What does business model (BM) innovation cover, and what is its consequences for the market?

New entrants often create new business models to ‘disrupt’ an industry, i.e. they change the dynamics of value creation, value delivery, and value capture. If it works, they own the superior positions in the new order (e.g. Uber, Spotify, etc.). But note: BM innovation is as old as business itself: Ford ‘disrupted’ automobile production; Dell entered the PC and laptop industry in the 1990s by direct selling instead of via middlemen c.f. HP, IBM, etc Awareness of new tech capabilities is often the key to business model innovation.