The EC-LQO five-factor framework: An alternative lens for business model innovation in highly knowledge-intensive industries

Growing technological complexity continues to drive firms to interact with the external innovation environment to achieve firm success. However, industries' complexities and the business model concept's underlying ontology have limited research on modeling the key factors that enable this interface. In this study, results of an empirical analysis of a unique dataset of 102 biopharmaceutical companies broadly support the EC-LQO five-factor framework as a useful tool to guide business model innovation for highly knowledge-intensive environments.