The Use of Analogies for Business Model Ideation – Creative Industries as Source and Target for New Business Models
Proceedings of the 3rd INTERREG CONFERENCE, “Creative Industries: Think Tanks for Innovative Practices in Management, Strategy and Organization?” November 2013
Posted: 3 Aug 2014 Last revised: 8 Feb 2015
Date Written: November 7, 2013
The use of analogies is a creative way to imitate and translate existing technologies, concepts and general solutions into different industries. While most studies in this rarely researched field deal with products and services, this paper focuses on the methodological approach of the adaptation/imitation of business models across sector boundaries. Based on strategy and innovation research, as well as psychology literature we conduct three different studies to understand how companies make use of analogies to develop new business models. We show how companies from the radio broadcast and digital screwing machine sector use analogy processes and how companies from other industries can learn from digital newspaper business. The results indicate that multiple analogy processes exist, each depending on the specific aim and intent of the analogy user.
Keywords: Business model innovation, inspiration, cross-industry innovation, disruptive innovation, creative industries, media, life-sciences, pharmacy, analogy, analogical thinking
Suggested Citation: Suggested Citation