The novelty-centered business model: a transition mechanism between exploration and exploitation in SMEs

What is it about?

To keep up with changing business conditions, small and medium enterprises must not only develop new products and services, but also find effective means to exploit their innovations. This process can be enhanced by business model innovation--finding not only new products but new partners outside the organization. Furthermore, owner-managers should depend not only on their own resources but also the creativity and entrepreneurial insight of their personnel to do so.

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