Abstract
As the only constant in business is change, business transformation is essential for adopting new perspectives and business trends. One of the keys to performing successful business transformation is to be fully aware of the current components of the business model. This research aims to allocate the business model components (BMCs) to defined business model components groups (BMCGs) by developing a new approach that integrates fuzzy sets and heuristic algorithms. The allocation results enable a comprehensive analysis of business model frameworks and give a good connection to research in the domain of strategic management and business process modeling. For allocation, the decision-makers (DMs) are employing the linguistic terms modeled by the fuzzy sets theory. The considered problem is stated as an integer programming model where the optimal solution is given by a B&B algorithm. The model is tested on a sample of forty experts from four different economic sectors.
Highlights
During the last decades, defining business models has become a very important issue in the domain of business and management since a lot of scholars believe that a company’s business can be presented through a business model. e term business model (BM) has been described by many authors appointing that it covers the architecture of product flows, services, and information, including the description of different business entities and their roles, as well as a description of potential benefits for different business entities and a description of the source of income [1]
The hybrid model, which integrates panel discussion, fuzzy sets theory, Integer Linear Programming (ILP), and Branch-and-Bound algorithm, is presented. e proposed methodology is presented in Figure 1 for one of four business model components groups (BMCGs) defined by [4], which is explained in Section 3.2. e methodology is repeated for each BMCG
By applying the criteria filtering technique, 59 business model components (BMCs) that are mostly used in literature have been identified
Summary
During the last decades, defining business models has become a very important issue in the domain of business and management since a lot of scholars believe that a company’s business can be presented through a business model. e term business model (BM) has been described by many authors appointing that it covers the architecture of product flows, services, and information, including the description of different business entities and their roles, as well as a description of potential benefits for different business entities and a description of the source of income [1]. BMs are used for determining the structure, relations, and success factors of an organization. Ey can serve as generators of competencies, especially in terms of rapid changes in the market. BMs describe how marketable information, products, and/or services are generated utilizing a company’s value-added component. In addition to value creation, different components are taken into consideration to achieve generating and securing the competitive advantage. Five different perspectives of this term can be found: business model activities, business model logics, business model archetypes, business model alignment, and business model components (BMCs) [2]. BMCs perspective is taken by authors who propose structuring BM based on its essential components to capture the important parts of the business and to create the operational framework. Several studies have investigated various definitions and lists of BMCs [3,4,5]
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