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Business model innovation in a knowledge revolution: An evolutionary theory perspective

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  • James B. Downs
  • Vivek K. Velamuri

Abstract

For knowledge†intensive industries, a need remains to increase clarity on the dynamics through which business model innovation occurs. Progress has been limited owing to complexities in these industries and to the underlying ontology of the business model concept itself. Through a conceptual methodology, our findings expose impediments to current business model theory and propose economic evolutionary theory as a useful alternative lens through which to address these limitations. This research contributes to the literature by broadening the traditional scope of the economic evolutionary view as relevant for business model innovation research and by offering a corresponding framework for future research.

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  • James B. Downs & Vivek K. Velamuri, 2018. "Business model innovation in a knowledge revolution: An evolutionary theory perspective," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 39(5), pages 550-562, July.
    • Handle: RePEc:wly:mgtdec:v:39:y:2018:i:5:p:550-562
    DOI: 10.1002/mde.2926
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    Cited by:

    1. Oleh Chornyi, 2020. "Economic Knowledge Optimization In Ukrainian Agrarian Universities: A Knowledge Management Perspective," Oradea Journal of Business and Economics, University of Oradea, Faculty of Economics, vol. 5(1), pages 86-96, March.
    2. Schlimbach, Ricarda, 2020. "Geschäftsmodellinnovation im Kontext des Digitalen Darwinismus - ein evolutorischer Erklärungsansatz," EconStor Preprints 218746, ZBW - Leibniz Information Centre for Economics.

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