The framework proposed in the study demonstrates how Lean Startup Approaches (LSAs) can be effectively utilized as agile methods to facilitate Business Model Innovation (BMI) within the context of Digital Entrepreneurship. This framework is based on an exploratory multiple-case study of three digital multisided platform startups.
The framework showcases the following key points:
- Strategic Agility Context: The study sets the context within the realm of Strategic Agility, acknowledging the dynamic nature of digital environments where businesses need to adapt rapidly to remain competitive.
- Integration of LSAs and BMI: The framework illustrates the integration of Lean Startup Approaches (LSAs) and Business Model Innovation (BMI). It emphasizes how LSAs, which are rooted in lean and agile principles, can act as a powerful toolset for bringing innovation to business models.
- Digital Entrepreneurship: The framework places the application of LSAs within the realm of Digital Entrepreneurship, recognizing that startups operating in digital ecosystems require agile approaches that can swiftly respond to changing market conditions and customer needs.
- Empirical Evidence: The framework draws from empirical evidence gathered from the exploratory multiple-case study involving three digital multisided platform startups. It shows how these startups used LSAs to iteratively refine and innovate their business models, adapting to real-world feedback and evolving market trends.
- Agile Methods for BMI: The framework positions LSAs as agile methods that provide startups with the tools to navigate the complex process of Business Model Innovation. LSAs offer a systematic and iterative approach to testing assumptions, validating hypotheses, and adjusting business models in response to emerging insights.
Overall, the framework establishes a comprehensive understanding of how LSAs can be harnessed as agile methods to drive Business Model Innovation in the context of Digital Entrepreneurship. It highlights the practical application of LSAs in enabling startups to innovate, pivot, and adapt their business models with agility and strategic foresight.