Open Access
Peer-Reviewed
Foundational Models & Architectures
Business Model Innovation Based on Disruptive Technologies: a Critical Success Factors Categorization
Abstract
Business model innovation (BMI) hol ds significant importance in today's digital landscape, empowering enterprises to leverage disruptive technology for value creation and competitive advantage. However, the rapid evolution of these technologies presents various challenges, including uncertain market conditions, potential financial risks during the initial phases, employee resistance, and the risk of distraction from core responsibilities. This research aimed to identify the character istics essential for the successful implementation of BMI through effe ctive utilization of disrupti ve technologies. This was accomplished through a thorough review of existing literature, organizing critical success factors into the business model canvas framework, and applying a framework for identifying and classifying digital technologies based on demand. The findings underscored the importance of trust, efficiency, and adaptability across various BMI components. Technologies like Artificial Intelligence enhance objective alignment and personalized client experiences, while blockchain te chnology fosters trust and tran sparency. Cloud computing, on the other hand, enhances resource accessibility and flexibility. To achieve optimal BMI in today's digital landscape, it is important for organisations to proactively integrate thes e technologies into their operations, while fostering adaptability and engaging stakeholders.
Keywords
Critical success factors
business model innovation
disruptive technologies
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Declarations & Ethics
Funding:
This research received academic dissemination support through ESCAP / JournalsHub publishing programs.
Conflicts of Interest:
The authors declare no competing financial or institutional interests.
Peer Review:
Double-blind peer reviewed by international subject specialists.
License:
Creative Commons Attribution 4.0 International (CC BY 4.0).
How to Cite This Article
APA / MLA / BibTeX
Edwards, et al. (2024). Business Model Innovation Based on Disruptive Technologies: a Critical Success Factors Categorization. IADIS International Journal on Computer Science and Information Systems, 19(1). https://doi.org/10.33965/ijcsis_2024_v19i1_06
Edwards, et al. "Business Model Innovation Based on Disruptive Technologies: a Critical Success Factors Categorization." IADIS International Journal on Computer Science and Information Systems, vol. 19, no. 1, 2024. https://doi.org/10.33965/ijcsis_2024_v19i1_06
Edwards, et al. "Business Model Innovation Based on Disruptive Technologies: a Critical Success Factors Categorization." IADIS International Journal on Computer Science and Information Systems 19, no. 1 (2024). https://doi.org/10.33965/ijcsis_2024_v19i1_06