Research Talk by Alina Sorescu, Texas A&M University (US)
Alina Sorescu from Texas A&M University was the latest guest in our Research Seminar Series, presenting her research on business model innovation. This area is often less explored compared to product innovation but is critical for understanding how companies are changing their operations, delivering value, and interacting with customers in the digital economy.
Sorescu's presentation dissected the components of business model innovation, demonstrating its transformative potential, which has been under less empirical investigation. She focused on young, large-scale organizations and their inclination towards business model innovation, a trend driven by the dynamic nature of high-growth industries where traditional value creation methods are becoming outdated. In these sectors, companies are increasingly leveraging digital technologies, prioritizing adaptability and business model restructuring over firm-level technical knowledge.
The methodology Sorescu employed was notably innovative. Through text analysis of IPO prospectuses, she provided a quantifiable method to assess a company's emphasis on business model versus product innovation. This revealed a significant shift in investor attitudes, with a growing recognition of the complex benefits and potential returns of innovative business models, highlighting that investors are valuing the long-term benefits and competitive advantages of business model innovation.
The seminar went beyond academic discussion; it was a call to action for both businesses and researchers to reconsider their innovation strategies in the face of digital progress. For academics, the importance lies in researching the various layers of innovation that affect firm performance, investor behavior, and market tendencies.
To conclude, Alina Sorescu's research offers a substantial insight into the role of innovation in the digital economy. Her seminar provided a thorough analysis of the pivotal role of business model innovation in the success of modern firms and spurred a deeper conversation about innovation and its broader implications, marking a shift in the way we understand the drivers of growth and transformation in the digital age. We extend our gratitude to Alina for sharing her insightful work with us.