Technology Embeddedness and Digital Business Model Innovation: A Case Study of CredEx Fintech

Abstract

Abstract: Abstract:With the rapid development of digital technology, digital business model innovation has become a sharp weapon for enterprises to strengthen their competitive force. To develop digital business models, firms take technology embeddedness as a vital strategy for internalizing digital technology. Based on a longitudinal case study of CredEx Fintech, this study explores the impact of technology embeddedness on digital business model innovation. The findings show that technology embeddedness combines technology integration and technology development. The two strategies evolve in different forms in the process of enterprise development. Moreover, the bricolage-dominated technology integration is more conducive to element-level business model innovations, while the orchestration-dominated technology integration is more conducive to architecture-level business model innovations. Besides, the exploitative technology development is more conducive to incremental business model innovations, while the exploratory technology development is more conducive to disruptive business model innovations. Finally, the digital business model of the case firm shows an advanced path of "process informatization→channel platformization→product digitization→technology productization". Meanwhile, the digital degree goes through a "parabola like" curve. This study enriches the theory of digital business model innovation and provides practical implications for technology-based enterprises to develop digital business model.

Key words: technology embeddedness, business model innovation, digital business model, fintech firms

Su Jingqin, Zhang Shuai, Ma Huanhuan, Jia Yibo. Technology Embeddedness and Digital Business Model Innovation: A Case Study of CredEx Fintech[J]. Management Review, 2021, 33(11): 121-134.

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