Special Issue "Business Model Innovation"

A special issue of Journal of Open Innovation: Technology, Market, and Complexity (ISSN 2199-8531).

Deadline for manuscript submissions: 31 December 2020.

Special Issue Editor

Prof. Dr. Taewon Suh
Website
Guest Editor
Texas State University, San Marcos, TX 78666, USA
Interests: global entrepreneurship; business model innovation; design thinking; trust; entrepreneurial marketing

Special Issue Information

Dear Colleagues,

The capability to innovate business models has become an essential part in the success of many firms. Business model innovation, which links business aspirations with business platforms through which success can be realized, has now become one of the most vibrant fields in the area of business research. 

Business model innovation is fast-becoming a mainstream concept because the construct of a business model is useful in both the research and practice of strategy, technology management, and e-commerce. This Special Issue aims to explore the breadth and depth of business model innovation and extend its conceptual territory. Various perspectives in both research and practice are valued for this purpose.

Researchers, academicians, practitioners, entrepreneurs, policymakers and other stakeholders are welcome to submit their original manuscripts to this Special Issue on “Business Model Innovation (BMI)” in the Journal of Open Innovation: Technology, Market, and Complexity.

Prof. Dr. Taewon Suh
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All papers will be peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Open Innovation: Technology, Market, and Complexity is an international peer-reviewed open access quarterly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 800 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • Theorizing the cognitive process of BMI 
  • Performance management of BMI
  • Development of tools for BMI
  • BMI practices in different countries
  • Emerging technologies and BMI
  • Strategic development of BMI
  • BMI in hybrid organizations

Published Papers (7 papers)

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Research

Open AccessArticle
The Impact of Social Servicescape Factors on Customers’ Satisfaction and Repurchase Intentions in Mid-Range Restaurants in Baltic States
J. Open Innov. Technol. Mark. Complex. 2020, 6(3), 77; https://doi.org/10.3390/joitmc6030077 - 07 Sep 2020
Abstract
The present paper studies the importance of social servicescape factors to customer satisfaction in middle-priced restaurant services. This paper fills the existing literature gap on the importance of social servicescape factors onto customers’ satisfaction in middle-priced services. A survey of 514 respondents from [...] Read more.
The present paper studies the importance of social servicescape factors to customer satisfaction in middle-priced restaurant services. This paper fills the existing literature gap on the importance of social servicescape factors onto customers’ satisfaction in middle-priced services. A survey of 514 respondents from three capitals of the Baltic States was conducted for the purpose of the present study. Descriptive statistics together with an independent samples t-test and partial least squares path analysis were employed for data processing. The results obtained confirmed the hypothesis about the importance of social servicescape attributes to customer satisfaction. The study also highlighted the difference in gender attitudes towards intangible aspects of service delivery. The research confirmed the existence of a relationship between customer satisfaction and repurchase intentions, although to a lesser extent than could have been anticipated from the literature review. The findings of the study covered by the present paper allow us to position middle-priced restaurants closer to luxury ones compared to casual restaurants Full article
(This article belongs to the Special Issue Business Model Innovation)
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Open AccessArticle
How to Innovate the Service Design of Leisure Farms: The Innovation of Sustainable Business Models
J. Open Innov. Technol. Mark. Complex. 2020, 6(3), 45; https://doi.org/10.3390/joitmc6030045 - 29 Jun 2020
Abstract
There is extensive academic literature about service satisfaction, business performance analysis, and management research of leisure farms, but there are still many problems and room for development on how to create customer journey maps for diversified leisure farms and also on service innovation [...] Read more.
There is extensive academic literature about service satisfaction, business performance analysis, and management research of leisure farms, but there are still many problems and room for development on how to create customer journey maps for diversified leisure farms and also on service innovation opportunities. Leisure agricultural tourism is now facing diversified business challenges, and thoughts on service design as well as methods and tools contribute to the innovation of sustainable business models. By exploring customers’ touchpoints on leisure farms and their core motivations to visit the farm, this paper proposes a method to integrate the application of target tools of touchpoints into the customer journey map and shows the service design framework of leisure farms’ management and organization. Finally, this paper puts forward five key requirements on touchpoints in leisure farms’ service innovation, so as to achieve reasonable resource deployment of marketing mix and promote the sustainable development of leisure farms. Full article
(This article belongs to the Special Issue Business Model Innovation)
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Open AccessArticle
Artificial Intelligence Modelling Framework for Financial Automated Advising in the Copper Market
J. Open Innov. Technol. Mark. Complex. 2019, 5(4), 81; https://doi.org/10.3390/joitmc5040081 - 09 Oct 2019
Cited by 2
Abstract
Financial innovation by means of Fintech firms is one of the more disruptive business model innovations from the latest years. Specifically, in the financial advisor sector, worldwide assets under management of artificial intelligence (AI)-based investment firms, or robo-advisors, currently amount to US$975.5 B. [...] Read more.
Financial innovation by means of Fintech firms is one of the more disruptive business model innovations from the latest years. Specifically, in the financial advisor sector, worldwide assets under management of artificial intelligence (AI)-based investment firms, or robo-advisors, currently amount to US$975.5 B. Since 2008, robo-advisors have evolved from passive advising to active data-driven investment management, requiring AI models capable of predicting financial asset prices on time to switch positions. In this research, an artificial neural network modelling framework is specifically designed to be used as an active data-driven robo-advisor due to its ability to forecast with today’s copper prices five days ahead of changes in prices using input data that can be fed automatically in the model. The model, tested using data of the two periods with a higher volatility of the returns of the recent history of copper prices (May 2006 to September 2008 and September 2008 to September 2010) showed that the method is capable of predicting in-sample and out-of-sample prices and consequently changes in prices with high levels of accuracy. Additionally, with a 24-day window of out-of-sample data, a trading simulation exercise was performed, consisting of staying long if the model predicts a rise in price or switching to a short position if the model predicts a decrease in price, and comparing the results with the passive strategies, buy and hold or sell and hold. The results obtained seem promising in terms of both statistical and trading metrics. Our contribution is twofold: 1) we propose a set of input variables based on financial theory that can be collected and fed automatically by the algorithm. 2) We generate predictions five days in advance that can be used to reposition the portfolio in active investment strategies. Full article
(This article belongs to the Special Issue Business Model Innovation)
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Open AccessArticle
Problem-Solving Design-Platform Model Based on the Methodological Distinctiveness of Service Design
J. Open Innov. Technol. Mark. Complex. 2019, 5(4), 78; https://doi.org/10.3390/joitmc5040078 - 05 Oct 2019
Cited by 3
Abstract
This study explores the differentiated properties of service design in the context of the final value pursued by this methodology, avoiding the interpretation of pending issues to which service design is applied. First, the following were identified as the core properties of service [...] Read more.
This study explores the differentiated properties of service design in the context of the final value pursued by this methodology, avoiding the interpretation of pending issues to which service design is applied. First, the following were identified as the core properties of service design, differentiated from other design methodologies: “Design Thinking”, a creative problem-solving process; “User Experience Value”, the pursued goal; “Participatory Design”, a practical research methodology; and “Interaction between Users and Providers”, the core research scope of pending issues. Second, the study proposed a six-step service design process model based on the interrelationships between these properties. The “problem recognition” step identified a decline in the quality of user experiences and forms a self-awareness of dissatisfaction. Next, the “problem understanding” step conducts multidisciplinary cooperative research on dissatisfaction. Subsequently, the “problem deduction” step determines users’ unsatisfied desires through visualization of the core pending issues, and the “problem definition” step performs creative conception activities with problem-solving approaches for the unsatisfied desires. Further, the “problem-solving” step develops service design models, and finally, the “problem-solving strategy check” step confirms the utility of the models in a real-world application. Full article
(This article belongs to the Special Issue Business Model Innovation)
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Open AccessArticle
Emerging Technology and Business Model Innovation: The Case of Artificial Intelligence
J. Open Innov. Technol. Mark. Complex. 2019, 5(3), 44; https://doi.org/10.3390/joitmc5030044 - 22 Jul 2019
Cited by 11
Abstract
Artificial intelligence (AI) has been altering industries as evidenced by Airbnb, Uber and other companies that have embraced its use to implement innovative new business models. Yet we may not fully understand how this emerging and rapidly advancing technology influences business model innovation. [...] Read more.
Artificial intelligence (AI) has been altering industries as evidenced by Airbnb, Uber and other companies that have embraced its use to implement innovative new business models. Yet we may not fully understand how this emerging and rapidly advancing technology influences business model innovation. While many companies are being made vulnerable to new competitors equipped with AI technology, this study attempts to focus on the proactive side of the use of AI technology to drive business model innovation. Describing AI technology as the catalyst of business model innovation, this study sheds light on contingent factors shaping business model innovation initiated by the emerging technology. This study first provides a brief overview of AI, current issues being tackled in developing AI and explains how it transforms business models. Our case study of two companies that innovated their business models using AI shows its potential impact. We also discuss how executives can create an innovative AI-based culture, which rephrases the process of AI-based business model innovation. Companies that successfully capitalize on AI can create disruptive innovation through their new business models and processes, enabling them to potentially transform the global competitive landscape. Full article
(This article belongs to the Special Issue Business Model Innovation)
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Open AccessArticle
The Role of Dynamic Capabilities as Drivers of Business Model Innovation in Mergers and Acquisitions of Technology-Advanced Firms
J. Open Innov. Technol. Mark. Complex. 2019, 5(1), 12; https://doi.org/10.3390/joitmc5010012 - 04 Mar 2019
Cited by 8
Abstract
Despite the widespread agreement on the importance of dynamic capabilities to the success of mergers and acquisitions, little is known about how these capabilities may contribute to the business model’s innovation of an acquirer. The purpose of the paper is to clarify the [...] Read more.
Despite the widespread agreement on the importance of dynamic capabilities to the success of mergers and acquisitions, little is known about how these capabilities may contribute to the business model’s innovation of an acquirer. The purpose of the paper is to clarify the role of dynamic capabilities in business model innovation of acquirer’s company in mergers and acquisitions of technology-advanced firms. Empirically, the author examined the role of dynamic capabilities in the transformation of operationalized components of the business model of the two acquirers (Samsung and Microsoft) by means of the acquisition of technology-advanced firms (Harman and LinkedIn) in 2016. Drawing on extensive qualitative data, the author developed a practice-driven model as a practical guide for scholars who have been studying dynamic capabilities and business models, as well as for those who are new to the field. The resulting model advances the discourse on dynamic capabilities. The presented conceptual model encourages practitioners to grasp an exact relationship between the micro-foundations of each perspective. Overall, the paper deepens the conversation at the nexus of dynamic capabilities and business model innovation in pursuing a new customer value proposition in the merger and acquisition processes and thereby exploiting a competitive advantage. Full article
(This article belongs to the Special Issue Business Model Innovation)
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Open AccessArticle
A Model and Empirical Study on the User’s Continuance Intention in Online China Brand Communities Based on Customer-Perceived Benefits
J. Open Innov. Technol. Mark. Complex. 2018, 4(4), 46; https://doi.org/10.3390/joitmc4040046 - 27 Sep 2018
Cited by 7
Abstract
Many Chinese companies have recently joined a trend to build their own online brand community, which is good for their corporate strategy and even for innovation, but with a high failure rate due to the low continuance intentions of users. In addition, related [...] Read more.
Many Chinese companies have recently joined a trend to build their own online brand community, which is good for their corporate strategy and even for innovation, but with a high failure rate due to the low continuance intentions of users. In addition, related research is rare, especially for studies on the relationships between customer-perceived benefits, satisfaction, and the continuance intention of users. The objective of this study was to examine the existing relationships between three constructs: customer-perceived benefits, satisfaction, and user’s continuance intention, in the context of Chinese online brand communities from the perspective of the process. An online questionnaire surveyed 153 online brand community users to understand the relationship between customer-perceived benefits, customer satisfaction, and user’s continuance intention. The data analysis shows that customer-perceived benefits as an antecedent variable have an important influence on the satisfaction and continuance intention of users. Customer satisfaction as a mediator variable also makes a significant positive impact on the user’s continuance intention. At a practical level, the result provides further insight into online brand community operation strategies, and provides managers with new ideas and suggestions for business innovation models. Full article
(This article belongs to the Special Issue Business Model Innovation)
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