Blockchain and Organizational Characteristics: Towards Business Model Innovation

Abstract

Blockchain seems to challenge the current business models by providing opportunities for new value creation. However, several research gaps remain in literature in evaluating how firms can leverage new approaches to innovation management and opportunities created by blockchain. Supporting organizational characteristics affecting digital innovation management process also need attention in order to challenge the traditional theories while developing unique fundamental assumptions between innovation processes and outcomes. Thus, blockchain and organizational characteristics need to be understood as an encompassing, overarching and interrelated ecosystem in digital innovation management. Grounding on digitalization and innovation management, this research conceptualizes how blockchain technology and supporting organizational characteristics (i.e., R&D investment, strategic alignment, cultural support, top management knowledge and involvement, insights from customers and end-users) can be integrated for business model innovation. This research develops a conceptual framework involving multi-disciplinary collaborative actions that strengthen and empower business model innovation.