Doing the right things in the digital era: the role of strategic leaders in business model innovation
Keywords:Leadership, business model innovation, digitalization
Connectivity technologies —5G and 6G— drive the transformation of firms, industries, and economies by creating preconditions for the emergence of ecosystemic business models. Yet, the role of strategic leaders in whether, how, when, and to what ends firms engage in digital transformation needs further clarification for advancing strategic entrepreneurship theory, research and practice. Adopting the business model perspective, this paper aims to investigate the role of strategic leaders in bringing nontrivial changes to the business opportunity, value process and competitive advantage, as well as their architecture to capitalize on digital
transformation in the ecosystemic context. Our study shows that the process of implementing connectivity technologies follows a hysteresis curve, wherein a strategic leader needs to orchestrate sequentially one-to-one and ecosystemic relationships.
Ahokangas, P., & Myllykoski, J. (2014). The practice of creating and transforming a business model. Journal of Business Models, 2(1), 6-18.
Amit, R., & Zott, C. (2001). Value creation in e‐business. Strategic management journal, 22(6‐7), 493-520.
Amit, R., & Han, X. (2017). Value creation through novel resource configurations in a digitally enabled world. Strategic Entrepreneurship Journal, 11(3), 228-242.
Baden-Fuller, C., & Haefliger, S. (2013). Business models and technological innovation. Long range planning, 46(6), 419-426.
Bowman, E. H., & Helfat, C. E. (2001). Does corporate strategy matter? Strategic Management Journal, 22(1), 1-23.
Bucherer, E., Eisert, U., & Gassmann, O. (2012). Towards systematic business model innovation: Lessons from product innovation management. Creativity & Innovation Management, 21, 183-198.
Demil, B., & Lecocq, X. (2010). Business model evolution: in search of dynamic consistency. Long range planning, 43(2-3), 227-246.
Doz, Y. L., & Kosonen, M. (2010). Embedding strategic agility: A leadership agenda for accelerating business model renewal. Long range planning, 43(2-3), 370-382.
Ehret, M., & Wirtz, J. (2017). Unlocking value from machines: business models and the industrial internet of things. Journal of Marketing Management, 33(1-2), 111-130.
Ehret, M., & Wirtz, J. (2017). Unlocking value from machines: Business models and the industrial internet of things. Journal of Marketing Management, 33, 111-130.
Eloranta, V., & Turunen, T. (2016). Platforms in service-driven manufacturing: Leveraging complexity by connecting, sharing, and integrating. Industrial Marketing Management, 55, 178-186.
Foss, N. J., & Saebi, T. (2017). Fifteen years of research on business model innovation: How far have we come, and where should we go? Journal of Management, 43(1), 200-227.
George, G., & Bock, A. J. (2011). The business model in practice and its implications for entrepreneurship research. Entrepreneurship theory and practice, 35(1), 83-111.
Gorissen, L., Vrancken, K., & Manshoven, S. (2016). Transition thinking and business model innovation—Towards a transformative business model and new role for the reuse centers of Limburg, Belgium. Sustainability 2016, 8, 112.
Günzel, F., & Holm, A. B. (2013). One size does not fit all: Understanding the front-end and backend of business model innovation. International Journal of Innovation Management, 17(1): 1340002.
Hambrick, D. C., & Mason, P. A. (1984). Upper echelons: The organization as a reflection of its top managers. Academy of Management Review, 9(2), 193-206.
Hasselblatt, M., Huikkola, T., Kohtamäki, M., & Nickell, D. (2018). Modeling manufacturer’s capabilities for the Internet of Things. Journal of Business and Industrial Marketing, 33, (6), 822-836.
Helfat, C. E., & Peteraf, M. A. (2015). Managerial cognitive capabilities and the microfoundations of dynamic capabilities. Strategic Management Journal, 36(6), 831-850.
Iivari, M. M., Ahokangas, P., Komi, M., Tihinen, M., & Valtanen, K. (2016). Toward ecosystemic business models in the context of industrial internet. Journal of Business Models, 4(2).
Kohtamäki, M., & Helo, P. (2015). Industrial services–the solution provider’s stairway to heaven or highway to hell? Benchmarking: An International Journal, 22, 170-185.
Lanzolla, G., & Markides, C. (2020). A business model view of strategy. Journal of Management Studies, doi: 10.1111/joms.12580
Lenka, S., Parida, V., & Wincent, J. (2017). Digitalization capabilities as enablers of value co‐creation in servitizing firms. Psychology & marketing, 34(1), 92-100.
Li, F. (2020). The digital transformation of business models in the creative industries: A holistic framework and emerging trends. Technovation, 92, 102012.
Nambisan, S., Wright, M., & Feldman, M. (2019). The digital transformation of innovation and entrepreneurship: Progress, challenges and key themes. Research Policy, 48(8), 103773.
Parida, V., Sjödin, D., & Reim, W. (2019). Reviewing literature on digitalization, business model innovation, and sustainable industry: Past achievements and future promises. Sustainability, 11, 1-18.
Pedersen, E. R. G., Gwozdz, W., & Hvass, K. K. (2018). Exploring the relationship between business model innovation, corporate sustainability, and organisational values within the fashion industry. Journal of Business Ethics, 149(2), 267-284.
Schneider, S., & Spieth, P. (2013). Business model innovation: Towards an integrated future research agenda. International Journal of Innovation Management, 17(01), 1340001.
Spieth, P., Schneckenberg, D., & Ricart, J. E. (2014). Business model innovation–state of the art and future challenges for the field. R&D Management, 44(3), 237-247.
Teece, D. J. (2010). Business models, business strategy and innovation. Long range planning, 43(2-3), 172-194.
Warner, K. S., & Wäger, M. (2019). Building dynamic capabilities for digital transformation: An ongoing process of strategic renewal. Long Range Planning, 52(3), 326-349.
Zott, C., & Amit, R. (2013). The business model: A theoretically anchored robust construct for strategic analysis. Strategic Organization, 11(4), 403-411.
Zott, C., Amit, R., & Massa, L. (2011). The business model: recent developments and future research. Journal of Management, 37(4), 1019-1042.