Business Model Innovation (BMI)
Shaping Business Opportunities and Sustainable Growth for Tomorrow.
Research projects at Halmstad University explore how business model innovation could help businesses make innovation happen, while contributing to growth and sustainability.
Firms face challenges
Innovation is when ideas have been developed, commercialized and successfully create value for users and customers.
An increasing amount of research evidence shows hat business models are seen as a key to companies’ innovation capability, competitiveness, renewal and sustainable growth. Since the mid-1990s there has been an increasing interest in business models by both academics and practitioners. The business model concept is multifaceted and puts focus on processes for value creation at system level. It is a holistic approach towards explaining how companies do business and is used to communicate strategic choices, explain how companies create, deliver and capture value a well as facilitate identification of sources of competitiveness.
A business model is nothing else then a simple representation of how a company makes money!
Business model innovation
If a business model is “the fundamental structure for how companies capture, create, and deliver value”, then business model innovation is to "innovate the very theory of the business itself ”.
Business model innovation is the process aiming to create and deliver new forms and levels of value, develop new skills, new strengths, and new ways to make money in the process of identifying and capturing new business opportunities as a result of external and\or internal drivers of change.
Business model innovation is one way to create competitive advantage, if the new model is sufficiently differentiated and hard to replicate for existing companies and new entrants alike.
Business model innovation for sustainability
A holistic vision is required in order to address the challenge of the future for sustainable development. Responding to environmental changes will need to be in parallel with economic and social changes.
Business model innovation is more and more recognized as an important concept approach for delivering greater social and environmental sustainability throughout the industrial system.
Business model innovations for sustainability are:
”innovations that create significant positive and/or significantly reduced negative impacts for the environment and/or society, through changes in the way the organization create, deliver and capture value”.
Case study approach method
Following the tradition in business model innovation research, our group is using case studies to address our research questions. More specifically, we follow an interactive and integrated approach which is appropriate to capture the complexity of business model innovation where multiple players are involved and no clearly evident boundaries to their context exist.
Particularly useful is the multiple-case study approach that has exploratory and explanatory applications and is based on on-going comparison between relevant enterprises.
We have extensive experiences of collaboration with enterprises in our research, empirical “clinical” implementation as well as education and training activities stemming of our research.