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Business model innovation: an integrated approach based on elements and functions

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Abstract

Business model innovation can be used to acquire competitive advantages. In this paper, we applied an integrative approach to study business model in terms of elements and functions. In the paper, three types of business model innovations were discussed: original innovation, induced innovation, and imitative innovation. The major contributions of this paper are: (1) improving the understanding of the business models; (2) providing a new perspective on business model innovation; and (3) proposing the paths for business model innovation. The paper also discussed how new information technology may promote business model innovation.

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Acknowledgments

This paper was partially supported by the National Science Foundation of China (NSFC) under Grant Nos. 71273113 and 71273003. This paper was also supported by MOE (Ministry of Education in China) project of Humanities and Social Sciences (Project No. 12YJC630090).

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Authors and Affiliations

  1. School of Management, Jilin University, Changchun, 130022, Jilin, China

    Yue Zhang & Shukuan Zhao

  2. Krannert Management School, Purdue University, West Lafayette, IN, 47907, USA

    Yue Zhang

  3. School of Business Administration, American University of Sharjah, Sharjah, UAE

    Xiaobo Xu

Authors
  1. Yue Zhang
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  2. Shukuan Zhao
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  3. Xiaobo Xu
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Correspondence to Shukuan Zhao.

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Zhang, Y., Zhao, S. & Xu, X. Business model innovation: an integrated approach based on elements and functions. Inf Technol Manag 17, 303–310 (2016). https://doi.org/10.1007/s10799-015-0225-5

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  • DOI: https://doi.org/10.1007/s10799-015-0225-5

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