Business Model Innovation in Platform-Based Enterprises: A Case Study of Grab in Thailand

Abstract

This study explores how platform-based enterprises innovate their business models in local markets, focusing on Grab in Thailand. The primary objectives are to identify the fundamental components of Grab’s business model within the Thai digital economy and to analyze the internal and external factors driving innovation in its business strategy. Utilizing a quantitative survey of 400 consumers and service providers, the research evaluates these dimensions. Findings indicate that Grab's core components—a "super app" integrating ride-hailing, food delivery, and digital payments—are strongly recognized by users. Furthermore, internal drivers for operational efficiency and external factors such as changing customer behaviors and technological advancements significantly propel Grab’s strategic adaptations. The study concludes that navigating external environments while continuously optimizing internal multi-sided platform components is critical for sustained competitive advantage.