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This study aims to capture organizational transformation by delving into the process of business model (BM) reconfiguration in small firms operating within low-tech industries. It seeks to uncover the specific BM components that enabled a traditional less volatile and smaller organizations to adapt and innovate. We offer some recommendations in the form of insights for practitioners and other firms facing similar challenges.

We analyzed the history of a small firm belonging to a low-tech industry. Applying a single case study allowed us to explore organizational transformation in depth over time and identify the essential elements in the process of changing the BM. The analysis was performed using the procedural approach, with narratives, visual maps and temporal staggering.

The small firms went through many changes that resulted in BM reconfiguration at the organizational and industrial levels. The role of partners was relevant in this process, as well as organizational flexibility and more adaptable planning to make the necessary changes over time. The findings demonstrate the dynamism of the BM, with the prioritization of changes in organizational resources and capabilities, in order to adapt to the external environment, over time to create and capture value in a low-technology-intensive sector.

This study contributes a novel perspective to the field of Business Model Innovation (BMI) by highlighting the dynamic nature of BM in the under-explored area of small-scale enterprises of non-technology-intensive sectors. It emphasizes the critical role of serendipity, ambidexterity, pivoting, partnerships, adaptive planning and financial process organization in achieving sustained value creation and capturing value in the evolving external environments.