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Business model innovation strategy for sustainable value creation in corporation

기업의 지속적인 가치창출을 위한 비즈니스 모델 혁신 전략에 대한 연구

  • Received : 2013.03.27
  • Accepted : 2013.04.20
  • Published : 2013.04.28

Abstract

Business model innovation creates differentiated value to customers by transforming various elements of doing business. Rather than focusing singularly on either the external or internal environment, the business model innovation aims to identify the optimal combination of internal resources, competence, and the external factors, such as customer's needs and new opportunity. However, due to lack of clear definition of business model innovation, and inability to generate company's core business model, business model innovation has been difficult for companies to lead next growth. This paper reviews existing definitions of business model innovation and explore existing types of business model innovation and timing of business model innovation through two case studies. Concept of business model innovation which we identify, is composed of value proposition, value creation through value chains and networks, and profit model innovation. Finally, we demonstrates that already successful businesses can also create new values through business model innovation and adaptive advantage, even in a rapidly changing market environment.

Keywords

Business model;Innovation;Value proposition;Value creation;Value network;Revenue model