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Thriving in the New Normal: The HR Microfoundations of Capabilities for Business Model Innovation. An Integrated Literature Review.

Loon, M, Otaye, L and Stewart, J (2020) Thriving in the New Normal: The HR Microfoundations of Capabilities for Business Model Innovation. An Integrated Literature Review. Journal of Management Studies. ISSN 0022-2380

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Abstract

Firms need to respond to the increasing competition and change of the current New Normal environment by being more innovative, and especially in developing new business models. This paper seeks to explore how microfoundations, particularly with respect to human resource management, play a key role in facilitating innovation in business models through the development of key needed capabilities. Four themes are identified with respect to business model innovation (BMI) in the New Normal: BMI as an enabler to create and operate across industries and product-markets; BMI as a mechanism for firms to better navigate changing institutional landscapes; BMI as giving rise to business model portfolios; and concurrent and cumulative innovations that can lead to BMI. This paper also develops a conceptual framework that presents a synoptic view of the five essential capabilities for BMI, which include analogical reasoning, sensemaking, dynamic capabilities, organisational ambidexterity, and organisational learning. Finally, it is shown how the microfoundations of a bespoke, development-oriented BMI HR architecture can support the advancement of these capabilities and thus contribute to the strategic HR literature.

Item Type: Article
Additional Information: This is the peer reviewed version of the following article: Loon, M., Otaye‐ Ebede, L. and Stewart, J. (2020), Thriving in the New Normal: The HR Microfoundations of Capabilities for Business Model Innovation. An Integrated Literature Review. J. Manage. Stud.. Accepted Author Manuscript. doi:10.1111/joms.12564, which has been published in final form at https://doi.org/10.1111/joms.12564. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions
Uncontrolled Keywords: 1503 Business and Management, 1505 Marketing
Subjects: H Social Sciences > HF Commerce > HF5001 Business
Divisions: Business & Management (new Sep 19)
Publisher: Wiley
Date Deposited: 07 Feb 2020 12:11
Last Modified: 07 Feb 2020 12:15
URI: http://researchonline.ljmu.ac.uk/id/eprint/12220

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