Paving the way for a new composite indicator on business model innovations
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The paper conceptualises business model innovations (BMI) as a fundamental change of the mechanisms and arrangements of how a company creates, delivers and captures value. It translates this definition into a composite innovation indicator that consists of a combination of radical product and radical process innovations, or radical product innovations combined with marketing and organisational innovations. Implementing this definition with empirical data from the Community Innovation Surveys (CIS) in Europe, we find that roughly one out of 20 SMEs has introduced a BMI in the three-year period preceding the surveys.