evolutionary Approach to Business Model Innovation: A Framework
• Conclusion
• Bibliography

Zielsetzung und Themenschwerpunkte

This article argues that the full potential of business model innovation has not yet been realized due to a lack of a clear definition and a consistent methodological framework. It proposes a new theoretical foundation for business model innovation based on evolutionary economic theory, which emphasizes long-term change and the cause-effect relationship between economic agents. The article aims to provide a framework for understanding and implementing business model innovation within the context of evolutionary economics.

• The need for a new theoretical foundation for business model innovation
• The limitations of existing approaches to business model innovation
• The application of evolutionary economic theory to business model innovation
• A framework for understanding and implementing business model innovation
• The potential of evolutionary economics to provide a more comprehensive understanding of business model innovation

Zusammenfassung der Kapitel

The article begins by outlining the limitations of existing approaches to business model innovation, arguing that they lack a clear definition and a consistent methodological framework. It then introduces the concept of evolutionary economic theory as a potential new theoretical foundation for business model innovation. The article explores the key principles of evolutionary economics, such as long-term change, adaptation, and selection, and how they can be applied to understanding business model innovation. It then presents a framework for understanding and implementing business model innovation based on evolutionary economic theory, emphasizing the importance of understanding the historical context, the role of routines, and the process of value creation. The article concludes by discussing the potential of evolutionary economics to provide a more comprehensive understanding of business model innovation and its implications for businesses and policymakers.

Schlüsselwörter

The key words and focus themes of the text include business model, innovation, evolutionary economic theory, business model innovation, value creation, routines, adaptation, selection, and long-term change. The article explores the application of evolutionary economic theory to business model innovation, highlighting the importance of understanding the historical context, the role of routines, and the process of value creation in driving innovation. It argues that a more comprehensive understanding of business model innovation can be achieved by adopting an evolutionary perspective.

• Hochschule: Saint-Petersburg State University of Economics
• Note: 4-th year of PhD
• Autor: MA Ekaterina G. Navalnaya (Autor:in)
• Erscheinungsjahr: 2014
• Seiten: 32
• Katalognummer: V281957
• ISBN (eBook): 9783656768531
• ISBN (Buch): 9783656768708
• Sprache: Englisch
• Schlagworte: business model, innovation, evolutionary economic theory