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"Business innovation"
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Business model innovation and competitive imitation: The case of sponsor-based business models
This paper provides the first formal model of business model innovation. Our analysis focuses on sponsor-based business model innovations where a firm monetizes its product through sponsors rather than setting prices to its customer base. We analyze strategic interactions between an innovative entrant and an incumbent where the incumbent may imitate the entrant's business model innovation once it is revealed. The results suggest that an entrant needs to strategically choose whether to reveal its innovation by competing through the new business model, or conceal it by adopting a traditional business model. We also show that the value of business model innovation may be so substantial that an incumbent may prefer to compete in a duopoly rather than to remain a monopolist.
Journal Article
HBR's 10 must reads on innovation
Innovation luminaries including Peter Drucker, Rosabeth Moss Kanter, and Clayton Christensen provide insights and advice that you need to: - Adapt innovations from the developing world to wealthier markets - Plan all-new ventures by testing and tweaking - Manage risk across an innovation portfolio - Avoid classic pitfalls such as stifling innovation with rigid processes - Iterate to arrive at the best possible product offering.
Book
Mainstreaming Green Product Innovation: Why and How Companies Integrate Environmental Sustainability
Green product innovation has been recognized as one of the key factors to achieve growth, environmental sustainability, and a better quality of life. Understanding green product innovation as a result of interaction between innovation and sustainability has become a strategic priority for theory and practice. This article investigates green product innovation by means of a multiple case study analysis of 12 small to medium size manufacturing companies based in Italy and Canada. First, we propose a conceptual framework that presents three key environmental dimensions of green product innovation such as energy minimization, materials reduction, and pollution prevention as identified in the life cycle phases of products. Based on insights gained from in-depth interviews, we discuss firms' motivations to develop green products, environmental policies and targets for products, different dimensions of green product innovation, and challenges faced during developing and marketing of green products. Results from the study are then synthesized and integrated in a toolbox that sheds light on various aspects of green product innovation and provides solutions to challenges and risks that are faced by firms. Finally, implications for managers, academia and public policy makers are discussed.
Journal Article
The business of healthcare innovation
\"The Business of Healthcare Innovation is a wide-ranging analysis of business trends in the manufacturing segment of the healthcare industry. It provides a thorough overview and introduction to the innovative sectors fueling improvements in healthcare: pharmaceuticals, biotechnology, platform technology, medical devices and information technology. For each sector, the book examines the basis and trends in scientific innovation, the business and revenue models pursued to commercialize that innovation, the regulatory constraints within which each sector must operate and the growing issues posed by more activist payers and consumers. Specific topics include market structure and competition, the economics and rationale of product development, pricing, sales and marketing, contract negotiations with buyers, alliances versus mergers, business strategies and prospects for growth. Written by professors of the Wharton School and industry executives, the book shows why healthcare sectors are such an important source of growth in any nation's economy\"--Provided by publisher.
Book
Towards Systematic Sustainable Business Model Innovation: What Can We Learn from Business Model Innovation
This research aims to understand how sustainable business model innovation (SBMI) can learn from business model innovation. For this, first, we conducted a bibliometric analysis to evaluate the relationships between business model innovation and SBMI literature. After this, we performed a systematic literature review to create a comprehensive framework for managing SBMI. The bibliometric analysis showed that the SBMI stream grew quickly and significantly in recent years, evolving into a separated new research stream, which does not leverage recent business model innovation advancements. Through the performed analyses, we were able to discuss critical gaps in the SBMI literature and shed light on possible pathways to solve these gaps through lessons learned from business model innovation. We depicted five critical gaps for managing SBMI; (1) the need to understand the sustainable business model as a wicked problem, in which SBMI leads to “better than before” solutions calling for systematic SBMI, (2) the poor definition of distinctive dimensions of dynamic capabilities for SBMI, (3) the lack of studies exploring the role of open innovation for improving the SBMI process, (4) the lack of tools supporting SBMI implementation and (5) the need to explore game-changing, competitive advantages of SBMI. The findings of this study contribute to guiding future research on SBMI, which can be a basis for further efforts towards sustainable development.
Journal Article
Prescription for excellence : leadership lessons for creating a world-class customer experience from UCLA Health System
Provides a business model based on the UCLA Health System and explains how other businesses can use the same system to provide excellent customer experiences and dominate their industry.
Book
Fragile futures : the uncertain economics of disasters, pandemics, and climate change
\"This book revisits a distinction introduced in 1921 by economists Frank Knight and John Maynard Keynes: that between statistically predictable future events (\"risks\") and statistically unpredictable, uncertain events (\"uncertainties\"). Governments have generally ignored the latter, perceiving phenomena such as pandemics, natural disasters, and climate change as uncontrollable Acts of God. As a result, there has been little if any preparation for future catastrophes. Our modern society is more interconnected and more globalized than ever. Dealing with uncertain future events requires a stronger and more globally coordinated government response. This book suggests a larger, more global government role in dealing with these disasters and keeping economic inequalities low. Major institutional changes, such as regulating the private sector for the common good and dealing with special harms, risks and crises, especially those concerning climate change and pandemics, are necessary in order to achieve any semblance of future progress for humankind\"-- Provided by publisher.
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Business model innovation: a review of the process-based literature
Research on business model innovation (BMI) processes is blossoming and expanding in many directions. Hence, the time is ripe to summarize and systematize this body of knowledge for the benefit of current and future BMI scholars. In this article, we take stock of the current literature to clarify the concept of a BMI process, develop a categorization scheme (a “BMI process framework”), and discuss future research possibilities. Building on a systematic literature review of 114 papers, our categorization delineates different types of BMI processes and corresponding sub-processes. Moreover, we develop a framework that illustrates how BMI processes are interrelated and interconnected. Finally, we identify the main process-related research gaps in BMI research and provide directions for future research that emerge from our categorization and discussion.
Journal Article