Exploring the drivers of business model innovation and its significance for performance in high-tech sectors
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Business model innovation (BMI) has emerged as a vital determinant for the organization’s success and survival. This study explores the external (technological turbulence and market dynamism) and internal (knowledge management culture and inbound open innovation) antecedents of BMI and its effect on firm performance on a sample of high-tech companies from Poland (n=160). We find that external antecedents and inbound open innovation are positively related to BMI and that BMI positively affects company performance. This study contributes to the extant literature by emphasizing the role of organizational propensity to conduct open innovation, revealed by building strong ties with external parties and relying on their innovation through proactive search for external ideas, technological knowledge, and products.
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