Making business models

Abstract

Well-established companies are currently struggling to secure profits due to the pressure from new players' business models as they take advantage of communication technology and new business-model configurations. Because of this, the business model research field flourishes currently; however, the modelling approaches proposed still rely on linear, rational conceptions and causal reasoning. Through six business cases we argue that participatory design has a role to play, and indeed, can lead the way into another approach to business modelling, which we call business model making. The paper illustrates how the application of participatory business model design toolsets can open up discussions on alternative scenarios through improvisation, mock-up making and design game playing, before qualitative judgment on the most promising scenario is carried out.