Business Model, Business Model Innovation and Strategy

Abstract

Companies today focus on profitable and sustainable growth to gain competitive advantage in a dense competitive environment which is the result of globalization. Innovation brings differentiation which is basic necessity for maintaining success. Technological innovation aims to explain how companies can gain and sustain competitive advantage in globalizing economies which the knowledge has a significant importance by time. Many researchers would benefit from social sciences to explain and foresee the effects of technological innovation on the profitability of companies and companies’ capabities on their performances and to make suggestions on how good plans or strategies should be and should be implemented for using these capabilities. In this study, the relationships among business model, business model innovation, strategy and life cycles are investigated from various perspectives and recommendations are given for companies and investors to make successful decisions for generating and implementing useful business models. This study specifically introduces the Turkish version of the Rogers Innovation Curve as “5K” into the literature.