SUBMITTED TO: MA`AM MEHREEN WAHEED

SUBMITTED BY: ALI RAZA (L-1331)

HARIS MOAZ (L-1347)
KASHAF ARSHAD (L-1341)
MUHAMMAD AMMAR (L-1345)
UROOJ AZEEM (L-1360)

SUBJECT: BUSINESS RESEARCH METHOD

TOPIC: BUSINESS INNOVATION MODEL

SUBMISSION DATE: 16TH OCTOBER` 2020

 ALI RAZA (L-1331)
Article Title: Innovation and Family Ownership.

Author Name: Monomita Nandy, Jean Chen

Year: 23-june-2013
Link: https://doi.org/10.1111/corg.12034

Literature Review: Innovation is that the method of developing new technological information
and putts that information to productive use. “Cohen and Klepper” (1996) differentiate
innovation as method and merchandise innovation method innovation reduces production prices
and merchandise innovation will increase the worth that buyers area unit willing to pay.

Types of innovation area unit related to the subsequent risk factors:

 The likelihood of the failure of R&D investment is on top of that of typical investments.
 New technologies tend to be opaque (Rajan & Zingales, 2001), which suggests that
innovation is commonly less understood by market participants.
 The expected come on new technology depends on the firm's lead‐time advantage, which
suggests that the likelihood of imitation by competitors could decrease the profit of
victorious innovation comes (Helpman, 1993).

Therefore, victorious innovation needs comfortable innovation investment (such as R&D,

marketing, programs to teach shoppers concerning new technologies and products), and
investment in external resourcing (such as attracting and holding entrepreneurs and proficient
scientists). Large shareholders that care concerning the soundness of the firm specialize in new
technology development even supposing it should mean temporary fluctuations available costs.
Family management is that the dominant type of business round the world, however notably in
rising markets, it's generally undoubted by alternative equity holders. In several instances,
family‐owned businesses take the shape of a little close corporation, whereas it's an oversized
business using tons of, or perhaps thousands of employees in alternative cases. In rising markets
the massive structure is way additional common and this has notably important impact on
innovation as a result of these large family corporations possess the benefits in R&D investment
and economies of scale that area unit needed for victorious innovation. Republic of India (Bharat
Asian country Asian nation) may be an example of this kind of rising market as a result of
roughly seventy percent of Indian corporation’s area unit area unit and enormous may be
propulsion of innovation in India owing to the absence of the other variety of targeted
possession.

The living Literature on Family possession and Innovation:

In family‐controlled businesses, it's been argued that the foremost severe agency issues result
from the conflict of interest between majority and minority shareholders. Therefore, the
influence of family possession on firm innovation originates from however well the 2 parties
work along to scale back the agency downside and optimize resource allocation .On the one
hand, the advantage of family controlled business is that targeted family possession suggests that
a high level of family involvement within the firm, notably once the founders of the family
function chief operating officer or area unit on the board of administrators. They need a robust
attachment to and interest in their corporations. Therefore, the inducement alignment argument is
overwhelming and it reduces the agency downside between family (majority shareholder) and
alternative equity holders of the firm (minority shareholders). Additional recently, there are
studies that reach agency theory to elucidate the impact of family possession and innovation by
incorporating billet theory. These studies show that the family commonly holds its stakes for an
extended time and targets larger advantages, like the firm's growth, technological innovation and
long‐term firm survival. Moreover, family possession tends to take a position in R&D and
technological innovation instead of choosing the standard approach of sales maximization for
short‐term profit. Therefore, family possession ought to have a positive impact on a firm's
innovation activities. In Korea, another rising market shows that member of the family area unit
additional willing to take a position comes, like R&D, for his or her corporations than alternative
shareholders. However, investigation information from Taiwanese family corporations argue that
members of the family could abuse their power and misuse the funds, that results in decreasing
R&D intensity.

Article title: Business Model Innovation: (New Trends)

Purpose

This paper seeks to review and synthesize the latest trends in the business model literature and
investigate how companies approach business model innovation.

Introduction

Through finding new ways to describe the value proposition, businesses seek business model
creativity, For consumers, suppliers and stakeholders, to build and capture value. An large
corpus of the literature asserts that business model innovation is of critical importance to the
survival of businesses.

The success of company and as a source of competitive advantage. Given the growing
possibilities for new business models created by changing consumer preferences and
technological advancements, it is beginning to attract increasing attention.

In the literature on how businesses alter their business models, contradictory methods exist. One
approach indicates that it is possible to explore alternative business models through an The
evolutionary process of gradual improvements to the elements of the business model The other
approach promotes creative business models, primarily practice-oriented

The replacement of current business models can be established through a creative process.

literature review

Given the diverse body of literature on business models, a systematic literature review was
carried out. Conducted to eliminate prejudice in studies (Transfield et al., 2003). Compared to
the previous Our review criteria, business model literature, are summarized in Table I. The
journal articles

Between January 2010 and December 2016, they were released. As emphasized in

Figure 1, since previous years, most of the contributions in this field have been issued during
this time.

Literature innovations were comprehensively checked up to the end of 2009 (Zott).

And et al., 2011). Using four (EBSCO Company Complete, ABI / INFORM, JSTOR and
JSTOR) databases

Science Direct), peer-reviewed articles were searched for with words such as business model(s),

Value proposition for creativity, value development and value capture in the title,

Term in abstract or subject. 8,642 peer-reviewed articles were obtained as a result.

In our study, studies have been included if they directly discuss business models and models
According to the UK Association of Business Schools list (ABS, 2010), they were top-rated.
This, this, The ranking has been used not just because the "Impact Factor" journal is taken into
account as a Measurement of journal quality, but also using other measures in conjunction,
making it one of the Most detailed journal ratings. 1,682 entries were retrieved by applying these
parameter of, 122 journals. 831 papers were identified through the exclusion of duplications.
Like Harvard In each of the chosen journals, Business Review is not listed among the peer
reviewed journals. We used the previous criterion and found 1122 in the ABS list and we were
included in the ABS list.
Conclusions

The goal of this review was to examine how companies approach business model innovation.
The latest literature indicates that innovation techniques for business models may either be
developmental or progressive. The proof analyzed, however, points to a more complicated.

In addition to the basic binary approach, corporations should consider alternative businesses,
Models, accessible and disruptive technologies by experimentation. Researchers who are
involved in this field are able to explore and Examine the various pathways businesses may
follow to improve their business models. Even though This analysis identifies the various ways
for businesses to evolve in the business model, the processes by which businesses can modify
their business models and the external factors

Link and References:

ABS (2010), Academic Journal Quality Guide, Version 4, The Association of Business Schools,
London.

Al-Debei, M.M. and Avison, D. (2010), “Developing a unified framework of the business model
concept”, European Journal of Information Systems, Vol. 19 No. 3, pp. 359-376.

Amit, R. and Zott, C. (2012), “Creating value through business model innovation”, MIT Sloan
Management Review, Vol. 53 No. 3, pp. 41-49.

Andries, P. and Debackere, K. (2013), “Business model innovation: Propositions on the

appropriateness of different learning approaches”, Creativity and Innovation Management, Vol.
22 No. 4, pp. 337-35

Link:

https://www.emerald.com/insight/content/doi/10.1108/NEJE-06-2019-0030/full/html

HARIS MOAZ (L-1347)

Article Title: Changes Through Innovation In Family Businesses.

Author Names: Stefano Bresciani, Alkis Thrassou.

Year: 01-March-2013.

Link: https://doi.org/10.1504/WREMSD.2013.052359
Keywords: Family business, Change, Innovation, Resource perspective, Strategy.

Literature Review: Research on the linkages between family corporations, innovation and alter
is scant and lacking empirical investigation. In parallel the endlessly dynamical business setting
and its ensuant unpredictability and strategic disorientation, demand for radical structure
changes, while not but signifying their nature. This analysis investigates the innovative capability
of family businesses and also the degree and manner to that innovation will cause modification
or perhaps be the modification required within the context of strategic reorientation. The analysis
investigates innovation with relevancy the resource perspective that is measured in terms of the
human, social and selling capitals. The findings highlight the innovative strength of family
businesses and counsel that innovation is so not merely the suggest that of strategic modification,
but, in its deeper sense, the strategic modification itself. Moreover, innovation and alter, as a
unified goal, square measure needed to be dynamic and constant, as against static and instant.

Article Title: A Study of the Relationships between Generation, Market Orientation, and
Innovation in Family Companies.

Author Names: Lien Beck, Win Janssens.

Year: 01-September-2011.

Link: https://doi.org/10.1177/0894486511409210

Keywords:  Generation, Responsive market orientation, Proactive market orientation, rising

market orientation, Innovation.

Literature Review: This study focuses on market orientation in family-owned companies.

Market orientation is influenced by structure characteristics and is at an equivalent time a key
antecedent of innovation. Since the generation up to speed for the most part shapes the family
firm’s organization, the authors examine the relationships between the generation up to speed,
market orientation, and innovation. victimization multivariate analysis, the study demonstrates
that later generations show a lower level of market-oriented behavior, that the positive
relationship between market orientation and innovation is maintained in an exceedingly family
firm sample, which the generation up to speed influences innovation through its influence on
market orientation.
 KASHAF ARSHAD (L-1341)

Article name: State of entrepreneurship and globalisation in Pakistan

Author: Anjum Fayyaz , Sarfraz A. Mian  , Jamshed H. Khan 

Publication date:  26 February 2009

Link:
https://www.researchgate.net/publication/247834666_State_of_entrepreneurship_and_globalisati
on_in_Pakistan

Literature review:

Economists take entrepreneurship because the capabilities of an enterprising person to manage

and organise various factors of production, take risk, innovate and imitate new things and meet
the unforeseen situations. In Pakistan, non-availability of authentic data on Small and Medium
Enterprises (SMEs) and entrepreneurship, overlapping mission statements of agencies working
to market SMEs and entrepreneurs, non-availability of right BDS2 providers (public and private)
and non-professional management of interest groups like chambers and associations within the
industrial clusters have hampered the expansion and sustainability of SMEs in Pakistan. The
paper also talks about the necessity to know the holistic approach supported clusters and
networks development methodology to initiate the economic change management in Pakistan.

Article title: Why businesses succeed or fail. A study on small businesses in Pakistan

Author: Shabir Hyder, Robert N. Lussier 

Date: 07-March- 2016

Reference: https://www.emerald.com/insight/content/doi/10.1108/JEEE-03-2015-0020/full/html

Literature review: The aim of this paper is to look at the factors that result in either success or
failure of tiny corporations in Pakistan. This study methodology could be a survey analysis
applying the Lussier Model of business success and failure with a sample of 143 tiny businesses
to higher perceive the explanations of their success or failure victimization logistical regression
applied mathematics analysis. Results indicate that business coming up with, correct worker
staffing, adequate capital inflows and partnerships square measure necessary for the viability and
success of tiny businesses in Pakistan. Results give any support for the validity of the Lussier
Model in Pakistan and globally. Thus, tiny businesses owner/managers will use the model to
assist improve their probabilities of success and to avoid failure. alternative stakeholders, as well
as parties that assist and advise them, investors and establishments who/that give them with
capital and alternative resources and communities and society by and huge, may enjoy this
model. The results and discussion additionally give data to help public policymakers in
developing programs to support tiny business development. This is the primary study on success
and failure of tiny businesses in Pakistan. With the good discrepancy within the literature on that
variables, in fact, distinguish success from failure, there's no accepted theory. Thus, this study
contributes to the literature to higher perceive why some businesses succeed et al. fail, and it
supports the utilization of the Lussier Model globally.

MUHAMMAD AMMAR (L-1345)

Title article: Important role for investors and partner's in business model innovation

Link: http://www.springer.com/

Introduction

A firm`s performance has vital importance and plays important role for investors partners
shareholders and economy. For instance investors have highly interest to get return on their
investments .Every firm wants to maximise its profits and have goal to maintain its goodwill.
Many researchers or studies are conduct to know which factor have a bad effect on the firms
performance but still no effective model is established which established which results maximum
variations.

Literature review :-

In Taiwan, family business, creativity and organisational slack Yunshi Liu, Linda C Wang Chen,
Yi-Jung Chen

Journal of Management of Asia Pacific 34 (1), 193-213, 2017

This research examines the impact on innovation in high-tech firms in Taiwan of family
ownership and unabsorbed organisational slack resources. Companies with higher levels of
family ownership were shown to have substantially lower internal innovation in terms of R&D
expenditure in a sample of 278 public Taiwanese companies over a period of seven years (2002-
2008), reflecting a total of 1946 observations, as shown in a number of previous studies. Yet a
main moderating factor was also identified by the report. The relationship between family
ownership and creativity has been moderated by unabsorbed organisational slack. Specifically,
the relationship between family ownership and R&D strength shifted to positive when companies
had high levels of unabsorbed slack.

In addition, the Taiwan data showed a further moderating organisational slack relationship; for
companies with low-level unabsorbed slack, a negative relationship between family ownership
and royalty payment intensity emerged. Royalty payments and technology acquisitions are
frequently correlated with lower company innovation, and Taiwan's high-tech companies
concentrated more on innovation by higher R&D and lower external technology royalty
payments with additional slack.

At link.springer.com

Business Model Design: An Activity System Perspective

Introduction

This article notices the activities of the Focal. Firm, model, system & managers are the part of
Focal. In firm, third parties like suppliers etc. are involved. Model includes knowledge about the
construction of activities. System include the importance of topic for the Managers to help in the
outline of Business Models.

Activity system: key to understanding the firm’s business model

The main motive if the focal firms is to create the values for the parties to utilize the chances of
business success. We can see focal firm business model through activities of humans in form of
physical or in capital resources.

Brief review of the recent literature on business models:

The literature of business model well defined the useful activities. Business model illustrate the
structure of organizations customer values. Through this structure transactions and activities can
be seen in one platform.

Conclusion:

In this article we can declare about the point of view of business models through different ways
that are advanced in literature. We also able to learn about how to run the business smoothly and
creating shareholders values.

References:
1. The story of FriCSo is the subject of a case study series that highlights the various steps in the
design and the execution of a business model. See C. Loch, C. Zott, A. Guttman, P. Jokela and
D. Nahminas, FriCSo (A): How to translate a new technology into a business (model)?; FriCSo
(B): Designing the new business model and Fricso (C): Executing The New Business (Model),
INSEAD case studies (2008).
2. R. Amit and C. Zott, Value creation in e-business, Strategic Management Journal 22, 493e520
(2001). C. Zott and R. Amit, Business model design and the performance of entrepreneurial
firms, Organization Science 18, 181e199 (2007); C. Zott and R. Amit, The fit between product
market strategy and business model: implications for firm performance, Strategic Management
Journal 29, 1e26 (2008). [As well as] their transactional dimension, we might consider more
carefully the social aspects of relationships between various business model participants drawing
on different resources. 224 Business Model Design: An Activity System Perspective.

Long Range Planning 43 (2010) 216e226

http://www.elsevier.com/locate/lrp

UROOJ AZEEM (L-1360)

Literature Review

Article no 1:

Drobyazko, S., and et.al., has been conducted research on “Entrepreneurship

innovation model for telecommunication enterprises”. According to this article the
entrepreneurship innovation model for functioning of the info communication
technologies enterprises is offered where all structures should be directed to the
consumer and act in the direction of achieving the highest degree of satisfaction of its
needs. The presence of enterprises of modern Information Communication
Technologies (ICTs) extends access to electronic arrays, allows them to receive
information and use it in economic activity, reduce the products cost, stimulate its
demand and lead to the expansion of globalization caused by Internet appearance.
Based on the previous research the globalization of services intensified the struggle for
a new re-division of telecommunications and raised the world closely to the stage of
telecommunication imperialism. The present research writing method is based on the
use of the economic and system analysis, when developing of theoretical and scientific
and methodological issues justifying the effectiveness of the development of
information infrastructure; terminological analysis-to clarify the terms that reveal the
essence of resource support for innovation activities; the method of classification and
technology-to systematize approaches to the interpretation of economic categories;
philosophical and historical analysis-to study the innovation activity of enterprises
within the framework of world scientific theories and through the prism of the
historical world outlook. The result indicated that, the global economy clearly shows
that its survival in a globally competitive environment requires the goal of introducing
and encouraging underground enterprise innovation. The introduction of innovation
today is a prerequisite for their efficient functioning and the possibility of possible
access to global markets. At the same time, the following tasks are solved: ensuring the
organizational effectiveness of applying sources of financing for innovation and
enhancing the competitiveness of the enterprise. The resources identification of the
enterprise innovation activity is substantiated. It is a composition of its natural, labor,
financial, informational, organizational, attracted, borrowed and other own sources,
facilities and opportunities they providing when applied in the production process and
the implementation of innovative or other activities. Based on the results of study they
recommend the following actions with regard to the improvement of the innovation
activities of the telecommunication enterprises. The main requirements of service
providers to the network environment include, ensuring the operation of equipment in a
“multi-operator” environment, that is, an increase the number of interfaces for
connecting several telecom operators to the network at once and including at the access
level; ensuring the interaction of service provider nodes for their joint provision, the
possibility of using "large-scale" technical solutions at the starting cost of equipment
with minimal risk

Article no 2:
Another research paper “ Busniness Model Innovation In Greece , Its effects on Organization
Sustainability” conducted by Kilintzis. P et.al . The paper investigates business model
innovation (BMI) and its effects on the organizational sustainability of a population of small- and
medium-sized businesses with certain organizational characteristics. The research attempts to
uncover how effectively BMI is applied, reveal its effects on organizational sustainability.
Technological advances have been recognized as being among the primary drivers of social,
national, and financial development (Del Giudice and Maggioni 2014). Moreover, innovation
processes constitute a critical factor for the adequate application of technology in general and
knowledge-sharing in particular (Del Giudice et al. 2015). Regarding organizational
sustainability, it is considered a systematic concept directly related to the continuity of economic,
social (including cultural), and environmental issues (Ribeiro et al. 2015). It actually defines an
organization’s ability to change, to provide, or to adapt a total of service delivery practices and
opportunities which should be effective enough in order to help the organization become
functional and developed (Kim 2015). In general, sustainability is considered a multidimensional
aspect that should be supported by constant funding, which aims at creating knowledge and
capacity and providing value-based services. The aforementioned attributes are considered
critical to the organization’s ongoing survival and further development (Scheirer 2005).
Organizational sustainability is directly connected to sustainable development which according
to Longoni et al. (2014) is defined as the one that meets present needs without compromising the
ability of future generations that meet their own needs. Boons and Lüdeke-Freund (2013)
consider a business model (BM) as a framework that describes how a firm can be profitable by
selling products and services. In fact, a business model by definition mainly refers to value
creation and delivery. According to Osterwalder and Yves (2010), a business model is the
fundamental structure showing how companies create, deliver, and capture value. The research
was conducted as a qualitative case study, affected by appropriate grounded theory. The main
chosen methodology tool for this research was the interview based on a semi-structured
questionnaire that included all necessary aspects of the suitable grounded theory along with the
findings of previous work. The questionnaire was electronically sent and answered by email,
through telephone communication, and physically delivered to a number of small- and middle-
sized businesses mainly located in the Greek region of Western Macedonia. The businesses
participated in the research belonged to the retail, services, and industrial sector. The
questionnaire was sent to 63 firms and 21 of them fully answered the questionnaire, which
allowed the appropriate processing of the received data. The questionnaire included 37 questions
in total, separated into three main categories representing the three main aspects of the research
topic. Thus, the first part of the questionnaire included business model innovation-related
questions, the second part referred to organizational design, and the third part included enterprise
excellence-related questions. The questionnaire was mixed, including both Likert Scale answers
as well as qualitative answers. Full statistical analysis is then applied, analyzing and correlating
the research primary findings. The research ulterior doubled goal is to display BMI effects on the
businesses of a region that has been fully affected by a harsh financial crisis over the last decade.
The findings indicated that BMI is properly applied to the businesses of the region (Western
Macedonia, Greece) at most cases. Furthermore, its main principles, along with the principles of
organizational sustainability and SEE, are sufficiently comprehended by the company’s owners
and CEOs. A crucial re-search finding was that the financial resources and their availability were
not considered primarily important (regarding value creation, added value and BMI) for the
businesses of the region. This has been a surprising element, considering the differentiated
literature findings

References:

Drobyazko, S., Hrykoruk, I., Pavlova, H., Volchanska, L., & Sergiychik, S. (2019 ).
Enterprenureship Innovation Model for Telecommunicatiomn Enterprises. Enterpreneurship
Education .22(2), https://www.researchgate.net/publication/333161473

Kilntzis, P., Samara, E., Carayannis, E. G., & Bakourous, Y. (2020). Bussniess Model
Innovation in Greece , Its effects on organizational Sustainability. Journal of knowledge
Economy (11), 945-967.
https://doi.org/10.1007/s13132-019-0583-z