This paper systematically organizes, analyzes and summarizes the research literature on business model innovation in the context of digital transformation at home and abroad, and comprehensively, objectively and accurately demonstrates the various perspectives of the research on enterprise business model innovation in the context of digital transformation in terms of the theoretical basis of business model innovation, the driving elements of business model innovation, the combination of elements and the path of innovation, aiming at exploring the future research direction of enterprise business model innovation in the context of digital transformation and proposing the future research direction of business model innovation in the Chinese context and the digital context. It aims to explore the direction of future research on enterprise business model innovation under the background of digital transformation and puts forward the future research direction of business model innovation in the Chinese context and digitalization context.

Cuncun Sun, Xingxing Xu, Zihao Long. Review and Prospect of Business Model Innovation Research. Academic Journal of Business & Management (2023) Vol. 5, Issue 21: 206-215. https://doi.org/10.25236/AJBM.2023.052130.

[1] Ghezzi A, Cavallo A. Agile Business Model Innovation in Digital Entrepreneurship:Lean Startup Approaches [J]. Journal of Business Research, 2020, 110:519-537

[2] Dong Zhao. Research on the influence of digital capability of new enterprises on business model innovation [D]. Changchun: Jilin University, 2021. 

[3] Teece D J. Explicating Dynamic Capabilities: the Nature and Microfoundations of (Sustainable) Enterprise Performance [J]. Strategic Management Journal, 2007, 28(13):1319-1350. 

[4] Ding Yue. A study on the influence of business model on business value [D]. Beijing Jiaotong University, 2023. DOI:10. 26944/d. cnki. gbfju. 2022. 001003. 

[5] Wu Lin. Research on the influence and action mechanism of value co-creation on enterprise performance [D]. And East China Normal University, 2023. DOI:10. 27149/d. cnki. ghdsu. 2022. 003797. 

[6] Shuai Zhang. Research on the process and path of digital business model innovation of entrepreneurial enterprises [D]. Dalian University of Technology, 2023. DOI:10. 26991/d. cnki. gdllu. 2022. 003632. 

[7] Rebiya Turxun, Luo Junmei, Zhao Yajuan, etc. Progress and trends of supply chain innovation at home and abroad—comparative analysis based on CiteSpace [J]. Journal of Xichang College (Natural Science Edition), 2021, 35(04):10-18. DOI:10. 16104/j. issn. 1673-1891. 2021. 04. 003. 

[8] Wu Xiaohui, Qin Libin, Bo Wen. How can customer strategic alliance stimulate enterprise innovation?—Empirical evidence based on text analysis [J / OL]. Nankai Management Review: 1-18 [2023-09-06]. http://kns. cnki. net/kcms/detail/12. 1288. F. 20230720. 0924. 002. html. 

[9] Guo-Peng X , Peng-Jie Z .Business Model Innovation:Theoretical Review and Construction of Analytic Framework[J].Commercial Research, 2011.

[10] Fei L , Sixue J , Jiaying W .Key Element and Path of Business Model Innovation for China's Retail Enterprises:Case Study on Pang Dong Lai[J].Technology Economics, 2015.

[11] Meng Xiaobin, Wang Zhongming, Yang Jianfeng. Summary of the theoretical model of enterprise dynamic ability [J]. Foreign Economy and Management, 2007 (10): 9-16. 

[12] Wu Jiang, Chen Haodong, Chen Ting. Analysis of the path of digital transformation of small and medium-sized enterprises [J / OL]. Journal of Xinjiang Normal University (Philosophy and Social Sciences Edition): 1-12 [2023-09-06]. https://doi. org/10. 14100/j. cnki. 65-1039/g4. 20230823. 001. 

[13] Wang Bingcheng, Fu Xiaohui, Cui Wei. How can business model ideas be applied smoothly?— The intermediary role of dynamic ability under the regulation of enterprise innovation culture [J]. Journal of University of Jinan (Social Science Edition), 2021, 31 (05): 134-144 + 175-176. 

[14] Meng Tao, Zhao Feifei, Zhang Bingchao. Enterprise digital transformation, dynamic capability and business model adjustment [J]. Economics and Management, 2021, 35 (04): 24-31. 

[15] Chen Chunhua, Julie, Liu Chao, et al. Collaborative symbiosis theory: a new management paradigm in the digital age [J]. The Foreign Economy and Management, 2022, 44(01):68-83. DOI:10. 16538/j. cnki. fem. 20211206. 101. 

[16] Dorra Yahiaoui H C , Philipson S .Radical innovation of a business model[J].Competitiveness Review An International Business Journal Incorporating Journal of Global Competitiveness, 2016, 26(2):132-146.DOI:10.1108/CR-06-2015-0061.

[17] Ramdani B, Binsaif A, Boukrami E. Business model innovation: a review and research agenda[J]. New England Journal of Entrepreneurship, 2019, ahead-of-print(ahead-of-print).DOI:10.1108/NEJE-06-2019-0030.

[18] Penrose, E. T. The Theory of the Growth of the Firm. Oxford University Press, 1959. 

[19] Wernerfelt, B. A Resource-based view of the firm. Strategic Management Journal, 1984, 5(2):171-180. 

[20] Sirmon D G, Hitt M A, Ireland R D, et al. Resource orchestration to create competitive advantage: Breadth, depth, life cycle effects[J]. Journal of management, 2011, 37(5): 1390-1412. 

[21] Wang Yan, Chen Chaoran, Cai Jialin, etc. A win-win mechanism for enterprises to fulfill their social responsibility from the perspective of resource arrangement—Case based on the practice of hematopoietic poverty alleviation in Guangyao Baiyun Mountain [J / OL]. Accounting communication: 1-12 [2023-09-06]. https://doi. org/10. 16144/j. cnki. issn1002-8072. 20230725. 001. 

[22] Liu Yongjun, Long Jing, Liu Ruhong, etc. How big data capabilities drive enterprise innovation: [J / OL]. Scientific and technological Progress and countermeasures: 1-9 [2023-09-06]. http://kns. cnki. net/kcms/ detail/42. 1224. G3. 20230717. 1725. 018. html. 

[23] Zhu Xiumei, Lin Xiaoyue. Enterprise digital transformation value chain remodeling mechanism —— A longitudinal case study from Huawei Group and Midea Group [J / OL]. Scientific and technological progress and countermeasures: 1-12 [2023-09-06]. http://kns. cnki. net/kcms/ detail/42. 1224. G3. 20220830. 1654. 012. html. 

[24] Cai Li, Peng Xiuqing, Satish Nambisan, et al. Review and perspectives of entrepreneurial ecosystem research [J]. Journal of Social Sciences of Jilin University, 2016, 56(01):5-16+187. DOI: 10. 15939/j. jujsse. 2016. 01. 001. 

[25] Fang Qifeng, Xiang Yongsheng. Motivation, paths and types of business model innovation: theoretical review and integrated analysis framework [J]. Corporate economy, 2022, 41(10):76-84. DOI:10. 13529/j. cnki. enterprise. economy. 2022. 10. 008. 

[26] Lu Kun, Yu Zhiyong, Li Beiwei. The integration elements and integration process of technology innovation and business model innovation of digital enterprises [J]. Science and Technology Management Research, 2022, 42 (16): 119-131. 

[27] Tong Ziqiang, Li Pengxiang, Yang Lei, etc. The impact of the matching of business model innovation and technology innovation on the performance of latecomer enterprises—comes from the empirical study of text analysis of annual report [J]. Scientific and technological Progress and Countermeasures, 2022, 39 (11): 84-93. 

[28] Yu Dengke, Yan Ying. The interaction relationship between technological innovation and business model innovation and the interactive effect on the competitive advantage of enterprises [J]. Scientific and technological Progress and Countermeasures, 2019, 36 (11): 16-24. 

[29] Wahyono W .Business model innovation: a review and research Agenda[J].Emerald Publishing Limited, 2019(4).DOI:10.1108/jibr-12-2017-0251.

[30] Peng Zhenglong, He Peixu, Li Ze. Dual marketing ability balance, strategic position advantage and the performance of new high-tech service enterprises [J]. Management Science, 2015, 28 (03): 115-129. [J]. Management Science, 2015, 28 (03): 115-129. 

[31] Chen Jin, Yang Yang, Yu Junbo. Review and Outlook of Research on Business Model Innovation [J]. Soft Science, 2022, 36(04):1-7. DOI:10. 13956/j. ss. 1001-8409. 2022. 04. 01. 

[32] Li Wen, Xu Hui, Mei Lei. Research on business model innovation mechanism of manufacturing enterprises under the background of digital transformation—empirical analysis based on fsQCA [J]. Accountingcommunication, 2022(10):102-107+114. 

[33] Shang Yanying, Jiang Junfeng. Business model innovation path of traditional manufacturing enterprises in the era of industrial Internet [J]. Management Review, 2021, 33(10):130-144. DOI:10. 14120/j. cnki. cn11-5057/f. 2021. 10. 012. 

[34] Tian Hong, Tian Jiahui, Zhang Yaqiu. Customer participation in value co-creation, customer knowledge transfer and enterprise dual innovation [J]. Scientific and technological Progress and Countermeasures, 2022, 39 (08): 121-130. 

[35] Brettel M, Strese S, Flatten T C. Improving the performance of business models with relationship marketing efforts—An entrepreneurial perspective[J]. European Management Journal, 2012, 30(2):85 - 98. 

[36] Casadesus-Masanell R, Ricart J E. From strategy to business models and onto tactics[J]. Long RangePlanning, 2010, 43(2/3):195 - 215. 

[37] Snihur Y, Zott C. The genesis and metamorphosis of imprints:how business model innovation evolves inyoung firms[J/OL]Academy of Management Proceedings, 2018[2022-03-31]. https://doi. org/ 10. 5465/AMB⁃PP. 2018. 15882abstract

[38] Velter M G E, Bitzer V, Bocken N M P, et al. Sustainable business model innovation:the role of boundary work for multi-stakeholder alignment[J/OL]Journal of Cleaner Production, 2020, 247[2022-03-31] https://doi. org/10. 1016/j. jclepro. 2019. 119497. 

[39] Stubbs W. Strategies, practices, and tensions in managing business model innovation for sustainability:the case of an Australian BCorp[J]. Corporate Social Responsibility & Environmental Management, 2019, 26(5):1063 - 1072. 

[40] Oskam I, Bossink B, De Man A. Valuing value in innovation ecosystems:how cross-sector actors overcome ten⁃sions in collaborative sustainable business model development[J]. Business & Society, 2021, 60(5):1059 - 1091.