Abstract:    In the era of Internet economy, business model innovation has become one of the strategic tools to promote industrial upgrading and realize enterprise redevelopment. The research on the path of business model innovation has attracted wide attention, but there are few studies on the path of failure learning to business model innovation. This study aims to establish a relationship model between failure learning, knowledge management, environmental dynamics and business model innovation, and empirically test the model by collecting data through questionnaires. Based on the empirical learning theory and resource dependence theory, from the perspective of knowledge management and environmental dynamics, this paper discusses the impact of failure learning on business model innovation, the mediating effect of knowledge management and the moderating effect of environmental dynamics.
    This study mainly adopts the mature scale of domestic and foreign scholars in variable measurement. The measurement of failure learning is based on the four questions of Yu Xiaoyu and Cai Li on the organizational level of failure learning. The measurement of knowledge management refers to the scales of Islam & Doshi, Jansen & Van den Bosch and Shenkar & Li, with a total of 12 items. The measurement of environmental dynamics refers to the three items used in the study of environmental dynamics scale by Jansen and Van den Bosch. The measurement of business model innovation draws on the classic scale of Zott and Amit to measure business model innovation, which has four items. All items were scored by Likert-5. The main survey objects of this research are high-tech enterprises. A total of 215 valid data are collected, and empirical research is carried out by hierarchical regression and Bootstrap methods.
   The study finds that: (1) Failure learning significantly promotes business model innovation, and knowledge management plays a partial mediating role in the relationship between failure learning and business model innovation. Possible explanations are as follows: Firstly, business model innovation is inseparable from the accumulation of knowledge, and the heterogeneous knowledge obtained from failed learning becomes a unique source of knowledge for enterprises, increasing the breadth of knowledge acquisition and enabling enterprises to break through cognitive limitations; Secondly, the simple stacking of scattered knowledge fragments obtained from failure learning cannot become the core resource advantage of enterprises, and it is difficult to trigger innovation. Only through the deep integration and absorption of knowledge, and the full and organic integration of old and new knowledge, we can achieve knowledge optimization and generate new knowledge to promote business model innovation. Finally, the knowledge acquired by failure learning improves the sensitivity of enterprises to business model innovation opportunities, and can stimulate knowledge creation, thus breaking through the original business model pattern and effectively promoting business model innovation. (2) Environmental dynamics plays a moderating role between knowledge integration and business model innovation, and environmental dynamics has a moderating mediating effect in the impact of “failure learning-knowledge integration-business model innovation”. Compared with low environmental dynamics, under the moderating effect of high environmental dynamics, knowledge integration has a greater impact on business model innovation, and failure learning has a greater impact on business model innovation through knowledge integration. The possible explanation is that when the environment is highly dynamic, companies quickly form a knowledge integration system that adapts to the environment, timely understand external market information, master new technologies, carry out knowledge integration activities, and promote business model innovation. Moreover, under the high environmental dynamics, companies pay more attention to the heterogeneous knowledge resources obtained from failed learning, and then carry out knowledge integration activities in a timely manner, respond to environmental changes, quickly make business model adjustments, and achieve business model innovation.

Key words: business model innovation, failure learning, knowledge management, environmental dynamics