IDEAS home Printed from https://ideas.repec.org/a/vrs/gfkmir/v9y2017i1p18-23n3.html
   My bibliography  Save this article

Business Model Innovation: How to Create Value in a Digital World

Author

Listed:
  • Zott Christoph

    (Professor of Entrepreneurship, IESE Business School in Barcelona, University of Navarra, Spain)

  • Amit Raphael

    (Robert B. Goergen Professor of Entrepreneurial Management, Wharton School, University of Pennsylvania Philadelphia, PA, United States of America)

Abstract

It is not only products or services that are becoming obsolete but also organizational processes and systems because they simply no longer create enough value. To seamlessly account for the digitalization of the business and the customer side, new ideas are mandatory, and the whole business model is increasingly becoming the new source of innovation. A new, smartly designed business model can increase the total value created for all stakeholders, including customers, partners and suppliers. The three design elements that characterize a company’s activity system are content, structure and governance. Changing one or more of these elements means changing the entire model, and if the new business model is “new to the world” and not just “new to the company” it can be considered real business model innovation. Content, structure and governance can be highly interdependent; they need to be in line with value creation and capture the goals of the company, such as its revenue model.

Suggested Citation

  • Zott Christoph & Amit Raphael, 2017. "Business Model Innovation: How to Create Value in a Digital World," NIM Marketing Intelligence Review, Sciendo, vol. 9(1), pages 18-23, May.
    • Handle: RePEc:vrs:gfkmir:v:9:y:2017:i:1:p:18-23:n:3
    DOI: 10.1515/gfkmir-2017-0003
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/gfkmir-2017-0003
    Download Restriction: no
    File URL: https://libkey.io/10.1515/gfkmir-2017-0003?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:gfkmir:v:9:y:2017:i:1:p:18-23:n:3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.