Business model innovation processes in large corporations: insights from BASF

摘要

Companies currently are under constant pressure to generate, choose and run multiple business models simultaneously to master diversification and extend into new markets (Sabatier et al., 2010; Winterhalter et al., 2016). Business model innovation (BMI), which defines the new logic that creates and captures value, is characterized as a new form of innovation distinct from, but often connected to, product and process innovation (Massa and Tucci, 2014), BMI is linked to positive outcomes such as competitive advantage (Amit and Zott, 2012; Mitchell and Coles, 2003) and disruptive innovation (Markides and Sosa, 2013) and also seen as a key ingredient in the successful commercialization of new technology (Baden-Fuller and Haefliger, 2013; Chesbrough and Rosenbloom, 2002).