Applying design thinking for business model innovation

• Published in: Journal of innovation and entrepreneurship Vol. 11; no. 1; pp. 1 - 25
• Main Author: You, Xinya
• Format: Journal Article
• Language: English
• Published: Heidelberg Springer 01.12.2022; Springer Berlin Heidelberg; Springer Nature B.V; SpringerOpen
• Subjects: Business and Management; Business model innovation; Business models; Design methodology; Design processes; Design thinking; Design Thinking: Challenges and Opportunities; Economic Geography; Economic Policy; Entrepreneurship; Innovations; Mindset; Review; Business model innovation; Design processes; Mindset; Design methodology; Design thinking
• ISSN: 2192-5372; 2192-5372
• DOI: 10.1186/s13731-022-00251-2

In recent years, there has been an increasing interest in using design thinking for business model innovation. However, few studies have explored the application, potential and challenges of design thinking from a comprehensive perspective. In order to better understand how design thinking can contribute to business model innovation, this paper regards business model innovation as a subject of design research and provides a critical review of researchers' explorations of how to apply design thinking for business model innovation. In light of the literature review, this paper distils seven key design research themes: (1) design thinking as a mindset and a methodology; (2) designers of business models; (3) design activities for business model innovation; (4) design tools for business model innovation; (5) design approaches for business model innovation; (6) co-creation of new products, services and business models, and (7) evaluating and measuring the impact of design thinking. The themes not only highlight the potential of applying design thinking as a necessary mindset and methodology to business model innovation, but also emphasise the nature of designing as a social process.