Definition
Innovative Business model: Novel ways of mediating between companies’ product and economic value creation.
CSR: How companies manage the business processes to produce an overall positive impact on society.
Introduction
Every day brilliant people come up with new, innovative ideas. Many of these ideas are also further developed into products or services. The key moment, however, is when somebody asks: How will you make money out of the product? It is not certain that a captivating new idea will be able to gather the profit it needs in order to survive. Further, lesser services and products may supersede the more advanced ones, in terms of revenues and profits Christensen 1997; Chesbrough and Rosenbloom 2002). This is where a good business model makes a difference, by describing the rationale of how an organization creates, delivers, and captures value (economic, social, or other forms of value). Chesbrough and...
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References and Readings
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Oftedal, E.M. (2013). Business Model Innovation. In: Idowu, S.O., Capaldi, N., Zu, L., Gupta, A.D. (eds) Encyclopedia of Corporate Social Responsibility. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-28036-8_260
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DOI: https://doi.org/10.1007/978-3-642-28036-8_260
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