A dynamic business model for Turkish techno parks: looking through the lenses of service perspective and stakeholder theory

Abstract

PurposeThe purpose of this paper is to analyze the business model of techno parks (TPs) in Turkey and shed light on the value co-creation in TPs in the light of the service perspective and stakeholder theory.Design/methodology/approachIn this conceptual paper, a generic business model canvas for Turkish TPs has been elicited based on an in-depth review of the literature. Then, the functioning of the model and the nature of value co-creation have been viewed through the lenses of service perspective and stakeholder theory, and then the relationships and flows between the components of the business model have been visualized with a dynamic model.FindingsThe institutional environment leads Turkish TPs to have similar business models with functional differences. The value is co-created by stakeholders in TPs and value co-creation depends on the skills, competencies and cooperative efforts of all actors involved in the functioning of the business model.Practical implicationsThis paper provides insight for TP management companies to improve their business models, for policymakers to refine institutional framework to enable effective functioning of TPs and for stakeholders to understand their role in value co-creation.Originality/valueThis paper provides a dynamic framework and a model for understanding business models of TPs and the value co-creation process, which is an understudied area, especially in a developing country context. It also extends the business model and value co-creation literature in the context of TPs by integrating multiple theoretical perspectives.