Business Model Renewal: Process, Barriers and Drivers

Sergejs Groskovs, John P. Ulhøi, Peter Kesting

Research output: Contribution to conferencePaperResearchpeer-review

Abstract

We survey existing literature in the fields of business development, turnaround, strategic renewal, corporate entrepreneurship, business model innovation and organizational change, and synthesize a business model renewal process at established firms, identify key enablers and brakes, and discuss future empirical interventions. We find that business model renewal involves a consideration of capabilities to understand contingencies, access to entrepreneurially minded people, managerial competence, funding, and entrepreneurial activity creation and termination process. Moreover, attention should be directed towards the firm’s history, rationale for change, implementation and overall speed of the renewal process itself, and especially employees. The literature up till now has been surprisingly silent about the speed of business model renewal in particular. The proposed synthesis provides a valuable foundation for future empirical studies on how established firms can manage and accelerate the process of business model renewal in response to increasing environmental dynamics. Key scientific and practical implications are sketched out.
Original languageEnglish
Publication date2013
Publication statusPublished - 2013
Externally publishedYes
EventThe Academy of Management Annual Meeting 2013: Capitalism in Question - Lake Bueno Vista (Orlando), FL, United States
Duration: 9 Aug 201313 Aug 2013
Conference number: 73
http://aom.org/annualmeeting/

Conference

ConferenceThe Academy of Management Annual Meeting 2013
Number73
CountryUnited States
CityLake Bueno Vista (Orlando), FL
Period09/08/201313/08/2013
Internet address

Keywords

  • Business model innovation
  • Organizational change
  • Strategic renewal

Cite this