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What Drives Business Model Adaptation? The Impact of Opportunities, Threats and Strategic Orientation
Open accessAbstract
Business models change as managers not only innovate business models, but also engage in more mundane adaptation in response to external changes, such as changes in the level or composition of demand. However, little is known about what causes such business model adaptation. We employ threat-rigidity as well as prospect theory to examine business model adaptation in response to external threats and opportunities. Additionally, drawing on the behavioural theory of the firm, we argue that the past strategic orientation of a firm creates path dependencies that influence the propensity of the firm to adapt its business model. We test our hypotheses on a sample of 1196 Norwegian companies, and find that firms are more likely to adapt their business model under conditions of perceived threats than opportunities, and that strategic orientation geared towards market development is more conducive to business model adaptation than an orientation geared towards defending an existing market position.
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Müller, J. M., Buliga, O., & Voigt, K.-I. (2018) · Technological Forecasting and Social Change · doi:10.1016/j.techfore.2017.12.019 · Cited by 1,262
Agile Business Model Innovation in Digital Entrepreneurship: Lean Startup Approaches
Ghezzi, A., & Cavallo, A. (2020) · Journal of Business Research · doi:10.1016/j.jbusres.2018.06.013 · Cited by 722
Growth paths for overcoming the digitalization paradox
Gebauer, H., Fleisch, E., Lamprecht, C., & Wortmann, F. (2020) · Business Horizons · doi:10.1016/j.bushor.2020.01.005 · Cited by 380
Bidmon, C. M., & Knab, S. F. (2018) · Journal of Cleaner Production · doi:10.1016/j.jclepro.2017.12.198 · Cited by 260
The spatial implications of rural business digitalization: case studies from Wales
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Metadata
- Authors
- Saebi, T., Lien, L., & Foss, N. J.
- Venue
- Long Range Planning
- Publisher
- Elsevier BV
- Published
- 2017-10
- Volume
- 50
- Issue
- 5
- Pages
- 567-581
- ISSN
- 0024-6301 (ISSN-L)
- OpenAlex
- W2474022004
- Cited by
- 524
- References
- 8
- FWCI
- 58.44
- Type
- journal article
- Language
- en
- Open access
- hybrid
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
