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Strategic Approach To The Business Model Innovation

Author

Listed:
  • Bojan Moric Milovanovic

    (Libertas International University)

  • Stjepan Srhoj

    (University of Dubrovnik)

  • Tomislav Kristo

    (Streberaj poduke, Zagreb)

Abstract

Business model is a frequently used concept in business practice, where it is commonly used to communicate firm’s business logic to the stakeholders. Business model innovation is considered an important source of competitive advantage; however it is not sufficiently explained in the academia and among business professionals. The main goal of this paper is to identify the key aspects of the business model innovation and to elaborate business model innovation concept through the static and dynamic perspectives. The static dimension provided an overview of various business model types which represent opportunities for business model innovation, as well as the overview of the main sources for business model innovation. The dynamic dimension elaborates on the process and the development phases of the business model inovation. Contribution of this paper can be seen in the structured literature review aimed at managers and scholars interested in business model innovation.

Suggested Citation

  • Bojan Moric Milovanovic & Stjepan Srhoj & Tomislav Kristo, 2017. "Strategic Approach To The Business Model Innovation," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 26(2), pages 847-881, december.
    • Handle: RePEc:avo:emipdu:v:26:y:2017:i:2:p:847-881
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    More about this item

    Keywords

    business model; types of business models; business model innovation;
    All these keywords.

    JEL classification:

    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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