Discontinuities of environment and disruptive innovation usually call incumbents to transform their business models in order to keep competitive advantage.Based on contracts and rules of the organization,the incumbents prefer to maintain the existing business model,especially the successful one.Then firms fall into the following dilemma: whether should firms do business model transformation? What factors influence the transformation? The existed studies cannot answer these questions.We use grounded theory to do our research.By doing so,we make the conclusion that characteristics of TMT,characteristics of core decision makers and characteristics of environment can influence business model transformation.
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