Enabling business model innovation - a study on the development of dynamic capabilities in academic spin-off companies in Hong Kong

Professional Doctorate - Doctor of Business Administration (DBA)University spin-off companies perform a pivotal role in commercializing research, facilitating transfer of knowledge and technology to industries, and contributing to regional economic growth. This qualitative study explores, analyzes and compares the strategy developments of three academic spin-off companies in Hong Kong, on how they sustain competitive advantages, and what roles dynamic capabilities and business model innovations play for these companies. The research methodology adopts a constructivist paradigm, an exploratory research design, using a case study approach for collecting primary data through semi-structured interviews, and applying a multiple case studies method for analysis and comparisons. This study serves to help filling in a potential gap in the strategy and entrepreneurship literature, where interests in studying the phenomenon of links between dynamic capabilities and business model innovations at the firm level have just only recently emerged. The need for investigation is especially relevant given the lack of research in this direction for academic spin-off companies in Hong Kong. This study will enhance understanding of academic spin-off company’s ability to orchestrate on-going re-configuration of resources and capabilities effectively with business model changes to engage opportunities in Hong Kong and other foreign markets. Findings suggest that a company’s strategy will determine the business model. The spin-off company will grow over time and nurture the appropriate bundle or configuration of dynamic capabilities to support the chosen business model. However, companies need to reconfigure their business models, and reconfigure their dynamic capabilities that will in turn reconfigure (adding, transforming, unbundling and recombining, sun-setting or omitting through obsolescence) the full or part of the set of current operational capabilities, so as to move its business model to another level or dimension to overcome the dynamic environment of volatilities and uncertainties