Introducing Business Model Innovation and the Game Changers of Tomorrow

Abstract

AbstractThis chapter delves into the transformative influence of game changers on business model innovation, emphasizing the critical role of the business model as a strategic management tool for generating customer value and competitive advantage. Grounded in the seminal perspectives and contributions of key authors in the BMI field, it explores the multifaceted nature of business models as architectures of value creation, delivery, and capture. The chapter critically reviews the existing literature, highlighting the diverse interpretations and the lack of consensus on a definitive business model definition. It underscores the business model’s responsiveness to external environmental factors, technological advancements, demands for sustainability and circularity, demographic shifts, and grand challenges, illustrating its pivotal role in strategic agility and business model innovation. This discussion sets the stage for a deeper exploration in the following chapters of how the individual game changers are reshaping business models, urging businesses to adapt and innovate continuously in an ever-evolving landscape.