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Theorising business model innovation: An integrated literature review

Author

Listed:
  • Mark Loon

    (Research and Graduate Affairs, Bath Spa University, Bath, UK)

  • Xiaohong Iris Quan

    (Lucas College and Graduate School of Business, San Jose State University, San José, CA, USA)

Abstract

The aim of this article is to theorise the business model innovation (BMI) phenomenon as we explore why and how BMI occurs, specifically to answer the question, What are the mechanisms involved? We evaluate extant research by adapting the context-intervention-mechanism-output framework, and adopting a mechanism-based theory building approach for synthesising our findings. This study makes three contributions: first, we enrich epistemology by adopting a process view as we show that BMI is a series of interdependent mechanisms. Second, we identify six mechanisms unique to the phenomenon. Third, we offer a prescient outlook of BMI change as a metatheory. JEL Classifications: M10, O30, O31, O39

Suggested Citation

  • Mark Loon & Xiaohong Iris Quan, 2021. "Theorising business model innovation: An integrated literature review," Australian Journal of Management, Australian School of Business, vol. 46(3), pages 548-577, August.
    • Handle: RePEc:sae:ausman:v:46:y:2021:i:3:p:548-577
    DOI: 10.1177/0312896220976751
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    More about this item

    Keywords

    Business model; innovation; mechanism-based theorising; metatheory;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O39 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Other

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