Developing an Innovative Business Model in Entrepreneurial Organizations: A Qualitative Study

Abstract

The objective of this study is to examine innovation strategies in business models, competitive dynamics, implementation challenges, and decision-making processes in entrepreneurial organizations. This study was conducted using a qualitative approach and content analysis. Data were collected through semi-structured interviews with 16 managers and founders of entrepreneurial organizations in Tehran. Purposeful sampling was used, and theoretical saturation was considered as the stopping criterion for interviews. Data analysis was performed using NVivo software, and key themes were extracted. The findings indicated that innovation strategies in business models include value creation, leveraging new technologies, revenue model innovation, and business ecosystem development. Furthermore, competitive dynamics involve sustainable competitive advantage, risk management, competitor analysis, and supply chain optimization. The results also revealed that implementation challenges include organizational barriers, market constraints, financial challenges, and technological limitations. Finally, decision-making processes in entrepreneurial organizations are influenced by data-driven decision-making, agile approaches, leadership roles, and team participation. The findings suggest that entrepreneurial organizations must enhance their innovation culture, leverage digital technologies, adopt agile approaches, and foster strategic collaborations to successfully develop innovative business models. This study provides insights into improving entrepreneurial organizations' performance in competitive environments.