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The Business Model: Recent Developments and Future Research

Published on Jul 1, 2011in Journal of Management 9.06
· DOI :10.1177/0149206311406265
Christoph Zott15
Estimated H-index: 15
(University of Navarra),
Raphael Amit38
Estimated H-index: 38
(UPenn: University of Pennsylvania),
Lorenzo Massa2
Estimated H-index: 2
(University of Navarra)
Cite
Abstract
This article provides a broad and multifaceted review of the received literature on business models in which the authors examine the business model concept through multiple subject-matter lenses. The review reveals that scholars do not agree on what a business model is and that the literature is developing largely in silos, according to the phenomena of interest of the respective researchers. However, the authors also found emerging common themes among scholars of business models. Specifically, (1) the business model is emerging as a new unit of analysis; (2) business models emphasize a system-level, holistic approach to explaining how firms “do business”; (3) firm activities play an important role in the various conceptualizations of business models that have been proposed; and (4) business models seek to explain how value is created, not just how it is captured. These emerging themes could serve as catalysts for a more unified study of business models.
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  • References (99)
  • Citations (1577)
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References99
Newest
Published on Jan 1, 2011in Entrepreneurship Theory and Practice 6.19
Gerard H. Gaynor45
Estimated H-index: 45
(Imperial College London),
Adam J. Bock6
Estimated H-index: 6
(Edin.: University of Edinburgh)
While the term “business model” has gained widespread use in the practice community, the academic literature on this topic is fragmented and confounded by inconsistent definitions and construct boundaries. In this study, we review prior research and reframe the business model with an entrepreneurial lens. We report on a discourse analysis of 151 surveys of practicing managers to better understand their conceptualization of a business model. We find that the underlying dimensions of the business ...
Published on Apr 1, 2010in Long Range Planning 3.36
Alfonso Gambardella39
Estimated H-index: 39
,
Anita M. McGahan33
Estimated H-index: 33
This article describes a business model that is growing in prevalence and that carries novel implications: the development of general-purpose technologies for licensing to downstream specialists. In their archetypical format, these general-purpose technologies are constructed in ways that can be employed by different potential downstream licensees, and can accommodate their different strategies. This strengthens the hand of innovative firms in the rising markets for knowledge-based assets, and c...
Published on Apr 1, 2010in Long Range Planning 3.36
Marc Sosna3
Estimated H-index: 3
,
Rosa Nelly Trevinyo-Rodríguez1
Estimated H-index: 1
,
S. Ramakrishna Velamuri11
Estimated H-index: 11
How does an established organization innovate its business model, which is still contributing revenues and profits, but whose future effectiveness is likely to be undermined by changes in its external environment? We study the antecedents and drivers of business model innovation in a Spanish dietary products business threatened by economic recession and heightened competition resulting from liberalization. We document the evolution of the firm's new retail-market business model in two distinct p...
Published on Apr 1, 2010in Long Range Planning 3.36
Henry Chesbrough44
Estimated H-index: 44
Companies commercialize new ideas and technologies through their business models. While companies may have extensive investments and processes for exploring new ideas and technologies, they often have little if any ability to innovate the business models through which these inputs will pass. This matters - the same idea or technology taken to market through two different business models will yield two different economic outcomes. So it makes good business sense for companies to develop the capab...
Published on Apr 1, 2010in Long Range Planning 3.36
Yves L. Doz28
Estimated H-index: 28
,
Mikko Kosonen4
Estimated H-index: 4
Strategic discontinuities and disruptions usually call for changes in business models. But, over time, efficient firms naturally evolve business models of increasing stability - and therefore rigidity. Resolving this contradiction can be made easier by developing three core meta-capabilities to make an organization more agile: strategic sensitivity, leadership unity and resource fluidity. This article reviews the underlying determinants of these capabilities, based on detailed research undertake...
Published on Apr 1, 2010in Long Range Planning 3.36
Rita Gunther McGrath29
Estimated H-index: 29
The business model concept offers strategists a fresh way to consider their options in uncertain, fast-moving and unpredictable environments. In contrast to conventional assumptions, recognizing that more new business models are both feasible and actionable than ever before is creating unprecedented opportunities for today's organizations. However, unlike conventional strategies that emphasize analysis, strategies that aim to discover and exploit new models must engage in significant experimenta...
Published on Apr 1, 2010in Long Range Planning 3.36
James D. Thompson6
Estimated H-index: 6
,
Ian C. MacMillan41
Estimated H-index: 41
This thought piece proposes a framework for addressing the challenges of poverty and human suffering so widespread around the world. Based on the WSWP action research program, we suggest that visionary businesses can play a role in creating new business models that open up new markets, and simultaneously attend to societal wealth improvements. This framework should be of great interest to global firms intent on creating new markets for their own futures. One of the critical problems managers fac...
Published on Apr 1, 2010in Long Range Planning 3.36
Christoph Zott15
Estimated H-index: 15
,
Raphael Amit38
Estimated H-index: 38
Building on existing literature, we conceptualize a firm's business model as a system of interdependent activities that transcends the focal firm and spans its boundaries. The activity system enables the firm, in concert with its partners, to create value and also to appropriate a share of that value. Anchored on theoretical and empirical research, we suggest two sets of parameters that activity systems designers need to consider: design elements - content, structure and governance - that descri...
Published on Apr 1, 2010in Long Range Planning 3.36
Silviya Svejenova14
Estimated H-index: 14
,
Marcel Planellas6
Estimated H-index: 6
,
Luis Vives6
Estimated H-index: 6
This article extends the study of business models by exploring a type rarely considered – the individual business model – and investigates the set of activities, organizing, and strategic resources individuals employ to create and capture value while pursuing their interests and motivations. Insights are drawn from an in-depth longitudinal inductive case study to examine the triggers, mechanisms and changes in the evolving individual business model developed by chef and gastronomic innovator Fer...
Published on Apr 1, 2010in Long Range Planning 3.36
Charles Baden-Fuller29
Estimated H-index: 29
,
Mary S. Morgan26
Estimated H-index: 26
Drawing on research undertaken in the history and philosophy of science, with particular reference to the extensive literature which discusses the use of models in biology and economics, we explore the question ‘Are Business Models useful?’ We point out that they act as various forms of model: to provide means to describe and classify businesses; to operate as sites for scientific investigation; and to act as recipes for creative managers. We argue that studying business models as models is rewa...
Cited By1577
Newest
Published on Jan 1, 2020
Vesna Damnjanović4
Estimated H-index: 4
(University of Belgrade)
Published on Jan 1, 2020
Mirela-Cătălina Turkeș (Dimitrie Cantemir Christian University), Dan Ioan Topor3
Estimated H-index: 3
+ 1 AuthorsDana Maria Constantin1
Estimated H-index: 1
(UB: University of Bucharest)
Published on Jan 1, 2020
Michal Halaška (Silesian University), Roman Šperka4
Estimated H-index: 4
(Silesian University)
Business models raised on popularity in recent years among both researchers and practitioners. However, operational research in the area of business modelling is limited, especially regarding business processes. Greater focus is nowadays put on strategic layer and other perspectives of business models. Thus, the aim of the paper is to implement business model in the form of messaged multi-agent system at the operational layer with process perspective as building block of the model. This approach...
Published on Jan 1, 2020
Adrian Tantau4
Estimated H-index: 4
(Bucharest University of Economic Studies),
Robert Staiger
Published on Dec 1, 2019in International Journal of Information Management 5.06
Marko Niemimaa3
Estimated H-index: 3
(Information Technology University),
Jonna Järveläinen6
Estimated H-index: 6
(UTU: University of Turku)
+ 1 AuthorsJukka Heikkilä11
Estimated H-index: 11
(UTU: University of Turku)
Abstract Company business models are vulnerable to various contingencies in the business environment that may unexpectedly render their business logic ineffective. In particular, technological advancements, such as the Internet of things, big data, sharing economy and crowdsourcing, have enabled new forms of business models that can effectively and abruptly make traditional business models obsolete. By disrupting or even diminishing companies’ revenue streams, environmental contingencies may pre...
Peter Trkman23
Estimated H-index: 23
(University of Ljubljana)
Abstract Despite major changes in the environment, the business models of business schools have not experienced much change. Methods of teaching and research remain similar to 30 years ago. This paper focusses on the underlying reason for the inertia by investigating the implicit value proposition of business schools. It first reviews past literature on the value of business schools and then attempts to explain additional, often neglected, value propositions of teaching and research. The paper a...
Muhammad Anwar5
Estimated H-index: 5
(IIUI: International Islamic University, Islamabad),
Syed Zulfiqar Ali Shah5
Estimated H-index: 5
(IIUI: International Islamic University, Islamabad)
+ 1 AuthorsMuhammad Sualeh Khattak1
Estimated H-index: 1
(IIUI: International Islamic University, Islamabad)
Rapid changes in the external environment and dynamic markets have challenged the survival of every kind of organizations. Many business firms fail due to lack of managerial skills and an ineffective business model to adjust their operations in line with the competitive environment. This study examines the influence of owners and top managers’ “Big Five” personality traits on business model innovation. Data were collected through structured questionnaires using a sample size of 343 owners and se...