Business Model Innovation Triggered by Industry 4.0
Spring Servitization Conference SSC, 2017; ISBN: 978-1-85449-418-4
10 Pages Posted: 26 Dec 2017
Date Written: May 15, 2017
Purpose: Technologies related to industrial internet/industry 4.0 may have a huge potential to generate new value. We argue that in order to fully explore and exploit the potential of those technologies, the concept of business models needs to be applied.
Design/Methodology/Approach: We apply an explorative research approach based on case study analysis. We analyse four examples of business model innovation in order to understand how technologies can be explored and exploited by means of business model innovation.
Findings: It is essential to explore and exploit new technologies. Business model innovation without the adoption of new technologies affects the business model outcome negatively.
Originality/Value: Connectivity is central to industrial internet/industry 4.0. Hence, it needs to be included into the business model decomposition. In addition, the analysis shows the interdependencies between the different dimensions and thus, enhances transparency.
Keywords: business model innovation, technologies enabling digital transformation, industrial internet
Suggested Citation: Suggested Citation