Business model innovation approaches: A systematic literature review

Abstract

The goal of this paper is to evaluate the current academic approaches in the field of business model innovation. By conducting a systematic literature review, 31 academic approaches are identified and compared using the dimensions of business model and process model. In addition, the research concentrates on organizational mindset and to what extend it is considered in current approaches. Among other findings, the research proves that all analyzed studies vary in terms of focus, level of detail and content in the perspectives of business and process model. In particular, organizational mindset is mentioned in four out of the 31 studies as an important success factor of business model innovation, whereas only one approach is dealing with organizational mindset in its process model. This indicates that overcoming the organizational mindset as a main barrier in business model innovation is not systematically integrated in any of the selected studies. In summary, the findings of this paper highlight that the current research in the field of business model innovation is not sufficient and further research has to follow. Thus, three research gaps are identified. First, the lack of level of detail concerning business and process model. Secondly, the lack of business innovation approaches for specific industries. Finally, the lack of systematic integration of organizational mindset in business model innovation approaches.