Business Model and Business Model Innovation: Scholarly Incongruence and Implications to Entrepreneurial Firms

Recent entrepreneurship research emphasise the importance of the emerging knowledge in business model and business model innovation as they can be considered critical for businesses to disrupt and compete effectively in the dynamic international business markets. To date, there still is incongruence in conceptualisation of these terminologies and inconsistent empirical findings, conclusions and implications. This study reviews definitions/concepts that influence and present significant implications to scholars in the field and implications to entrepreneurial firms following the narrative literature review approach. The study presents a more congruent trend of understanding of the concepts while justifying their implications to contemporary entrepreneurial firms.