Innovation Business Model Based on New Technologies and Company Relationships

Abstract

AbstractFierce market rivalry between companies has forced a need to search for new ways of competing. One such way is to innovate the company’s business model innovation with the use of new technologies. In order to do so, companies often take advantage of relationships with different market actors. Although the existing literature provides some general insight on this matter, there is still a significant research gap concerning the use of specific market actors by companies characterized by BMI based on new technologies. The aim of the paper is to assess the role of relationships developed by companies characterized by BMI based on new technologies with different types of entities. In order to achieve the aim of the paper, it was decided to perform both qualitative and quantitative research. For the qualitative research, a focus study with 12 participants was performed, and for the quantitative study, a computer-assisted telephone interview (CATI) with representatives from 483 companies was carried out. The data collection method included not only primary sources (interviews with managers) but secondary sources (e.g., company materials) as well. The main conclusion drawn from the presented research is that it is beneficial (in terms of technology as well as performance indicators — profits, sales, market share, and ROI) for companies characterized with BMI based on new technologies to develop relationships with various types of entities. These various types should not only include suppliers or buyers, but competitors, the company’s internal and external units, universities and research centers, financing agencies, and government or local government administration as well. The results presented in the paper add significant value to the existing knowledge. Not only is the paper one of a few which touch on the matter of relationships developed by companies characterized by BMI based on new technologies, it also provides new information. It adds a new block to the theories of open innovation and resource-based view.