Managing co-creation in innovative business models: the case of sharing economy

The aim of this paper is to evaluate different well-established non-electrical storage markets (gas, frozen food and cloud storage) in order to identify relevant lessons for electrical energy storage (EES) connected to the electricity distribution networks. The case studies that have been evaluated are Centrica Storage (gas storage), Google Drive (cloud storage) and Oakland International (frozen food storage). A specific business model methodology has been selected for comparing the different business model components across these sectors. The methodology (following Johnson et al., 2008) refers to key interconnected components: customer value proposition, the revenue formula, key resources and key processes. The evaluation of the three case studies suggests that well-developed business models already exist in growing and mature storage markets. Regulation also plays an important role across the different storage markets and business model components, how-ever its importance varies depending on the type of market. Innovation in storage business models is also observed (technological and contractual) which should be also facilitated in EES. Innovation helps move markets towards more sustainable business models.

Aim: In the era of mobile internet, live marketing has become a new business model for network marketing, and is a product of the interactive integration of new technology and marketing activities in the new era.Method: Based on the business model theory, combining the value creation process, using live streaming platforms such as Taobao, Tiktok, Jingdong and Amazon as examples, and adopting a qualitative analysis method, the business model elements and innovation paths of live marketing are analyzed.Findings: The research found that: (1) The live marketing model has new integrated features and new values. The combination of technical system integration and marketing activities is a hotbed for live marketing;(2) Based on the anchors influence and audiences attractiveness as the classification criteria, live broadcast sellers can be divided into super sellers, famous sellers, ordinary sellers and low-level sellers. It is a new classification proposed for the first time, which provides important evaluation contributions for understanding and distinguishing the different categories of live broadcast sellers; (3) Based on the business model canvas, this article finds that the business model innovation of live marketing illustrates the nine elements logical relationship of the business model, value proposition is the key-hub linking other elements. The business model innovation of live marketing also follows the basic laws of value creation, that is, from value proposition to value creation to value transmission, and finally to value acquisition;(4) The business model innovation path of live marketing is also the path of value rebuilding, which increasing value is the essence of the sustainable development of business model innovation.Implications/Novel Contribution: Therefore, these new findings can help non-live broadcast marketers transform their marketing concepts and methods, and improve their sales capabilities. The analysis of the business model innovation and value creation of live marketing reveals the essence of live marketing, and the mechanism of value co-creation between sellers and customers, which this research also creatively proposes its innovation model and value creation process from the perspective of the relationship between business model and value creation. Finally, the article is not in-depth study of its relationship business model innovation and value creation from the perspective of explicit knowledge and tacit knowledge.

Business model innovation (BMI) allows firms to rethink the mechanisms of value creation and proposition and capture in order to adapt to the ever‐changing environment and increase competitive advantage. Despite already innovative compared to the incumbents, sharing economy platforms also feel the need to continuously innovate their business model (BM) to ensure their survival. However, these platforms are often studied under a static perspective, focusing on the outcome of the innovation rather than on the process underlying it. The purpose of the paper is to unveil the process of BMI in the already innovative BM of sharing economy platforms, focusing on the different degrees this innovation can take place. In so doing, a mixed‐methods was applied, clustering a sample of 72 sharing platforms, and completing the results with a qualitative analysis on a subsample of those. What this research demonstrates is that sharing economy platforms do feel the need to innovate their BM just as strongly as incumbents, giving rise to an innovation‐in‐the‐innovation that fills the gap between the process‐ and the outcome‐oriented interpretations of BMI. The four identified clusters shed light on the different forms of BMI that happen in sharing economy platforms.

BackgroundOn-demand telemedicine is increasingly adopted by health organizations to meet patient demand for convenient, accessible, and affordable services. Little guidance is currently available to new entrant organizations as they consider viable business models and strategies to harness the disruptive potential of on-demand telemedicine services (in particular, virtual urgent care clinics [VCCs] as a predominant and catalyst form of on-demand telemedicine).ObjectiveWe recognized on-demand telemedicine as a disruptive technology to explore the experiences of early adopter organizations as they launch on-demand telemedicine services and deploy business models and strategies. Focusing on VCC service lines, this study addressed the following research questions: (1) what is the emerging business model being deployed for on-demand telemedicine?; (2) what are the core components of the emerging business model for on-demand telemedicine?; and (3) what are the disruptive business strategies employed by early adopter organizations as they launch on-demand telemedicine services?MethodsThis qualitative study gathered data from 32 semistructured phone interviews with key informants from 19 VCC early adopter organizations across the United States. Interview protocols were developed based on noted dissemination and implementation science frameworks. We used the constant comparison method to transform study data into stable dimensions that revealed emerging business models, core business model components (value proposition, key resources, key processes, and profit formula), and accompanying business strategies.ResultsEarly adopters are deploying business models that most closely align with a value-adding process model archetype. By and large, we found that this general model appropriately matches resources, processes, and profit formulas to support the disruptive potential of on-demand telemedicine. In total, 4 business strategy areas were discovered to particularly contribute to business model success for on-demand disruption among early adopters: fundamental disruptions to the model of care delivery; outsourcing support for on-demand services; disruptive market strategies to target potential users; and new and unexpected organizational partnerships to increase return on investment.ConclusionsOn-demand telemedicine is a potentially disruptive innovation currently in the early adopter stage of technology adoption and diffusion. On-demand telemedicine must cross into the early majority stage to truly be a positive disruption that will increase accessibility and affordability for health care consumers. Our findings provide guidance for adopter organizations as they seek to deploy viable business models and successful strategies to smooth the transition to early majority status. We present important insights for both early adopters and potential early majority organizations to better harness the disruptive potential of on-demand telemedicine.

With the advent of meager profit age in globalized economy, demographic dividends have disappeared along with rising energy costs. As such, traditional chemical enterprises are impacted by technological and digital innovation. Besides, increasing competitive pressure has led many enterprises to shift their production to focus onto low-cost areas. Therefore, it is critical if enterprises can continue to survive with sustainable developments by improving business profits. To this end, this study has explored the business model development of a chemical company. The business model comprises of customer value proposition, key resources, key processes and profit model. The study aims to appreciate the business model development, strategic choice, and future trend of the case from the initial stage, innovation stage, and to expansion stage. As found in the study, the case that triggers the development of its business models has placed emphasis on the key resources and key processes in the initial stage. In the innovation stage, the case that emphasizes profit orientation has created and upheld high profits as well as rapid growth and innovation. Finally, the case that stresses customer value proposition has strived towards the goal of factory integration and profit sharing in the expansion stage.

Innovative and sustainable business models in the fashion industry: Entrepreneurial drivers, opportunities, and challenges

Platforms and the Sharing Economy: An Analysis EU H2020 Research Project Ps2Share: Participation, Privacy, and Power in the Sharing Economy, 2017

Industrial manufacturers are innovating their business models by shifting from selling products to selling outcome‐based services, where the provider (manufacturer) guarantees to deliver the performance outcomes of the products and services. This form of business model innovation requires a profound yet little understood shift in how value is created, delivered, and captured. To address this research gap, our study examines two successful and four unsuccessful cases of this shift. We find that effectiveness in business model innovation hinges on the three process phases that unfold in collaboration with the customers: value proposition definition, value provision design, and value‐in‐use delivery. We also find that that success is determined by the alignment of specific value creation and value capture activities in each phase: identifying value creation opportunities—agreeing on value distribution in value proposition definition, designing the value offering—deciding on the profit formula in the value provision design, and finally refining value creation processes—regulating incentive structures in the value‐in‐use delivery. Our process model contributes to the literature and practice on business model innovation by providing a thorough understanding of how alignment of value creation and value capture processes is ensured, whilst paying special attention to their interdependence and the interactions between provider and customer.

It is argued in most academic literature that Business Model (BM) is a general model for how any business runs or should be run, it is the "blueprint of the business". Conversely we argue that no business has just one BM, one model on which it runs all its business or intends to run its business. In other words the BM can be used for "as-is" and the "to-be" businesses. However our research, in contrast to the other BM frameworks, indicates that businesses have more BMs - both "as-is" and "to-be" BMs - the multi business model approach. This was already theoretically indicated by Markides and Charitou in 2004, and again in the Casadesus-Masanell and Ricart model of 2010, but sadly no one in the BM community has followed up on this since then. It could have made a breakthrough in our understanding of BMs, Business Model Innovation (BMI) and Strategic BMI. The Multi Business Model Innovation Approach addresses the concerns in the BM community and in BMI practice to just focus on the ideation and conceptualization of BMs. "BM canvassing", innovating BM building blocks or BM dimensions when carrying out BMI, so-called "blind business model innovation", is not sufficient to run and understand a business today. BMs and BMI must address all the different levels in a business. All BMs are objects to BMI and should be used to maximize the performance and sustainability of the business. The core business and all levels BMs, such as BM dimension components, BM dimensions, BM portfolio, and Business Model Ecosystem (BMES), should all be considered for BMI. The book addresses and documents a gap in BM research and the BM community - but also proposes a generic definition and language of a BM and BMI layers. The significance and importance of this work is related to significant and unexplored possibilities that BMI offers today, and can offer tomorrow. When we thoroughly understand all levels, dimensions and components of the business and its business models, and we are able to communicate, work and innovate with business models at all levels together, then a next step in BM and BMI research and practice can be taken. It is proposed that any BMs are related to seven dimensions- value proposition, user and/or customer, value chain functions (internal), competence, network, relations and value formulae. It is further proposed that seven different levels of a BMI from the most detailed level - the BM dimension component - to the BM dimension, BM, BM portfolio, business, and the vertical and horizontal business model ecosystem layer - and these can be objects to BMI. Conceptually, the Business Model Cube was formed using the seven dimensions which could be used both in a 2D and a 3D version.

In recent years, Internet finance has become a trend in the future devel-opment of the financial industry due to its high efficiency and high coverage. The integration of green finance and the Internet makes resource allocation more reasonable and solves some difficulties in the development of green finance, but at the same time it puts forward higher requirements for the business models. As one of the main products of “Internet Green Finance” practice, Ant Forest fully demonstrates the innovation of the business model derived from “Internet Green Finance”. This study explores the feasibility of this business model by analyzing the business model of ant forest from four aspects: customer value proposition, profit model, key resources and key processes, and then provides a reference for the innovation of other business models under “Internet Green Finance”.

Crowdsourcing, as a new business model, can effectively reduce the cost of enterprises, stimulate public participation's passion and enable enterprises to obtain multi-channel innovation. From the point of view of business model, Crowdsourcing can effectively improve the enterprise's overall value proposition, value creation, value transfer and value network construction. Although nowadays Crowdsourcing is widely applied across industries, it is still imperfect in implementing at a practical level, especially when adapt it to fit for different industries. This paper focuses on (1) the identification of key components in an innovative business model, and (2) discussion on how to create an innovative Crowdsourcing business model, which forms a framework for developing Crowdsourcing business models at different levels of detail such as types of industries, types of platforms and types of tasks.

유한한 전파자원을 효과적으로 활용하기 위해서는 전파자원을 활용한 유망 비즈니스 모델을 발굴, 평가하고, 이에 기반하여 구체적인 기술 개발 계획과 산업 활성화 정책을 수립하는 것이 필요하다. 본 연구는 미래 전파 활용 유망 분야를 탐색하여 성공 가능성이 높은 유망 비즈니스 모델을 설계하고, 제시된 비즈니스 모델의 사업화 타당성을 평가하며, 비즈니스 모델의 활성화를 위한 정책을 논의하는 것을 목표로 한다. 지역 또는 시간적으로 사용되지 않는 TV 채널인 TV 유휴 대역을 대상으로 분석하였으며, 이는 최근 지상파 TV 방송의 디지털 전환에 따라 핵심적인 전파자원으로 부각되고 있다. 연구 결과, 방송형과 통신형을 비롯한 네 가지 비즈니스 모델이 도출되었으며, 각 비즈니스 모델을 고객 가치, 이익 공식, 핵심 자원, 핵심 프로세스 등 4가지 관점에서 고찰하고, 기술성, 사업성, 수용성 측면에서 사업화 타당성을 평가하였다. 또한, TV 유휴 대역을 활용한 비즈니스 모델의 활성화를 위한 정부 및 사회 구성원의 과제를 논의하였다. To fully utilize scarce spectrum resource, it's necessary to develop and evaluate promising business models prior to making technology R&D plan and industrial promotion policy. The purpose of this paper is to design potential business models, evaluate the propriety of commercializing the models, and discuss promotion policies after exploring promising sectors consuming spectrum resources. The research is based on TV white space, which is vacant TV channels in region or time domain and considered as core spectrum resource along with digital terrestrial television switchover. As the result, four kinds of business models were derived, including broadcasting and telecommunication types. Each model was discussed from four standpoints: customer value proposition, profit formula, key resources, and key processes, and the propriety for commercialization was evaluated by three dimensions: technological evaluations, business-oriented evaluations, and user-oriented evaluations. The promotion policies of government and market participants for the activation of TV White space-based business models were discussed as well.

In the scientific literature business models are defined as architecture of the value creation, profit formula, key processes and key resources. For the oil industry there is a need to develop new business models that have to describe the specificity of this industry and to take into consideration the new objectives after the global oil crisis. Although crude oil price has dropped dramatically since second quarter 2014, OPEC raised crude output to the its highest value in more than three years as it pressed on with a strategy to protect market share and pressure competing producers. The objective of this article is to identify and promote new business models for state companies in the oil industry. The research methodology is based on case studies that present and analyze the business models in two of the main oil producers Iran and Iraq, where the state companies are playing an important role in this industry. The subject is relevant because the business models for state companies in the oil industry have to be modified after the oil crisis and these are not real analysed in the scientific literature. Furthermore, the aspects discussed in the current article represent the main factors that will influence investment prospects of companies in the field in the next decade.

Business model innovations in China: A focus on value propositions

Over the last decades, business model innovation and effectuation have been widely discussed in the literature. While effectuation represents a behavioural approach for entrepreneurs using available means for founding a start-up, business model innovation represents an approach to creating a business model with long-term competitive advantages. Designing a business model requires to focus on four dimensions: customer, value proposition, value chain and revenue mechanism. A business model innovation is referred to when an innovative characteristic can be attributed to two of the four dimensions. Both effectuation and business model innovation are valuable for entrepreneurs who are pursuing growth in dynamic and uncertain business environments. This paper elaborates on effectuation and its potential effects on business model innovation. The addressed research questions are: Is the effectuation logic a facilitating aspect of business model innovation? And to what extent do entrepreneurs apply effectuation logic and design innovative business models? The underlying data consists of business plans of 25 finalists of a Swiss innovation competition with more than 100 startups from different business sectors every year. First, the chosen sample is reviewed on the extent of the application of effectuation based on selected behavioural criteria. Second, the sample is analysed for evidence of business model innovation based on the above-mentioned business model dimensions and their innovative potential. Third, the link between the two approaches is highlighted to gain insights into the potential influence of the applied decision logic to develop innovative business models, thus providing an understanding of how entrepreneurs could leverage the advantages of effectuation in the context of innovating the business model. Further research will focus on examining critical success factors of entrepreneurial behaviour in the applied business model types and their correlations with business performance.