Abstract：Business model innovation can provide remarkable competition superiority for enterprises. Therefore the key to business model innovation is to distinguish its mechanism and path. In this article, the elements of business model innovation have been analyzed based on the concepts of business model. Thus, the essence of the business model innovation has been discussed from the perspective of its elements. And then the mechanism of the business model innovation has been discussed. Finally, the research of the path of business model innovation has been carried out through the investigation of original innovation, induced innovation and imitative innovation. Suggestions for business model innovation in China have been made, including quick response to market changes, continuous improvement, as well as completed business logic. In conclusion, this article offers a new perspective for analyzing the business model, and also provides theoretical support for the business model innovation.
Keywords: Business Model Innovation, Elements, Innovation Theory, Innovation Path
source:Finance & Trade Economics ,No.6,2014