Business Model and Business Model Innovation of the Free Zones in the United Arab Emirates: A Qualitative Approach
If a business model (BM) summarizes how a business creates and captures value, then it can be argued that business model innovation (BMI) refers to innovating one or more elements of a BM. This article explores both BM and BMI of the Free Zones (FZs) in the United Arab Emirates. Overall, BMI in FZs tend to be of limited complexity. Most of them are the result of changes, in one or more parts of the model, with rare spillover effects on the rest of the model. Moreover, noteworthy innovative models tend to be open.