Business Model Innovation – State of the Art and Future Challenges for the Field

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Somehow, the authors concluded these role-based appropach as an alternative view to summarize the phenomenon of business models, as a reason to get a more concise grasp on subsequent processes of business model innovation. However, they note that they are aware that this topic is pretty new, and it may appear many new ideas and comments on this topic in the future, as it appeared until 2014, when they published the article. In this way, they do not assume that the topic can be closed now, mentioning that the idea is still “premature” and it may have to be discussed in the future too. They used mainly the articles published to the 2013 Conference of the European Academy of Management (Instanbul, Turkey), the 2013 R&D Management Conference (Manchester, United Kingdom) and the 2013 International Society for Professional Innovation Management Conference (Helsinki, Finland). In all of the conferences and publication activities, they presented the business model innovation as a topic managed to be represented by 3 main keys, which construct a triangle: strategy, innovation and entrepreneurship. Their contribution at this subject , as presented previously, is made by following three directions:

- Explaining the business

- Running the business

- Developing the business

Conclusion

In conclusion, the research avenues presented by the authors in this article are suggestive and definetely not complete, as well as they mention it in the concluding part of the article. The management and succesful innovation of business model is consolidating as one fundamental source for competitive advantage in the 21st century. The topic is relevant, the potential of the idea is great (as said by the authors too) and also the research field deserves further research and development.