Modern Business Model Innovation Methodologies: A Systematic Literature Review (2015-2020)

Abstract

This research aims to investigate modern academic methodologies in business model innovation published 2015-2020. For this analysis a systematic literature review is conducted. As a result 14 academic methodologies are acknowledged and compared according to their process models. Moreover, the research takes a special focus on organizational mindset in business model innovation and how it is reflected in modern methodologies. The study reveals that all evaluated academic methodologies are different in accordance to their focus as well as their level of detail of their described process steps. Among other findings, the topic organizational mindset is mentioned in two out of the 14 academic studies as an important element for successfully implementing a business model innovation. This implicates that overcoming the organizational mindset of established companies as a main barrier in business model innovation is not systematically concerned in any of the selected modern studies. In summary, the findings of this paper point out that the current academic business model innovation methodologies are not appropriate and supplementary exploration has to follow. Thus, two research gaps are acknowledged. First, the lack of level of detail concerning the process steps. Secondly, the lack of systematic integration of organizational mindset in the business model innovation steps.