The Process and Mechanism of the Co-evolution of Secondary Business Model Innovation and Institutional Environment——A Longitudinal Case Study Based on Alipay's Development Process

Abstract

Abstract: Chinese enterprises have attained big success in secondary business model innovation in a way not only adapting to but affecting the local institutional environment. This paper selects Alipay as a typical case to analyze its process from imitation to innovation, finding out how it adapted and gradually influenced the cognitive, normative, and regulative environment. We find that the secondary business model innovation goes through adaptive innovation stage and independent innovation stage, which involves three different innovative approaches namely adaptive, exploratory and interactive business model innovation. These innovation approaches connect different stages and institutional environment. Based on this, we put forward the linkage mechanism of driving, triggering and causing between business model innovation and institutional environment. The research findings can enrich the theory of secondary business model innovation, and provide managers with ideas regarding how to perform business model innovations in the volatile institutional environment.

Key words: secondary business-model innovation, business model innovation, institutional environment, co-evolution

Qiao Han, Jia Shuzhe, Zhang Si, Lu Tao. The Process and Mechanism of the Co-evolution of Secondary Business Model Innovation and Institutional Environment——A Longitudinal Case Study Based on Alipay's Development Process[J]. Management Review, 2020, 32(8): 63-75.

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