7. Experiential Applications in Business Model Innovation in Aviation

The business model, which is depicted as bringing together all the activities of the firms in components and making all the elements work in harmony, is seen as essential. Although not all firms have a business model, firms that have established a business model gain an advantage by adding more value than their competitors. This chapter has focused on business model innovation in the aviation industry. The chapter aims to design a business model that can create an advantage in the aviation industry and also provides experiential applications of business model innovation to avoid imitation by competitors and ensure the sustainability of the advantage gained. In this context, this chapter has included the definition of the business model concept, the difference between business model and competitive strategy, the creation of a successful business model, the ability of a business model to provide competitive advantage, the well-known business model classification in the aviation industry, and the business model innovation and its applications in the aviation industry. As a result, once the success of the business model has been confirmed, it should have the ability to be innovated based on the value created, the collaborations established, the problem solution that improves consumers’ lives, the technology developed, and innovation. In this way, the business model that alters the standards in the industry and the way of doing business will increase both competitive advantage and firm performance.