Business Model Innovation as Strategic Renewal Process: A Case of China’s Most Innovative Firm
Abstract
To survive in today’s hypercompetitive business environment, firms from every sector must rely on innovation. Innovation is one of the main drivers of a firms’ strategic renewal process. Strategic renewal process often calls for business model renewal which is only possible through business model innovation. Business model innovation is relatively new concept in business literature. This article is an attempt to highlight the business model innovation process of one of the most innovative firms of our time from China. Over the last thirty years, this firm went through multiple strategic renewal processes by reinventing its business model inspired by the technological changes. In doing so, this firm aims to change the whole white goods manufacturing industry as we know it today.
Downloads
References
Barden-Fuller, C.&Volberda, H. W. (1997). Strategic Renewal. International Studies of
Management & Organization, 27(2), 95-120.
Baden-Fuller, C. & Morgan, M. S., (2010). Business Models as Models. Long Range Planning,
43, 156-171.
Casadesus-Masanell, R. &Ricart, J. E., (2011). How to Design A Winning Business Model.
Harvard Business Review, January-February, Retrieved from https://hbr.org/2011/01/how-
to-design-a-winning-business-model.
Chakravarthy, B. S. (1984). Strategic self-renewal: A strategic planning framework for
today.Academy of Management Review, 9(3), 536-547.
Chesbrough, H. & Rosenbloom, R. S.(2002). The role of the business model in capturing value
from innovation: evidence from Xerox Corporation's technology sipn-off companies.
Industrial and Corporate Change, 11(3), 529-555.
Cucculelli, M., &Bettinelli, C. (2015). Business models, intangibles and firm performance:
Evidence on corporate entrepreneurship from Italian manufacturing SMEs. Small Business
Economics, 45, 329-350.
Doz, Y. L. & Kosonen, M.(2010). Embedding Strategic Agility. Long Range Planning, 43(2-3),
370-382.
Fischer, B., Lagu, U. & Liu, F. (2015). The Haier Road to Growth. Business + Strategy.
Retrieved from http://www.strategy-business.com/article/00323?gko=c8c2a
Fischer, B., Lagu, U. & Liu, F. (2013). Reinventing Giants: How Chinese Global Competitor
Haier has Changed the Way Big Companies Transform. San Francisco, CA: Jossey-Bass. Floyd, S. W. and Lane, P. J. (2000). Strategizing throughout the organization: Managing role
conflict in strategic renewal. Academy of Management Review, 25, 154-177.
Floyd, S. W. and B. Wooldridge (2000). Building strategy from the middle: Re-conceptualizing
strategy process. Thousand Oaks, CA: SAGE.
Gambardella, A. &McGahan, A. M., (2010). Business-Model Innovation: General Purpose Technologies and their Implications for Industry Structure. Long Range Planning, 43(2-3), 262-271.
Haier Electronics Group Co., Ltd. (2016). Annual Report 2015. Retrieved from http://www.haier- elec.com.hk/index.php?route=investor/report
Haier Electronics Group Co., Ltd. (2015). Annual Report 2014. Retrieved from http://www.haier- elec.com.hk/index.php?route=investor/report
Haier Electronics Group Co., Ltd. (2014). Annual Report 2013. Retrieved from http://www.haier- elec.com.hk/index.php?route=investor/report
Haier Electronics Group Co., Ltd. (2013). Annual Report 2012. Retrieved from http://www.haier- elec.com.hk/index.php?route=investor/report
Haier Electronics Group Co., Ltd. (2012). Annual Report 2011. Retrieved from http://www.haier- elec.com.hk/index.php?route=investor/report
Khanna, T & Palepu, K. G. (2010). Winning in Emerging Markets: A Road Map for Strategy and Execution. Boston: Harvard Business Press.
Magretta, J.(2002). Why Business Models Matter. Harvard Business Review, May, 80(5), 86-92. Osterwalder, A. &Pigneur, Y., (2010). Business Model Generation - A Handbook for Visionaries,
Game Changers, and Challengers. Hoboken, New Jersey: John Wiley & Sons, Inc..
Serrat, O. 2012. Business Model innovation, Washington, DC: Asian Development Bank. Sharma,P. and J. J. Chrisman (1999). Toward a reconciliation of the definitional issues in the field
of corporate entrepreneurship. Entrepreneurship: Theory & Practice, 23, 11-27. Skarzynski, P. & Gibson, R.(2008). Innovation to the Core: A Blueprint for Transforming the Way
Your Company Innovates. Boston, Massachusetts: Harvard Business Press.
Spieth, P., Schneckenberg, D., & Ricart, J. E. (2014). Business model innovation: State of the art
and future challenges for the field. R&D Management, 44, 237-247.
Teece, D. J., (2010). Business Models, Business Strategy and Innovation. Long Range Planning,
43(2-3), 172-194.
Volberda, H.W., Bosch, F.A.J. van den & Heij, C.V. (2013). Re-inventing business: hoe
bedrijvenhunbusinessmodelinnovere. Assen: Van Gorcum ism Stichting Management Studies.
Wirtz, B. W., Pistoia, A., Ullrich, S., & Gottel, V. (2016). Business models: Origin, development and future research. Long Range Planning, 49, 36-54.
Zahra, S. A. (1996). Governance, ownership, and corporate entrepreneurship: The moderating impact of industry technological opportunities. Academy of Management Journal, 39(6), 1713-1735.
Zott, C. & Amit, R., (2010). Business Model Design: An Activity System Perspective. Long Range Planning, 43(2-3), 216-226.
Downloads
Published
How to Cite
Issue
Section
License
Disclaimer
Global Business Management Review (GBMR) has taken all reasonable measures to ensure that material contained in this website is the original work of the author(s). However, the Journal gives no warranty and accepts no responsibility for the accuracy or the completeness of the material; no reliance should be made by any user on the material. The user should check with the authors for confirmation.
Articles published in the Global Business Management Review (GBMR) do not represent the views held by the editors and members of the editorial board. Authors are responsible for all aspects of their articles except the editorial screen design.
Submission of an article is done with the understanding that the article has not been published before (except in the form of an abstract or as part of a published lecture, or thesis) that it is not under consideration for publication somewhere else; that if and when the article is accepted for publication, the author's consent to automatic transfer of the copyright to the publisher.