International journal of business

Internet of Things (IoT) is an emerging and promising technology but complex and technologically is in uncertain environment. In order to develop the effective solution and maintain the competitive advantages, companies have to innovate the business model continuously. Business Model Innovation for IoT companies requires to drive the company performance. Despite the need of IoT companies to renew their business model to effectively create value for customers and capture value for the company, the significant factors of business model innovation for IoT companies have remained underresearch so far. This study addresses this knowledge gap by exploring the significant factors of business model innovation and ultimate impact towards IoT company performance. This study uses the PLS-SEM method involving samples of 75 IoT companies in Indonesia as developing countries who are still in a nascent stage of digitalization. Digital Leadership, Customer Orientation have been identified as significant factors of business model innovation while IoT company performance as the main expected outcomes.

The Role of Digital Leadership, Customer Orientation and Business Model Innovation for IoT Companies