Can emotion provide a new approach to business model innovation?

Straker, Karla, Wrigley, Cara, & Rosemann, Michael (2013) Can emotion provide a new approach to business model innovation? In Cai, Jun, Lockwood, Thomas, Wang, Chensheng, Tong, Gabriel Y., & Liu, Jikun (Eds.) Proceedings 2013 IEEE Tsinghua International Design Management Symposium : Design-Driven Business Innovation, Institute of Electrical and Electronics Engineers, Inc., Shenzhen, China, pp. 312-317.

Abstract

Companies require new strategies to drive growth and survival, as the fast pace of change has created the need for greater business flexibility. Therefore, industry leaders are looking to business innovation as a principle source of differentiation and competitive advantage. However, most companies rely heavily on either technology or products to provide business innovation, yet competitors can easily and rapidly surpass these forms of innovation. Business model innovation expands beyond innovation in isolated areas, such as product innovation, to create strategies that incorporate many business avenues to work together to create and deliver value to its customers. Existing literature highlights that a business model’s central role is ‘customer value’.

However, the emotional underpinnings of customer value within a business model are not well understood. The integration of customer emotion into business model design and value chain can be viewed as a way to innovate beyond just products, services and processes. This paper investigates the emotional avenues within business strategy and operations, business model innovation and customer engagement. Three propositions are outlined and explored as future research. The significance of this research is to provide companies with a new approach to innovation through a deeper understanding and integration of their customers’ emotions.

Impact and interest:

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ID Code: 63486
Item Type: Conference Paper
Refereed: Yes
Additional URLs:
Keywords: Business Model Innovation, Design and Emotion, Business Innovation, Strategy
ISBN: 978-1-4799-1542-2
Subjects: Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > DESIGN PRACTICE AND MANAGEMENT (120300) > Design Innovation (120302)
Divisions: Current > Schools > School of Design
Current > QUT Faculties and Divisions > Creative Industries Faculty
Current > Schools > School of Information Systems
Current > QUT Faculties and Divisions > Science & Engineering Faculty
Copyright Owner: All rights reserved. Copyright ©2013 by IEEE.
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Deposited On: 20 Oct 2013 22:34
Last Modified: 07 Mar 2014 09:16

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