Today’s profound environmental dynamics render it increasingly difficult for firms to sustain business models with returns above the industry average. Business model innovation aims to seize a new opportunity by crafting the right new business model. It offers firms a path back to high returns and profitable growth. However, risk aversion and organizational rigidities may immobilize established industry players. Martin Trapp employs an explorative multiple-case study covering large European corporations to identify management practices. These practices support business unit managers in successfully realizing business model innovation and, together, establish a deliberate, strategic-level management approach.    Contents Definition of business model innovation in established firms Placing business model innovation into the arena of corporate entrepreneurship A conceptual business model innovation process model Business model innovation management practices for business unit managers   Target Groups Researchers and students in the fields of strategic management, corporate entrepreneurship and innovation management Business-unit and corporate-level managers in established firms   The Author Martin Trapp conducted his doctoral research on business model innovation at the Chair of Industrial Management headed by Professor Kai-Ingo Voigt at the Friedrich-Alexander-University of Erlangen-Nuremberg.  .