- Elgar original reference
Edited by Giovanni Battista Dagnino
1 Ramon Casadesus-Masanell and Joan E. Ricart Business model innovation is becoming one of the main forces driving strategic renewal efforts of businesses around the world. IBM’s 2006 Global CEO Study, for example, shows that top management in a broad range of industries is actively seeking guidance on how to innovate in their business models to improve their ability to both create and capture value. While the expression ‘business model’ has been part of the business jargon for a long time, there is no widely accepted definition of what it means. Its origins can be traced back to the writings of Peter Drucker (1954), but the notion has gained prominence amongst both academics and practitioners only in the last decade. This is not to say that organizations did not have or use business models prior to this recent wave of interest, but business models of industry players were for the most part similar and, as such, the notion was not the focus of attention. Advances in information and communication technologies have driven the recent interest in business model design and business model innovation. Many of the so-called ‘e-businesses’ constitute new business models (Evans and Wurster, 1997; Varian and Shapiro, 1999). Shafer et al. (2005) present 12 recent definitions of business model and find that eight are related to e-business. Of course not all business model innovations are IT-driven; other forces such as globalization and deregulation have also resulted in new business models and fed the interest in this area. New...
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