Digital Business Models: Doing Business in the Digital Era

Abstract

In this digital era, incorporating changes at the business model level becomes a must. Exploiting the digital capabilities by firms is the only way to avoid disruption, to outdo the competition and to answer the changing customer needs. In this respect, digital business models come as a new frame for firms to create and capture a new kind of value, adapted to this era. This paper is an attempt to broaden the literature review about the concept of digital business models. We started by defining the concept of business models, its origins and the peculiarities that characterize the digital ones. We conducted after a systematic literature review, through which, 108 articles have been analyzed in order to extract the patterns that shape the digital business models. Our finding shows that customer experience, data, strategy, innovation, platforms, competition and content are the most important components of digital business models. The article concludes with the proposition of a new and suitable canvas to use in order to craft a digital business model.