By Georg Stampfl
Georg Stampfl explores intimately the character of commercial version innovation techniques in confirmed businesses from the organizational and the person point of view. He outlines while and why the method of industrial version innovation is all started, how the method of industrial version innovation unfolds and what contributes to or inhibits good fortune. furthermore, the writer investigates how contributors realize new enterprise versions and the way innovation groups collaborate in company version innovation tasks. in keeping with those insights the writer offers useful directions on how businesses can take on the company version innovation challenge.
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Extra resources for The Process of Business Model Innovation : An Empirical Exploration
2007; Björkdahl 2009). Companies commercialize new technologies through their business models by making various choices of organizing the firm around the technology (Perkmann & Spicer 2010). (5) Business models as a strategic variable The business model can also be defined as a strategic variable as it represents an important source of competitive advantage (Christensen 2001). The literature suggests that a key element of corporate strategy is the choice of a business model. The particular business model in turn determines different sets of tactics available to the firm (Casadesus-Masanell & Ricart 2010).
Ideas are supposed to flow, circulate, and iterate among these five key elements. The authors suggest that this model is followed by a more formal New Product Development (NPD) process. In contrast to the NCDM, the latter is defined as a series of sequential, well-structured, and chronologically ordered steps (Koen et al. 51). Figure 8: New Concept Development Model (NCDM) Source: Koen et al. 2001 Schoen et al. (2005) suggest another innovation cycle model. Contrary to the NCDM, this model aims at covering the whole innovation process, from basic research to successful commercialization.
However, it also emphasizes the importance of the business model as an important part of the innovation process (Figure 9). The model deliberately refrains from including neither clearly defined outcomes nor a clearly defined process as Schoen et al. underline that “innovation is not a step-by-step, set the pins up and knock them down type of operation and regularly requires mating a good product idea with an even better business concept. 5). 20 State of Research Figure 9: The Innovation Cycle Model Source: Schoen et al.