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The EC‐LQO five‐factor framework: An alternative lens for business model innovation in highly knowledge‐intensive industries
Author(s) -
Downs James B.,
Hossfeld Oliver,
Velamuri Vivek K.
Publication year - 2019
Publication title -
managerial and decision economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.288
H-Index - 51
eISSN - 1099-1468
pISSN - 0143-6570
DOI - 10.1002/mde.3003
Subject(s) - ontology , knowledge management , key (lock) , business , biopharmaceutical , factor (programming language) , interface (matter) , industrial organization , business model , computer science , process management , marketing , philosophy , computer security , epistemology , bubble , maximum bubble pressure method , biology , parallel computing , genetics , programming language
Growing technological complexity continues to drive firms to interact with the external innovation environment to achieve firm success. However, industries' complexities and the business model concept's underlying ontology have limited research on modeling the key factors that enable this interface. In this study, results of an empirical analysis of a unique dataset of 102 biopharmaceutical companies broadly support the EC‐LQO five‐factor framework as a useful tool to guide business model innovation for highly knowledge‐intensive environments.