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What drives business model adaptation? The impact of opportunities, threats and strategic orientation

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Saebi, Tina, Lien, Lasse and Foss, Nicolai J. (2017) What drives business model adaptation? The impact of opportunities, threats and strategic orientation. Long Range Planning, 50 (5). pp. 567-581. doi:10.1016/j.lrp.2016.06.006 ISSN 0024-6301.

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Official URL: http://dx.doi.org/10.1016/j.lrp.2016.06.006

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Abstract

Business models change as managers not only innovate business models, but also engage in more mundane adaptation in response to external changes, such as changes in the level or composition of demand. However, little is known about what causes such business model adaptation. We employ threat-rigidity as well as prospect theory to examine business model adaptation in response to external threats and opportunities. Additionally, drawing on the behavioural theory of the firm, we argue that the past strategic orientation of a firm creates path dependencies that influence the propensity of the firm to adapt its business model. We test our hypotheses on a sample of 1196 Norwegian companies, and find that firms are more likely to adapt their business model under conditions of perceived threats than opportunities, and that strategic orientation geared towards market development is more conducive to business model adaptation than an orientation geared towards defending an existing market position.

Item Type: Journal Article
Subjects: H Social Sciences > HD Industries. Land use. Labor
Divisions: Faculty of Social Sciences > Warwick Business School > Entrepreneurship, Innovation & Management
Faculty of Social Sciences > Warwick Business School
Library of Congress Subject Headings (LCSH): Management -- Research, Business planning, Business enterprises -- Norway, Organizational change
Journal or Publication Title: Long Range Planning
Publisher: Elsevier
ISSN: 0024-6301
Official Date: October 2017
Dates:
DateEvent
October 2017Published
July 2017Available
3 June 2016Accepted
Volume: 50
Number: 5
Page Range: pp. 567-581
DOI: 10.1016/j.lrp.2016.06.006
Status: Peer Reviewed
Publication Status: Published
Access rights to Published version: Restricted or Subscription Access
Date of first compliant deposit: 27 February 2018
Date of first compliant Open Access: 5 July 2019

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