Business Model Innovation in the Mining Equipment Technology and Services Sector

This research project seeks to promote and facilitate business model change and innovation across METS firms by investigating successful business model configurations in the METS sector. The research is conducted in partnership with QUT’s Centre for METS Business Innovation (CMBI).

The project will generate industry reports and flyers, presentation of findings in a range of regional and industry workshops, and scientific publications on business model change and innovation in the METS and mining sectors.

The project is proceeding across three stages:

1. Design of a fit-for-purpose business model framework to study business model types, changes and performance effects within the METS sector.
2. National survey on METS business model innovation developing a taxonomy of models and metrics for associated relative performance. (Delivery September 2019)
3. Design and delivery of an online benchmarking and strategy development tool allowing METS companies to compare and assess their existing business model configurations. This is supported by a comparison of performance metrics and business model features and tools to enhance business model change strategies. (Delivery February 2020)

Project benefits

This 18-month research partnership project will provide:

• A national snapshot of METS business model innovation
• Articulated change drivers and key business model elements for increased operational and corporate efficiency
• An online benchmarking and data collection tool for METS businesses
• Guidance for supporting successful business model change