ABSTRACT
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book discusses the business model concept relevancy, background, and inconsistencies currently present within this research domain. It focuses on the process of business model innovation, and challenges related to that. The book develops business model innovation theory further, by presenting ideal types of business model innovation outcomes, and a detailed business model innovation process typology, followed by an empirically based business model taxonomy, which operationalizes the many configurations available for companies to innovate their business model upon. It discusses the relevancy and importance of connecting the business model concept and its innovation processes with performance management literature, and the challenges related to that. The book deals with some research and managerial opportunities and challenges lying ahead, including the increasing importance of social and environmental sustainability and the potential impact of Industry 4.0 and related smart technologies on business models and their innovation.
