International Society for Professional Innovation Management (ISPIM)
Abstract
Media industries and other rapidly evolving, complex, uncertain markets have a hard time to survive if they do not optimize or radically change their business models. This paper analyses the potential of involving all relevant stakeholders of the value network in the development of a business model by means of a panel based multi-method Living Lab approach. Using an in-depth case study analysis, a critical analysis of both the potential value and the weaknesses of such an approach are being assessed. Although some difficulties exist, opening this innovation process and involving external actors in a structural way has the potential to increase the value creation and sustainability of the business model. This paper also stresses the importance of multidisciplinary research on multi-stakeholder involvement in business model innovation
