Firms increasingly face challenges caused by changes in their environment like shifts in custom-er preferences, the development of new (digital) technologies, or threats by new, disruptive business models (BM). Firm survival and achieving long-term success often require a firm’s reaction to these challenges. Therefore, firms mostly engage in and initiate strategic change like business model innovation (BMI), a dynamic process that alters strategies, structures, and iden-tities and involves various actors. Due to the ...