Business Model Renewal

Abstract

Increasingly high technology firms are required to develop new products or solutions in emerging markets which are outside of their existing business operation. This may necessitate that firms realign themselves and their business model so that they are able to create value in a new and emerging market. This chapter develops a framework for business model renewal based on case study research into firms entering the emerging sector of mobile networking. The framework presented here is focused on innovation strategies and the associated enterprise realignment for managing technology and innovation. The theoretical basis for this work is from a synthesis of literature drawn from the fields of strategic management, entrepreneurship and innovation management. This framework recognises the importance of the legacy basis/expertise of firms both in terms of resources and market credibility.