Does BMI help business to succeed?
Marikka Heikkilä (University of Turku)
Jukka Heikkilä (University of Turku)
Harry Bouwman (TU Delft - Information and Communication Technology)
Olli Heimo (University of Turku)
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Abstract
This study investigates if BMI helps business innovation to succeed. We analyzed 27 SME cases having differing combinations of Business Model Innovation (BMI), New Product Development (NPD) and effectuation methods. We also analyzed the drivers and market strategy of the SMEs. We found out that typical SME innovation success cases combine at least two methods of implementation, such as BMI and NPD, and focus on low-end market. Effectuation in combination with the aforementioned seems to play significant role as well.