Incumbent Enterprises' Resource and Business Model Innovation in the Context of Technological Change: The Mediating Role of Binary Dynamic Capabilities

Abstract

Abstract:

The emergence of emerging technologies has a strong impact on the existing business model of incumbent enterprises. Thus, the incumbent enterprises that had been in the leading position have to undergo a reshuffle of the industry pattern and innovate their business models. Most of the existing researches focus on the business model innovation of new ventures, while ignoring the business model innovation challenges of incumbents. This paper aims to reveal the impact of different attributes of incumbent enterprises' resource on business model innovation in the context of technological change and explore the mediating effect of the dynamic capabilities on the relationship between incumbent enterprises' resource and business model innovation. Based on Schumpeter's innovation theory and organizational inertia theory, this paper proposes six hypotheses and validates them using empirical data from 227 incumbent companies from different industries. The findings demonstrate that:(1) In dynamic environment, the dynamic capabilities of incumbents are more significant than the original resource on business model innovation; (2) The original resource of the incumbent enterprise has a dual effect. On the one hand, the resource aggregation effect formed by the value network is conducive to improving the dynamic capability; on the other hand, the internal locking effect weakens the enterprises' dynamic ability. These findings open the black box of the mechanism of incumbent business model innovation and provide practical guidance for incumbents to innovate their business model.

Key words: business model innovation, incumbent enterprise, technological change, internal locking effect, resource aggregation effect, binary dynamic capability

Liu Guiwen, Li Kaijian, Zhang Yingzhen, Guo Pan. Incumbent Enterprises' Resource and Business Model Innovation in the Context of Technological Change: The Mediating Role of Binary Dynamic Capabilities[J]. , 2019, 31(7): 252-263.

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