Situated in between the two opposite epistemological interpretations of BMs as attributes of real firms and cognitive-linguistic schema, is the interpretation of BMs as formal, conceptual representations ( Teece, 2010). Indeed, the advancements in digital technologies require new digital activities to be developed by companies, and, in particular, new ways to configure those activities for value creation, proposition and capturing, which are the sources of firms' growth and performance ( Sohl et al., 2018).Ĭreating, proposing and capturing value are the three main components of a firm's BM – a structural template that describes the story of how an organization works, as a cognitive linguistic schema ( Magretta, 2002) or as attributes of real firms ( Casadesus-Masanell and Ricart, 2010). The DT process refers to the increasing adoption of digital technologies within firms' operations, transforming physical processes into digital ones ( Kohli and Melville, 2019). Theoretical background 2.1 Business model innovation driven by DT Finally, we conclude the paper, highlighting implications for theory and practice, and future research paths. We then present the main findings and discuss them. Then, we provide the research methodology, data collection and analysis. In the next section, we present the theoretical background of BMI driven by the DT in MC. Based on longitudinal data from the leading MCFs, our findings illustrate how MCFs innovate their BM to offer DT solutions. To answer the question, we conduct a qualitative study by collecting and analyzing data from the major international MCFs in Europe. As MCFs are the engine of management innovation and the main actors in promoting DT, this paper aims to answer the following research question: How do MCFs innovate their BMs to provide DT consulting services effectively? Understanding the changing nature of their BM in the DT is a highly relevant question for management studies that this paper aims to address.
One notable exception is Anand et al.'s (2007) seminal work on the emergence of new practices in MCFs, but their contribution is far from a comprehensive picture of BMIs in MCFs with no reference to DT. Moreover, it is somehow paradoxical that recent BMI literature has examined new ventures ( Snihur and Zott, 2020) or focused on cultural and creative industries ( Landoni et al., 2020) but remains salient on MCFs that are the leading players in introducing BMIs in other client firms across different industries. However, our understanding of how MCFs innovate their business models (BMs) is limited, especially concerning the current DT ( Cerruti et al., 2019). The role of MCFs as agents of innovation and knowledge brokers has been extensively investigated in the literature (see, for example, Anand et al., 2007). Since 2015, consulting related to DT – or “technology-driven consulting” – is the fastest-growing management consulting (MC) service line in Europe ( FEACO, 2019). Their service offering includes strategic advisory for decision-making in planning and executing new technologies for business practices ( FEACO, 2015). As highlighted by the European Federation of Management Consultancies Associations (FEACO), MCFs are supporting organizations in assessing their information technology (IT) strategies to reach a fit between technology and business strategy. MCFs are playing a predominant role in enabling digital transformation (DT). Management consulting firms (MCFs) play a central role in the diffusion of management innovation ( Birkinshaw et al., 2008) and business model innovations (BMIs) across different industries ( Osterwalder and Pigneur, 2010).
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