Why do some young firms change their business models while others do not? Why do some firms make small changes, while others make more substantial changes? And does industry context matter? Drawing on organizational learning theory and utilizing a unique database tracking 187 young firms through the first decade of the mobile health industry, we examine the role of customers in young firms' business model adaptation. We find a positive impact of customer portfolio breadth (capturing the number and diversity of customers) on both the likelihood and degree of business model change. Importantly, industry segment maturity moderates this relation: customer effects are strongest in the earliest, most uncertain stages. Our study provides a rare view into how a new industry and its young ventures co-evolve.

中文翻译：

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客户关系和行业细分成熟度对新兴行业商业模式适应的影响

为什么一些年轻的公司改变了他们的商业模式，而另一些却没有？为什么有些公司会做出微小的改变，而另一些公司会做出更大的改变？行业背景重要吗？借鉴组织学习理论并利用独特的数据库跟踪移动医疗行业前十年的 187 家年轻公司，我们研究了客户在年轻公司商业模式适应中的作用。我们发现客户组合广度（捕捉客户的数量和多样性）对商业模式改变的可能性和程度都有积极影响。重要的是，行业细分成熟度缓和了这种关系：客户效应在最早、最不确定的阶段最为强烈。我们的研究提供了一个罕见的视角来了解一个新行业及其年轻企业如何共同发展。