Innovation, Creativity and Entrepreneurship Research Paper 2022

Running head: INNOVATION, CREATIVITY AND ENTREPRENEURSHIP
INNOVATION, CREATIVITY AND ENTREPRENEURSHIP
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INNOVATION, CREATIVITY AND ENTREPRENEURSHIP1
Table of Contents
Introduction......................................................................................................................................2
Business Model Innovation and its significance.............................................................................2
Traditional Business Model used in the Retail Industry for creating and capturing value..............4
Drivers of innovation.......................................................................................................................5
E-Retail business model..................................................................................................................6
Comparison of the new business model with the traditional one....................................................8
Conclusion.......................................................................................................................................9
References......................................................................................................................................10

INNOVATION, CREATIVITY AND ENTREPRENEURSHIP2
Introduction
As opined by Christensen, Bartman and Van Bever (2016) the recent developments in the
field of technology had made the usage of innovative business models a possibility within the
particular context of the contemporary business corporations. Nielsen and Lund (2018) are of the
viewpoint that the adequate innovative business models offers the opportunity to the business
corporations to effectively capitalize on the recent customers trends and thereby not only
improve the manner in which services are being delivered to the customers but also earn a higher
amount of profitability as well. For example, presently it had been seen that the majority of the
customers do not like to opt for the “brick and mortar” model of business used by the business
corporations rather they feel more at ease taking the help of the e-commerce model of business
or others (Foss and Saebi 2017). More importantly, it had been seen that the effective usage of
the innovative or the transformational business models helps the business corporations to
adequately link the new technologies that they are using with the emerging market trends or the
needs. This paper intends to undertake an analysis of the concept of business model innovation
for a means for creating and capturing value through the usage of the case study of Amazon and
the innovative business model used by it.
Business Model Innovation and its significance
Osterwalder and Pigneur (2010) are of the viewpoint that the construct of business model
innovation can be defined as the art or for that matter the process of enhancing advantage as well
as value creation by way of making simultaneous changes to both the operating model and the
business corporation’s value proposition. Adding to this, Linder and Williander (2017) have
noted that at the corporation’s value proposition level, the change can be directed to enhance the