Marketing

Business process

Business rule

Business Model Canvas

Work in process

Business process modeling

New business development

Computer science

Business model

Business

Process management

Value (mathematics)

Industrial organization

Finance

Knowledge management

Order (exchange)

Machine learning

Dynamic capabilities

Artifact-centric business process model

Journal of Business Research

In the contemporary complex and fast-changing markets, there is persistent pressure for Small-and-Medium Enterprises (SMEs) to engage in business model innovation to promptly meet customer expectations and successfully compete for survival. In the last decade, multiple approaches to business model development and innovation have been explored. However, they have been primarily designed for large-sized companies, while SMEs display distinctive organizational attributes. Thus, SMEs require a tailored approach to design, experiment and innovate their business models, in order to frame the specific complexity of their value creation processes. This paper aims to explore how a Dynamic Business Modelling approach complies with inherent SME characteristics and serves as a lean strategy design tool for innovating associated business models. A case-study of a real SME currently involved in innovating its business model illustrates and discusses the empirical evidence emerging from the use of this approach.

Fostering growth patterns of SMEs through business model innovation. A tailored dynamic business modelling approach