Business model innovation

From InnovationManagementWiki

Business model innovation refers to those innovations which are not product or process oriented, but rather find new ways of creating and appropriating value. The business model is a construct which basically describes 1) the value proposition, 2) who the customer is, 3) the value created for the customer and 4) how this value is appropriated. A business model innovation can therefore be thought of as a change along any of those dimensions without necessarily changing the product or the technology itself.