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Business Model Innovation, the Disruptiveness of Innovation and Stakeholder Orientation.

Disruptive innovation (DI) is a strategically important tool for creating new markets by introducing products with a different set of features and performance attributes compared to existing ones. Unlike previous studies that have mostly examined disruptive innovation in the context of new entrants, in this study, we look at the incumbent’s ability to introduce disruptive innovation via business model innovation (BMI). We also illustrate how this relation interacts with stakeholder orientation measured by four dimensions (customer, employee, competition, and shareholder orientation). We argue that innovation of incumbents’ business models allows for more disruptiveness of their product and service innovations. Additionally, we propose that firms with a high focus on current stakeholders are better able to use BMI for disruptive innovation. Using a dataset of 370 companies, we find that although the relationship between BMI and disruptiveness of innovations is positive and significant, the stakeholder orie...