Figure 1
The flowchart depicts the process of business model innovation, highlighting the roles of sensebreaking and sensemaking. The process begins with the existing product logic, which includes a product-centered mindset, value captured through sale, and OEM-focused relationships. The first stage, destabilizing, involves distinguishing features and business models, together with the development of a prioritization matrix. This leads to the reframing stage, where SWOT analysis, business model canvas, and triple-layered business model canvas are used. The final stage, stabilizing, involves creating a business plan that incorporates service and data-enabled offerings, recurring and usage-based revenues, and multi-actor relationships, leading to a new business model logic.Business model tools as cognitive mediators in business model innovation. Source(s): Authors' own work