Business model innovation in the context of crisis: a qualitative longitudinal analysis

The Covid-19 pandemic highlighted the challenges firms face in engaging in business model innovation (BMI) during a crisis. To better understand how and why entrepreneurial firms undertake BMI during periods of uncertainty this study employs a novel methodology to systematically identify how firms shift their business model by using qualitative longitudinal data based on 229 interviews with 85 high-growth British entrepreneurs. The findings suggest three core archetypes of BMI in crisis: crisis response, crisis enablement, and planned innovation. Each archetype is underpinned by specific drivers and processes that explain why and how BMI occurred.