Business Models Of Firms Research Articles

Blockchain: Exploring its Impact on the Business Models of Australian Accounting Firms

AbstractThis paper reports on a study that investigated how the business models of Australian accounting firms are impacted by audit clients using blockchain technology. Semi-structured interviews with a range of stakeholders including audit partners from big-4 accounting firms reveal that firms are gradually adapting their business models by offering value propositions that involve efficiency, complementarities and novelty, despite a formative blockchain ecosystem in Australia. This ecosystem is characterized by clients’ reluctance to use blockchain platforms for financial systems and a lack of clear direction on applicable accounting standards and consensus on blockchain standards and governance.

Business model redesign through effectual action in times of crisis

ABSTRACT This paper explores why and how some small firms rapidly redesign their business models, while others wait for environmental turbulence to subside. Using multiple case studies, we analyzed changes made to 28 business models by 26 Australian firms, two months after the first COVID lockdown. We discover effectual action patterns utilized as firms redesigned their business models. Three key findings shed light on how effectuation drive entrepreneurial action, first we uncover how framing and entrepreneurial reframing plays a critical role in the contingency effectuation principle. Second our findings show that resources at hand is a necessary, but not sufficient condition for business model redesign. Third partnering, experimentation and affordable loss in combination is most strongly related to small firm business model innovation. Our proposed effectual action framework contributes to the effectuation literature, addressing calls to examine the underlying mechanisms and dynamics that explain effectual action and business model redesign.

Characteristics of Present Women-Owned Family Businesses in Vietnam: Present Condition and Policy Ideas

Purpose: The purpose of this essay is to study the business model and nature of women-owned firms in Vietnam today. Methodology:This article explores the characteristics of women-owned household businesses using secondary documentary data. The paper is based on a feminist approach to the Cedaw convention, to which Vietnam is a party. Equality rights, including gender equality, are entitled to access and assess the business activity of Vietnamese firms owned by women and legal representatives. Results: The essay discusses the current condition, possibilities, and challenges for female entrepreneurs in Vietnam. Feminist advances have not been able to close the stigma and reservations about women's mastery in society, especially business. Meaning/Value: The article claims that women's social position is improving, that they are truly emancipated, and that their work potential is being promoted. In addition to perks and possibilities, female workers frequently confront challenges and impediments, particularly in the fields of labor and employment. The article suggests various techniques for women to develop more substantial and sustainable enterprises.

Business Models of Chinese Firms Impacted by the Crisis Based on Case Studies

The Covid-19 pandemic has hit businesses extremely hard. Because of reduced social contact, many business models (BMs) have been limited, and some have become unviable. In the current external crisis, timely BM changes are crucial for more effective responses to challenges of critical importance. Based on the resource-based view theory, this study adopts a multi-case study approach to investigate the core competencies demonstrated by firms in different industries in adjusting to the external environment. Integrating and adapting existing BMs to form new BMs presents significant differences in operational outcomes between firms. This study focuses on the response and development of firm crisis management during the Covid-19 pandemic. Successful BM can enable firms to survive the crisis and even achieve improvement in the crisis. In addition, this paper distinguishes between business model innovation (BMI) and business model adaptation (BMA) at the theoretical and substantive levels, mainly from the perspective of firm value, including value proposition, value creation, value capture and value transfer, to differentiate between BMI and BMA. This study explains the impact of various BM changes on sustainable firm profitability and value through a detailed collection of media and company official reports. The emphasis on strategic flexibility has positively impacted firm BMs and value, which has implications for providing insights into companies’ long-term development.
 
 Received: 15 November 2023 / Accepted: 9 February 2024 / Published: 5 March 2024

Institutional logics and organizational filters: Differential responses to innovation and environmentalism in China’s cleantech sector

While the institutional logics perspective has been applied to explore various empirical contexts, less is known about how different organizations respond differentially to the pressures that are imposed by logics. We investigate how different organizational attributes moderate institutional logics differently by using a proprietary dataset of venture capital and private equity (VC/PE) investment in cleantech startups in China. We first delineate two distinct logics—market and proenvironmental—that shape VC/PE investment across different regions. Moreover, we identify two organizational attributes—state ownership and business model—which moderate the two logics differently. Whereas the business model of venture investment firms (VC vs. PE) effectively resonates with the market logic, state ownership fails to make a firm more attentive to either of the logics. We contribute to the logics perspective by complementing our understanding of organizational filters, showing the relationships between two distinct logics and cleantech investment, and extending the study of logics to authoritarian contexts.

Strategic orientation for Chinese firms in the digital economy: a business model process formalization perspective

ABSTRACT The widespread use of digital technologies has reshaped the resources and capabilities of firms, and changed the logic of value creation in their business models. Digitalization formed by relying on digital technologies, such as artificial intelligence, big data, and blockchain, has brought new opportunities and challenges to the business models of Chinese manufacturing firms. Based on the two types of strategic orientation (market orientation and entrepreneurial orientation), this paper investigates the relationship between market orientation (MO), entrepreneurial orientation (EO), and firm performance and the mediating effect of business model process formalization (PF). The study constructs the multiple paths of strategic orientation driving firm performance, and conducts an empirical test using a sample of 369 Chinese firms. The findings are as follows. (1) Both MO and EO can effectively improve firm performance, and the interaction term of the two orientations also has a positive effect on firm performance. (2) There are three different mediation paths for strategic orientation to improve firm performance: ‘MO→PF→firm performance’, ‘EO→PF→firm performance’, and ‘the interaction term of the two orientations→PF→firm performance’. (3) Among these three pathways, the indirect effect of ‘MO→PF→firm performance’ is the largest with an indirect effect of 12.29%, which is significantly larger than the effect of the other two pathways. These findings not only enrich the theories related to MO and EO, but also provide various options and management implications for Chinese firms to effectively carry out strategic orientation practices to implement business models in line with the digital economy.

Subscription-based business models in the context of tech firms: theory and applications

PurposeThis study analyzes how tech firms can implement the modern wave of subscription-based business model (SBBM), including value proposition, value creation, value capture and performance. In fact, these elements push tech firms to move from traditional to SBBMs.Design/methodology/approachTo achieve the objectives of this study, we initially construct a theoretical framework for applying SBBM. Subsequently, we employ qualitative research to examine the current implementation of the subscription-based economy within tech firms.FindingsA successful SBBM necessitates capturing value through sustainable revenue transactions and revising aspects of the value proposition, creation and capture. Continuous improvement through business value analysis is imperative. Additionally, an agile operations system is vital to address revenue complexities, enable data collection and enhance value proposition, service innovation, churn rate and customer retention, which are essential for SBBM maintenance.Originality/valueThis study delves into how the subscription-based economy is reshaping the business models of tech firms. Beyond exploring the theoretical foundation of this transformative path, this study offers actionable insights on enhancing the value proposition, creation, capture and business value within subscription-based economy frameworks.

The Controversy over Proxy Voting: The Role of Fund Managers and Proxy Advisors

In this statement, we assess the role and power of proxy advisors and asset managers in corporate governance in a market that is characterized by a limited number of voting advisory firms (Institutional Shareholder Services and Glass Lewis) and a growing dominance of index investing concentrated in a few large asset managers, such as BlackRock, Vanguard, and State Street. We discuss the business model of proxy advisory firms and contrast its objectives with those of asset managers in the context of the informational screening/filtering role and voting analysis and conclude with a set of policy recommendations addressing transparency and regulatory oversight.

Circular economy practices and corporate social responsibility performance: the role of sense-giving

ABSTRACT The circular economy (CE) has recently emerged as an innovative business model for firms to transform corporate social responsibility (CSR) into actions. Existing research tends to examine the CSR advantages of short-term CE practice adoptions, remaining silent on the benefits and drivers of their long-term implementation. This study fills the gaps by investigating the impact of the long-term adoption of eco-design (ECO) and reverse logistic (RL) practices on firm CSR performance and exploring the moderating roles of four sense-giving activities. Using a balanced panel dataset of 132 manufacturing public firms in China and a fixed-effects model, we find that: 1) the frequency of ECO and RL practice adoptions significantly improves firm CSR performance; 2) goal setting for CE performance, CE education and training, and employee feedback on CE practices positively moderate the RL-CSR relationship, while employee feedback on CE practices positively moderates the ECO-CSR relationship. This study has significant implications for both research and practice in the increasingly important domains of CE and CSR management.

The Influence of Digitalization on The Family Firm Business Model

The Influence of Digitalization on The Family Firm Business Model

The Impact Of a Firm's Business Model Change on Its Competitiveness: From Atlasjet to Atlasglobal

This study scrutinized the business model change of Atlasglobal, having operated in the Turkish airline industry, and attempted to explain in what direction the change affected the firm's financial performance along with its competitive practices. First, the study focused on the change occurring over time to explain the impact in question. Then, we explained the change with the help of the case analysis method within qualitative research design, while a quantitative approach was employed to reveal the impact of the change on the firm success. The results uncovered that the firm's financial performance decreased after the business model change. On the other hand, we concluded that marketing and promotional moves increased financial performance more than other types of moves, while capacity moves reduced the performance compared to others.

Emerging Key Elements of a Business Model for Sustaining the Cultural and Creative Industries in the Post-Pandemic Era

In this article, the challenges that cultural and creative industry (CCI) firms face in forming sustainable business models—issues heightened by the ongoing COVID-19 pandemic and the evolving consumer patterns that it has triggered—are addressed. The goal of this study was to identify a set of unique key elements crucial for the construction of a business model that aligns with the distinct characteristics of CCIs. To achieve this goal, an in-depth, long-term study using semi-structured interviews with proprietors in Eastern Taiwan was conducted. This region is home to unique, small-scale cultural and creative businesses and represents less than 5% of Taiwan’s population. The semi-structured, in-depth interviews served as the data collection method, while content analysis was used for data interpretation. This approach allowed the current study to encapsulate a set of key elements that could inform the creation of a business model for CCI firms. The insights gathered by the study provide a robust framework for the development of sustainable CCI business models, offering valuable guidance for both existing businesses seeking to adapt and grow and new entrepreneurs entering the industry. This research also aims to stimulate further scholarly debate on the importance of a tailored, multidisciplinary business model for CCIs, given their unique needs and characteristics.

Integrating the natural environment into tourism firms' business model for sustainability.

The link between the business model (BM) and sustainability is recognized in tourism research and practice, especially as far as its socioeconomic consequences are concerned. Moreover, prior studies have highlighted some key factors influencing the sustainable business models (SBMs) of tourism firms but have mainly done so by adopting static perspectives. Thus, how these firms can contribute to sustainability through their BMs with positive effects, particularly on natural resources, remains overlooked. Thus, we adopt coevolutionary lenses to explore the main processes surrounding tourism firms' SBM. Coevolution conceives the firm-environment relationship as both circular, with mutual influence and reciprocal changes, and dialectical. Accordingly, we analyze 28 Italian agritourism firms during the COVID-19 pandemic emergency period focusing on the dynamics of their relationship with various multilevel actors (including institutions, local communities, tourists) by considering internal and external factors influencing their SBM. The dialectical nature of this relationship is stressed. We find three new factors: sustainable tourism culture, tourist loyalty, and local natural resource setting. Moreover, from the coevolutionary analysis of the findings, we derive a framework that conceptualizes agritourism SBMs as a virtuous coevolutionary process through effective coadaptations between multilevel actors influenced by 12 factors. Tourism entrepreneurs and policy-makers should carefully consider the factors influencing SBMs and try to act upon them to effectively organize and manage relationships of mutual functionality in light of current challenges, especially environmental concerns.

Competitive Digital Strategic Model of Amazon - A Case Study Analysis

Purpose: We continue our investigation into the origins of business models and look at how the business models of new firms originate by integrating institutional and restriction theories. Design: Amazon's business models are studied following the deductive and inductive approaches. Inductive: by checking the assumptions and coming to a conclusion, Deductive: by checking the theories and proving the hypothesis. Objective: To find out the competitive digital strategies of Amazon, that could be learned and copied for other organizational applications. Findings/Result: The findings show that there are several consumer complaints and service issues about Amazon's influence, notably in regard to pricing, customer service, in-store staff, and post-purchase support. The paper claims that Amazon's development and profitability have been greatly aided by business strategies combining technology, distribution networks, and customer service. These tactics have also assisted Amazon in differentiating itself from its competitors in the brick-and-mortar and online retail industries. Originality/Value: The business model as well as the SWOT analysis presented may be used by organizations to assess and narrow down their options for a business modeling platform. This case study work is original and would help researchers to do further study accordingly. Paper Type: Case study.

Does adhering to the principles of green finance matter for stock valuation? Evidence from testing for (co-)explosiveness

We use a test for co-explosiveness to improve our understanding of the effects of green finance on the valuation of stocks. First, by testing against temporary explosiveness in the MVIS Global Coal Index, the NASDAQ OMX Green Economy Index, and the MSCI World Equity Index, we find evidence for explosive periods in the latter two time series. Second, we use a recently proposed econometric procedure to test for co-explosivity of the jointly explosive variables, i.e., the NASDAQ OMX Green Economy Index and the MSCI World Equity Index. The test results indicate co-explosive behavior. The MVIS Global Coal Index, on the other hand, shows completely different time series properties. Assuming that there is no speculative bubble, the theory of corporate finance suggests that this empirical finding should be a result of differences with regard to risk premia demanded by investors buying the respective stocks and (respectively or) expected future corporate earnings of the firms examined here. More specifically, the existence of higher risk premia and pessimistic expectations regarding future corporate earnings should suggest that investors are looking at the business models of firms that are included in the MVIS Global Coal Index with at least a certain degree of skepticism. Thus, our results imply that not adhering to the principles of green finance perhaps might be more important for the stock market valuation of firms than adhering to it.

Business Modeling Innovation Using Artificial Intelligence Technology

Startups embracing artificial intelligence (AI) as a component of their business models are quickly emerging right now. The application of AI technology in business has been going on for a while, even though recent research reveals that new or alternative business models are being implemented.It might be claimed that AI technology has been used to business models for a very long time, which puts into question the uniqueness of these business models. In order to better understand how AI companies' business models may differ from traditional IT business models, this study compares them to each other. The first step is to create a taxonomy of business models for AI businesses using a sample of 162 Worldwide Stratup, from which four archetypal business models are derived: Deep technology researcher, data analytics supplier, AI product and service provider, and facilitator of AI development The following are three main elements of startup business models for AI firms that are discussed based on this descriptive analysis: (1) new value propositions made possible by AI, (2) Various uses of data to create value and (3) How AI technology affects general business reasoning. By defining their key purposes, common instantiations, and distinguishing features, this research adds to our fundamental understanding of the AI start-up business model. This study suggests intriguing directions for further investigation in the field of entrepreneurship. À It is structured to foster entrepreneurial activity. Taxonomies and models are actually instrument.

Business Modeling Innovation Using Artificial Intelligence Technology

Startups embracing artificial intelligence (AI) as a component of their business models are quickly emerging right now. The application of AI technology in business has been going on for a while, even though recent research reveals that new or alternative business models are being implemented.It might be claimed that AI technology has been used to business models for a very long time, which puts into question the uniqueness of these business models. In order to better understand how AI companies' business models may differ from traditional IT business models, this study compares them to each other. The first step is to create a taxonomy of business models for AI businesses using a sample of 162 Worldwide Stratup, from which four archetypal business models are derived: Deep technology researcher, data analytics supplier, AI product and service provider, and facilitator of AI development The following are three main elements of startup business models for AI firms that are discussed based on this descriptive analysis: (1) new value propositions made possible by AI, (2) Various uses of data to create value and (3) How AI technology affects general business reasoning. By defining their key purposes, common instantiations, and distinguishing features, this research adds to our fundamental understanding of the AI start-up business model. This study suggests intriguing directions for further investigation in the field of entrepreneurship. À It is structured to foster entrepreneurial activity. Taxonomies and models are actually instrument.

Business models for sustainability and firms' external relationships—A systematic literature review with propositions and research agenda

AbstractIncreased focus on sustainability has made firms' value creation increasingly boundary spanning and complex. This begs the question of how business model research describes firm's external relationships, motivating us to undertake a systematic literature review. In analyzing 49 articles, we discuss and problematize four conceptualizations of external relationships—collaboration, alliances, networks, and ecosystems—arriving at nine propositions that clarify their meaning and refer to either firm‐centric or collective business models for sustainability. In combining these findings with review results from conventional business model research we identify three main blind spots in extant business model for sustainability research, regarding coopetition, wider inter‐organizational and sustainability tensions, and power. Based on these blind spots, we sketch a research agenda that could theorize business models for sustainability without neglecting their inherent tensions and contradictions.

Integrating ESG Pillars for Business Model Innovation in the Biopharmaceutical Industry

The study explores critical factors that impact the Business Model of Biopharmaceutical firms and assess how ESG pillars can aid in Business Model innovation. Semi-structured personal interviews were conducted in face to face meetings with experienced industry professionals from cross-functional domains to attain diverse insights. The objective was to explore the relevance of ESG factors and their interplay, during Business Model Innovation from the perspective of experts in the Biopharmaceutical industry. Analytical Hierarchy Process (AHP) – a structured approach is applied to understand the criticality of various factors in sustainable business models. The study revealed that special emphasis should be laid on the Business Model and Governance Pillar – for re-designing innovative and sustainable business models. Social and Environment factors, although important, were rated lower on priority as such issues are usually focused upon by organizations at a higher level of maturity, after the basic hygiene factors are met. Some of the factors which were prioritized for Business Model innovation are Patient Health and Safety, Ethical marketing and advertising, Waste/ Effluent Management, Employee Health, Safety and Wellness, Patient value propositions, Building strategic resources and competencies, Product Quality & Safety and Business ethics and competitive behavior. Integrated reporting is another value-added dimension that was stressed by the respondents, to have a seamless and transparent communication channel established with all stakeholders. Aligning business metrics with ESG metrics is the focal point of this study, and the impact of each pillar on Biopharma Business Models was evaluated by industry experts. Integration of ESG parameters for Business Model Innovation is the new mantra for forward looking companies, and this study would help frame strategies for the Biopharma industry for sustainable value creation. The impact created by Business Model Innovation at an industry level will help create value for the society at large (who are the key beneficiaries of Biopharma products and services), and such studies would help add to the knowledge base.

СУЧАСНІ ІМПЕРАТИВИ ГЛОБАЛІЗАЦІЇ РИНКУ ПРАЦІ: ФОРМИ І СТРУКТУРА

The development of the world labor market at the current stage of world economic progress is characterized by the systemic influence on its structural dynamics of a number of global imperatives, which manifests itself at the levels of demographic, transnational, scientific and technical, regional integration, and institutional and regulatory factors. Their synergistic effect leads to the transformation of the world labor market into an open competitive system of a global type, the quantitative and qualitative parameters of which are determined, on the one hand, by the complex action of the mechanisms of the objective economic laws of value, the capitalist population, demand and supply of labor, concentration of production, competition; and from the second – the specifics of the expanded reproduction of labor resources within the framework of national economies and at the international level. The purpose of the article is to characterize the structure-forming imperatives of globalization of the labor market. The modern economic nature of the structure-forming imperatives of the globalization of the labor market actualizes an important methodological issue regarding the comprehensive renewal of the theoretical foundations of its research at the level of the operation of economic laws and the influence of emergent factors. global economic transformations and the deep organic connection of the labor market with structural changes in the international economic system and all forms of international economic relations. The development of the global format of the functioning of the labor market is the result of the convergence of cultural traditions, moral values of different peoples and nations, their psychological and socio-cultural characteristics, attitudes to work and learning, the degree of self-education, discipline and responsibility, which, "integrating" into global institutions, acquire qualitatively new features. So, we can conclude that together they ensure the effective functioning of operational and functional business models of international companies and firms and are a powerful driver of modernization of the institutional, organizational, economic and technological basis of the world economy on the platform of global business networks.