This element explains the role of the CEO in maintaining and updating the internal selection environment and contributing to organizational evolution, as well as making fundamental decisions about organizational splits of the firm's business models as an ecosystem evolves.

Despite increasing interest in business model innovation (BMI), there is only limited scholarship that examines how business model (BM) innovators present and explain their innovations to various stakeholders. As BMI often involves the creation of a new ecosystem, understanding how innovators...