• Journal of Digital Convergence
• /
• v.11 no.4
• /
• pp.153-164
• /
• 2013

Business model innovation creates differentiated value to customers by transforming various elements of doing business. Rather than focusing singularly on either the external or internal environment, the business model innovation aims to identify the optimal combination of internal resources, competence, and the external factors, such as customer's needs and new opportunity. However, due to lack of clear definition of business model innovation, and inability to generate company's core business model, business model innovation has been difficult for companies to lead next growth. This paper reviews existing definitions of business model innovation and explore existing types of business model innovation and timing of business model innovation through two case studies. Concept of business model innovation which we identify, is composed of value proposition, value creation through value chains and networks, and profit model innovation. Finally, we demonstrates that already successful businesses can also create new values through business model innovation and adaptive advantage, even in a rapidly changing market environment.

• Journal of Information Technology Services
• /
• v.13 no.1
• /
• pp.253-267
• /
• 2014

This study explores to identify the characteristics of the business model by comparing and analyzing the value creation between two cases, and to be successful in business model innovation. In order for the pursuit of purposes, domestic and international firm' business model cases are analyzed. Regarding the business model innovation, huge differences are found between two cases. First, a clear customer value proposal is important. Netflix is constantly monitoring the customer's needs and satisfactions to improve value proposition, while Joycube, domestic firm does not adjust to meet the change of the customer's behaviors. Second, the business model innovation should be taking into account the customer's behaviors in the constant changing market environments. For the growth, firms should consider strategic monitoring the market environments, and find a novelty of the markets, and to create the jump through business model innovation.

• Asian Journal of Innovation and Policy
• /
• v.5 no.1
• /
• pp.1-18
• /
• 2016

Catch-up is a well-known and familiar terminology for innovation scholars in developing countries such as Taiwan, Korea and China. The strategy, however, is too difficult to perform in each industry. This study looks into a catch-up strategy that Apple and Xiaomi used and examines the results on the creative imitation of business model in the smartphone industry. It is quite surprising that even Apple is based on catch-up strategy. They wanted to catch-up Nokia. Our case study shows that these two companies quickly caught up with the leaders, and the common feature of their strategy is characterized as creative imitation of business model. Creative imitation of business model is different from creative imitation of innovation. Furthermore, this research confirms that the creative imitation of business model leads to aggressive creative innovation.

• International Journal of Advanced Culture Technology
• /
• v.10 no.2
• /
• pp.116-121
• /
• 2022

Digital technology has now pervaded and become an inseparable part of our daily life. The art museum sector is evolving into a business model that adapts to the new digital format due to the requirement for survival and development. This study examines the development state of China's art museum industry and investigates the current business model innovation trend in the art museum industry from three perspectives: reorganization and development of the art museum industry's business model theory; reconstruction of the art museum industry's display and marketing logic; and innovation of the art museum industry's operation mechanism, based on a systematic assessment of domestic and international research. This research can provide reference value for digital technology to drive the innovation of business model in art museum industry. Moreover, the study has important reference significance for the development strategy of art museum industry.

• Journal of Korean Society for Quality Management
• /
• v.42 no.3
• /
• pp.477-496
• /
• 2014

Purpose: This paper has examined the impact of open innovation business model in technology commercialization with the data from 30 companies of manufacturing firms in South Korea. Methods: The findings provide support for distinguishing five hypotheses relating to development time, IP management, sales, firm size and R&D intensity. To test the hypotheses, data were collected using via e-mail and fax. Small and medium-sized (less than 300 employees) and large industrial firms were chosen for this study. Results: The result shows that openness in its business model is positively associated with successful technology commercialization. Conclusion: The major findings and the implications are: First, as the business model gets more open, development period of technology will be more favorable which gets benefit from rising costs of innovation. Second, as the business model gets more open, large portion of sales are created from new products. Thus, the problem of shorter product life in the market which affects large portion of market revenue can be solved through an open business model. Third, in general, R&D intensity, firm size and the level of IP management affect determination of business model types. The findings also suggest that companies need to increasingly address their external technology exploitation process instead of focusing on their internal innovation processes.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.18 no.1
• /
• pp.237-251
• /
• 2023

This study tried to understand the effect of internal resources, capabilities, and business model innovation of venture enterprises on industrial property performance, as based on previous studies that securing industrial property rights has a positive effect on the technology commercialization of venture companies. Venture company capabilities were classified into intrinsic elements of a company (company's research resources) and creative elements (commercialization capabilities) that implement them, and they were intended to show that they could lead to a company's potential competitiveness through innovation in business models. In order to verify this research purpose, an empirical analysis was conducted on 1,733 corporate companies among venture confirmation companies subject to the 2019 venture company precision survey. It was confirmed that the systematic research organization and commercialization capabilities of venture companies were significant (+) in industrial property performance. However, in the final research model that applied both the rules of the business model's innovation variable, commercialization capability and business model innovation were significant (-), and research organization × business model innovation showed significant results (+). This means that venture companies' excellent resources and capabilities can have a positive impact on industrial property performance individually, but when applying the level of innovation in the actual business model, they must interact with the business model. The results of this study are meaningful in that it is necessary to pursue business model innovation that secures clear differentiators compared to competitors as well as strengthening the company's internal resources and capabilities to secure industrial assets and innovation growth.

• Journal of the Korea Institute of Information and Communication Engineering
• /
• v.23 no.2
• /
• pp.139-148
• /
• 2019

The paper proposes an analytical framework for the impact of technical change on business model innovation. Based upon the examination of the relationship between the mission of business and technology, it introduces classification of technology-based business models such as problem-solving model, production model and network model, respectively employing intensive technology, interlinked technology and mediating technology as a key technology. The discussion of various cases of business model innovation shows that the impact of digital technology is first translated into the value generation in terms of efficiency or effectiveness. These new values then enable a new business model which is based on a different key technology through business model shift, expansion, unbundling, or platform. Quite often those business model changes involves system-wide innovation. The framework for the analysis of the impact of technical change on business model innovation is presented with directions for future research.

• Journal of Information Technology Services
• /
• v.11 no.3
• /
• pp.287-304
• /
• 2012

Cloud computing, which means a new way of deploying information technology(IT) in organizations as a service and charging per use, has a deep impact on organizations' IT accessibility, agility and efficiency of its usage. More than that, the emergence of cloud computing surpasses a mere technological innovation, making business model innovation possible. We call this innovation realized by could computing a cloud business model. This study develops a comprehensive framework of business model, first, and then defines and analyzes the cloud business model through this framework. This study also examines the case of M-Pesa mobile payment as a cloud business model in which a new value creation and profit realization schemes have been realized and industry value network has changed. Finally, this study discusses the business implications from this new business model.

• Asia-Pacific Journal of Business
• /
• v.15 no.1
• /
• pp.179-192
• /
• 2024

Purpose - The purpose of this study is to examine the effect of entrepreneurial experience, business model innovation and financing on new venture performance. Design/methodology/approach - This study analyzes survey data on new ventures in Korea and investigated research hypothesis by multiple regression analysis. Findings - Founders' prior startup experience have different impacts on performance depending on whether they had a successful or failed startup. Successful experience has a positive impact on early performance, while failure experience has a negative impact. Business model innovation shows a positive and significant relationship with early performance. External financing has different effects depending on the type of funding source and performance variables. VC funding is positively related to employment creation, while government R&D funding is negatively related to sales volume. Research implications or Originality - This study confirms that the impact of entrepreneurial experience on early performance varies depending on the characteristics of successful and unsuccessful entrepreneurs. It also empirically confirms that business model innovation has a significant impact on early performance. We empirically examine the relationship between various external financing sources of venture firms and early performance. Since the effects of entrepreneurial experience, business model innovation, and external financing on early stage performance may be different, entrepreneurs should consider these relationships when pursuing early stage business opportunities.

• East Asian Journal of Business Economics (EAJBE)
• /
• v.10 no.4
• /
• pp.39-45
• /
• 2022

Purpose - This short paper reviews the debate dealing with the relationship between strategy and traditional strategy approach on the one hand, and business models and new business model approach on the other hand and tries to offer useful direction to be more helpful to theoretical discussions. Research design, data, and methodology - This paper makes a theoretical analysis to explain the confusion surrounding the debate, reviewing mainly literature survey papers and finds theoretical conjecture and its limitations in order to present useful direction to the future theoretical work. Result - In order to comprise its diversity, business model studies should consider the characteristics of each firm, sector, and market. Adding further elements which are related to each sector or market, theoretical studies can capture the diverse phenomena related to business model and business model innovation. Conclusion - The traditional strategy perspective can be utilized to the Business model phenomenon in the case of incumbent firms and non-digital sector and existing markets. Meanwhile the new business model perspective can be utilized to business model phenomena in case of start-ups and digital sector and emerging markets. Reconciling two perspectives, the studies dealing with the business model should focus on the characteristics of firms, markets, and knowledge from the perspective of business model innovation.