ABSTRACT
Scholars have demonstrated that I4.0-related technologies impact firms' business models. This chapter introduces the phenomenon of business model innovation, its causes and its most commonly used tools, such as the Business Model Canvas and the Lean Canvas. It is important to understand that it is essential for leaders in the digital age to continually innovate their business model and the experimentation, testing and continuous learning that comes with it. The business model is commonly assumed to answer how the business plans to make money, in other words, be viable. Of course, digital technologies have been a key driver of business model transformations by enabling new ways of creating and capturing value, new exchange mechanisms and transaction architectures and new boundary-spanning organisational forms. In summary, digital transformation can encourage the development of disruptive business models and offer unprecedented value-creating and value-capturing opportunities.
