Conceptualizing and explaining the pattern of business model adaptation in the ICT industry

Organizations do not operate in a vacuum but are part of a large ecosystem that is affected and impacted. Changes in the business environment such as changes in rules, competition, new technologies require that the business model of the organization be adapted to these conditions. Therefore, to remain competitive in today's competitive market, organizations need to identify the environmental drivers that affect the business model, and on the other hand, create the dynamic capabilities needed for business model adaptation. The purpose of this study is to identify and explain the business model adaptation and identify the influential environmental drivers and dynamic capabilities needed for business model adaptation. For this purpose, the ICT industry has been studied and using Multi grounded theory, data analyzed from systematic literature review over the past 15 years, and interviews with 18 industry experts, which are improbably and purposefully selected using the snowball method. Finally, a model was developed in which environmental drivers affecting business model adaptation into six groups of "political", "legal", "economic", "market", "technological", "social", and "competitor factors" and the dynamic capabilities needed to adapt the business model of the ICT industry into the four groups of "External observation and evaluation", "Internal resource renewal", "External resource acquisition" and "Internal resource reconfiguration" have been conceptualized. Also, business model adaptation has been conceptualized into three groups: "value proposition adaptation", "value creation adaptation" and "value capture adaptation".