Research on business model innovation of SMEs in the industrial internet era: building theory from the case of PAYA

IF 1.8 Q3 MANAGEMENT
Yanmei Xu, Zhenli Bai, Ziqiang Wang, Xia Song, Yanan Zhang, Qiwen Zhang
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引用次数: 0

Abstract

Purpose

Aside from grappling with technological advancements, enterprises in the industrial internet era are embracing business model innovation to align with the evolution of the industrial internet. However, a gap persists in the existing research regarding the strategies and methods available to small and medium-sized enterprises (SMEs) for executing business model innovation. Therefore, this paper aims to explore the connotation, characteristics and logic of business model innovation for SMEs in the industrial internet era.

Design/methodology/approach

To explore the business model innovation logic of small and medium-sized enterprises in the era of industrial internet, the paper adopts a longitudinal single-case study approach, with PAYA, a medium-sized enterprise in the electromechanical industry, serving as the subject of research. It systematically analyzes PAYA’s business model innovation, centering on four key elements of the business model: value proposition, value creation, value delivery and value capture.

Findings

The study proposes two types of business model innovation, namely, “Migration” and “Expansion”, and explains the logic of business model innovation for SMEs in the industrial internet era: faced with a rapidly changing market environment, entrepreneurs put forward the value proposition through the insight of the market environment, then enterprises conduct technological innovation to support the value creation by their own unique experience and knowledge, and then improve the legitimacy of the market by expanding the influence of market acceptance of the new business model to promote the value delivery, and finally capture the economic value and ecological value.

Originality/value

The types and logic of business model innovation proposed in this paper contribute to supplementing and developing the theory of business model innovation and meanwhile have important reference value for SMEs in the industrial internet era.

工业互联网时代中小企业商业模式创新研究:从支付宝案例构建理论
目的除了应对技术进步,工业互联网时代的企业也在拥抱商业模式创新,以适应工业互联网的发展。然而,现有研究对中小企业实施商业模式创新的策略和方法仍存在空白。为探讨工业互联网时代中小企业的商业模式创新逻辑,本文以机电行业的中型企业 "栢雅 "为研究对象,采用纵向单案例研究的方法,系统分析了 "栢雅 "在工业互联网时代的商业模式创新逻辑。文章围绕商业模式的四个关键要素:价值主张、价值创造、价值传递和价值获取,系统分析了栢雅的商业模式创新。研究结果本研究提出了 "迁移 "和 "扩张 "两种商业模式创新类型,并阐释了产业互联网时代中小企业商业模式创新的逻辑:面对瞬息万变的市场环境,企业家通过对市场环境的洞察提出价值主张,然后企业进行技术创新,以自身独特的经验和知识支撑价值创造,再通过扩大新商业模式的市场接受影响力提升市场合法性,促进价值传递,最后捕获经济价值和生态价值。原创性/价值本文提出的商业模式创新的类型和逻辑有助于商业模式创新理论的补充和发展,同时对产业互联网时代的中小企业具有重要的参考价值。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
2.30
自引率
3.60%
发文量
32
期刊介绍: Nankai Business Review International (NBRI) provides insights in to the adaptation of American and European management theory in China, the differences and exchanges between Chinese and western management styles, the relationship between Chinese enterprises’ management practice and social evolution and showcases the development and evolution of management theories based on Chinese cultural characteristics. The journal provides research of interest to managers and entrepreneurs worldwide with an interest in China as well as research associations and scholars focusing on Chinese problems in business and management.
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