Loon, M, Otaye-Ebede, L and Stewart, J (2020) 'Thriving in the New Normal: the HR microfoundations of capabilities for business model innovation. An integrated literature review.' Journal of Management Studies, 57 (3). pp. 698-726. ISSN 0022-2380
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Abstract
Firms need to respond to the increasing competition and change of the current New Normal environment by being more innovative, and especially in developing new business models. This paper seeks to explore how microfoundations, particularly with respect to human resource management, play a key role in facilitating innovation in business models through the development of key needed capabilities. Four themes are identified with respect to business model innovation (BMI) in the New Normal: BMI as an enabler to create and operate across industries and product-markets; BMI as a mechanism for firms to better navigate changing institutional landscapes; BMI as giving rise to business model portfolios; and concurrent and cumulative innovations that can lead to BMI. This paper also develops a conceptual framework that presents a synoptic view of the five essential capabilities for BMI, which include analogical reasoning, sensemaking, dynamic capabilities, organisational ambidexterity, and organisational learning. Finally, it is shown how the microfoundations of a bespoke, development-oriented BMI HR architecture can support the advancement of these capabilities and thus contribute to the strategic HR literature.
| Item Type: | Article |
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| Keywords: | New Normal, business model innovation, capabilities, human resources, microfoundations, new ventures |
| Divisions: | Bath Business School Chancelry and Research Management |
| UoA: | Business & Management |
| Identification Number: | https://doi.org/10.1111/joms.12564 |
| Date Deposited: | 03 Feb 2020 14:37 |
| Last Modified: | 05 Feb 2022 01:40 |
| URI / Page ID: | https://researchspace.bathspa.ac.uk/id/eprint/13071 |
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