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The three faces of business model innovation: Challenges for established firms

Koen, P. A., Bertels, H. M. J., & Elsum, I.R. 2011. The three faces of business model innovation: Challenges for established firms. Research Technology Management, May-June 2011: 1-8.

Abstract

Business model innovation represents a significant opportunity for established firms, as demonstrated by the considerable success of Apple’s iPod/iTunes franchise. However, it also represents a challenge, as evidenced by Kodak’s failed attempt to dominate the digital photography market and Microsoft’s difficulty gaining share in the gaming market, despite both companies’ huge financial investments. We developed a business model innovation typology to better explain the complex set of factors that distinguishes three types of business model innovations and their associated challenges.

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