Opportunities For Business Models Research Articles

The society journal and looking into the future

On this occasion of the International Biodeterioration & Biodegradation Society's (IBBS) Golden anniversary and celebration, it is important to highlight the major achievements made to its growth and publicity of the development of the society, and also to reflect by individual's story. Here I would also like to put a personal touch on my experience with the society for more than 30 years as a member first and, later on, with the journal itself by including some personal memorable moments. At the same time, the dynamic changes with the journal have been evident over the past decade due to new focus of research topics, and available publishing technologies and new business model opportunities. There are many new challenges ahead for both the journal and the society as a whole to face and to deal with the new changes now and also in the future. In addition, to embrace the changes of the society around us, active engagement of young researchers as members and identification of new areas of investigation and development will be vital to both the journal and also the society to maintain and improve its competitive edge and impact on new research and to serve the scientific community. My recommendations to accomplish this are also shared on specific focal and new emerging areas of the journal through a reflection of the journal's recent history and development.

The twofold transition: Framing digital innovations and incumbents' value propositions for sustainability

AbstractAlthough digital technology offers many sustainable business model opportunities, they are not always exploited. We argue that the framing of technology is still rarely considered a cognitive antecedent of business models for sustainability, despite that it offers insightful explanations, connecting technology's sustainability potential to its business model implementations. We conduct a qualitative multicase study of virtual power plants, adopted by seven incumbent companies in the German energy sector, and explore how they frame innovative digital technology, as well as how it affects their value propositions and the energy transition. Our research reveals several value proposition differences between two company groups. The first generates a single‐focused technological frame, concentrating on economic value. The second constructs a twofold digital and sustainable technological frame, resulting in additional socioenvironmental value components. Overall, companies that create a twofold frame operate as renewable energy enablers or system supporters and contribute to the energy transition.

Evolution of Servitization: new business model opportunities

The concept of Servitization has been constantly developing since its outset, but in the last decade due to the irruption of Industry 4.0, the complexity of the concept and its typologies of value propositions have evolved considerably, opening up endless opportunities. In this sense, the main objective of this research is to show a summary review of the evolution of Servitization since its beginnings and the new typologies that are emerging due to the digitalization that arises through Industry 4.0. For this purpose, a systematic review of the leading databases in the field of services has been conducted. The results of the literature review show the potential of Servitization and the need to understand each reality in order to adapt to new capabilities that help the companies who become service-oriented benefit from major advantages. Ultimately, it can be concluded that, in the short term, Industry 4.0 and its new business models are the key, however, Servitization will continue to evolve to a point where all organizations will need to adapt to new trends.

Accounting procedures digital transformation for business processes improvement

The article researches the impact of the digitalization and digital transformation process on the construction of functional management systems of modern enterprises. The article materials consider new information opportunities for business models building and business processes organization. Approaches to the improvement of operational processes and their optimization are substantiated. The evidence is given that the possible way to implement digitalization in certain areas may be: the concept (strategy), staff training and education, the new technologies implementation. It is defined that the implementation of the digital transformation of the business model can take place in stages at the level of its individual elements or components. It is supposed reasonable to use a system-oriented approach to management, which is based on understanding the object of management as a whole, the need for internal and external communication links, i.e., a set of related management methods and tools in the enterprise and its structural units. System-oriented management of the digitalization process in the article is considered to involve the business processes transformation. Such processes should be based on perfect digital strategy planning. Important components are the feasibility assessment of practical digital initiatives implementation, monitoring of promising areas of action, forecasting the expected effect of digitalization and comparison of innovative initiatives. The application of a systematic approach to the management of the digitalization process is justified at certain stages, which will allow in a certain sequence and order to get the maximum effect and ensure the achievement of goals and acceptable results. The main stages of system-oriented management of the business processes digitalization process are offered, as well as the main groups of factors of influence (external and internal) on the digitalization implementation process are determined.

The prospective value creation potential of Blockchain in business models: A delphi study

Blockchain technology is gaining awareness and drawing attention in corporate practice and academia. Both fields expect a fundamental impact of blockchain on business and society. However, since blockchain research within the business model context is still in a nascent stage, more in-depth insights is required of blockchain's impact on firms’ value creation and value capture. This study builds on a Delphi approach and aims to identify the future value creation potential of blockchain for organizations by 2030. Based on expert interviews, workshop insights, and prior literature, we developed a meaningful set of 36 projections of blockchain implications for business models. Our findings, based on the elements of the PEST framework, predict massive efficiency gains through technological progress and promise complementary offerings through various novel combination possibilities, novel forms of collaboration and business model opportunities, and a dissipation of the significance of blockchain types. The combined use of blockchain solutions with other technologies is likely to serve as the basis for ecosystem developments. Our projected finding is that the internet of value will replace the internet of information by 2030. Thereby, our research contributes to technological forecasting and strategic planning by providing managers clear indications of blockchain developments and action recommendations.

Evaluation of Digital Business Model Opportunities

Overview: In the era of digitalization, manufacturing firms find it difficult to assess what is “the right” digital business model. To avoid common digitalization traps, company leaders and managers need to carefully assess each business model opportunity before committing to implementation and commercialization. We present insights from our case study about the diverse and complex issues related to digital business models. We highlight three digitalization traps and provide a three-phase framework companies can use to evaluate digital business model opportunities and make an informed decision on the commercial prospects for each model vetted.

The use of decision support tools to accelerate the development of circular economic business models for hard disk drives and rare-earth magnets

Abstract

A model for examining the role of the Internet of Things in the development of e-business

PurposeNowadays, the Internet of Things (IoT) offers new intelligent services and business model opportunities by extending the internet connectivity into physical devices and daily objects. Recently, this technology has had a deep impact on all the aspects of human societies from industry to management and business. Therefore, the purpose of this paper is to predict the impact of using IoT services on the development of electronic business (e-business).Design/methodology/approachFor evaluating the model’s elements, a questionnaire was designed. It was revised by experts with significant experiences. For statistical analysis, SmartPLS 3.2 is used.FindingsThe findings have confirmed the validity of the proposed model. The results also have indicated that the quality of IoT services (scalability, availability, reliability and ease of use), security of IoT services (trust, reputation, privacy and encryption) and IT knowledge of users (usage skills, awareness, experience and accuracy) have a positive and significant impact on development of e-business. Furthermore, the obtained results have revealed that the operating cost of IoT services (transmission time, storage capacity, functionality and stability) is significantly influenced by the development of e-business.Research limitations/implicationsBy capturing a number of important factors in the proposed model, this study can provide a significant theoretical influence for researchers in the related area of interest. In fact, this study provides a worthwhile direction by assessing e-business performance, which, so far, has not been well assessed in many developing countries.Practical implicationsFrom a practical perspective, the statistical results support the crucial role of the following factors: quality of IoT services, the security of IoT services, operating cost of IoT services and IT knowledge of users. Hence, aspects relating to these factors must be the focus of attention of any organization in their endeavor to development of e-business.Originality/valueThis study meaningfully contributes to the knowledge and literature by focusing more on development e-business and IoT as original technology for further understanding, investigating other important features and applying advanced statistical analyses technique. By doing so, this study was able to develop the current understanding regarding the main aspects of development e-business and IoT services.

Cloud Manufacturing as a new type of Product-Service System

ABSTRACTIndustry 4.0 (I4.0) technology developments in Cloud Manufacturing (CMfg) are challenging traditional business models, and adapting these is key to a sustainable competitive advantage. In parallel, pay-per-use strategies are being discussed as an enabler to future sustainable societies. The general benefits of CMfg services are clear, but to date the actual business implications from a service provider perspective have not been discussed. This article explores new business model opportunities based on the idea of providing CMfg as a completely new type of Product-Service Systems. Technology developments and business recommendations are defined, considering the proposed business model targets the manufacturing industry as a whole. Manufacturers make use of their spare capacity by purchasing time on networked equipment on a pay-per-use basis. This allows costs to be brought down, whilst creating new revenue streams. It also increases machine hosts’ competitiveness by reducing investment costs and enabling instant manufacturing scalability. CMfg is then classified into three levels of machine autonomy, arguing that as technology develops intermediaries may slowly integrate vertically and eventually replace manufacturers by completely autonomous equipment. The proposed business model presents both a first step and a baseline point of reference towards bridging the gap between advanced manufacturing technology and new business development in the context of I4.0 (Smart Manufacturing).

Designing Service Business Models for the Internet of Things: Aspects from Manufacturing Firms

The increasing pervasiveness of the Internet of Things (IoT) has offered a wealth of business model opportunities. Many conventional product-based companies are seeking to increase their competitiveness by moving toward a service-based business model where IoT can bring tremendous opportunities. These traditional product-sales manufacturing firms are required to look at business models beyond their conventional product-focused, firm-centric core competence business model innovation and respond to fast changing digitalization dynamics focused on promoting service-centric solution availability instead of physical products. However, studies and literatures have not yet provided profound and actionable approaches to service business models in IoT-driven environments for manufacturing firms. This research aims to fill the gap and elaborate the guiding principle for designing service business models for the Internet of Things in manufacturing firms. The guiding principles are derived from illustration of value of the Internet of Things and systemic review of academic literatures focusing on IoT business models. Exemplary real-world IoT service business models cases are demonstrating the applicability of the proposed guiding principles. Evaluation of the applicability of guiding principles pertaining to the emerging context of IoT business model can enable researchers and practitioners to visualize and analyze service business model design in a structured and actionable way.

Multi-Platform Television and Business Models: A Babylonian Clutter of Definitions and Concepts

The field of multi-platform television is suffering from a Babylonian clutter of definitions and concepts hampering its development especially in terms of establishing new business models for it. Thus, a clear notion of the concepts and definitions within an emerging business field is necessary to identify and develop new opportunities for value creation. To enhance the research field of multi-platform TV the article disentangles the clutter of concepts by defining and aggregating the terms into two groups: Hybrid TV and multi-screening. Based on this differentiation between Hybrid TV and multi-screening and recent studies on customer behaviour, the authors discuss emerging business model opportunities for TV broadcasters within a reconfigured framework differentiating between three dimensions: content, apps and services, and revenues. Finally, the framework is used within a case study of the ProSiebenSat.1 Media Group – Germany’s second largest and most innovative private TV broadcaster – to describe and analyse the actions of ProSiebenSat.1 in response to the rapidly changing environment.

The Relevance of Managerial Cognition for IPSS Business Model Development

Facing the potential advantages and specific challenges of IPSS business model development we refer to a critical field for its succession: the hindering and supporting influence of managerial cognition. Related to microfoundations in dynamic capability research, we analyze for the development of IPSS how managerial cognitions influence a firms’ capability to realize new business model opportunities and to seize and reorganize its resources in order to take advantage from these opportunities. We apply the research on managerial cognition to the field of IPSS. Our empirical exploration is based on a qualitative case study analysis, comprising of interviews and cognitive mapping. We discover managers’ cognitions concerning new market opportunities, their perception of the necessity to change and their coping patterns for resource allocation. Our key finding is that IPSS are nor primarily considered as opportunities but rather threats with different strategies of coping mechanisms. There is a high consciousness for increasing sensemaking activities inside and outside the organization to adopt to new ways of value creation.

Collaborative consumption: business model opportunities and barriers for fashion libraries

Purpose– The purpose of this paper is to explore barriers and opportunities for business models based on the ideas of collaborative consumption within the fashion industry.Design/methodology/approach– The analysis is based on a multiple-case study of Scandinavian fashion libraries – a new, clothes-sharing concept that has emerged as a fashion niche within the last decade.Findings– It is concluded that fashion libraries offers interesting perspectives, e.g. by allowing people to experiment with styles without having to pay the full cost and becoming a meeting place for young designers and end consumers. However, at present fashion libraries remain a small-scale phenomenon with difficulties reaching the mainstream market, not least due to limited financial and human resources as well as conventional fashion consumption patterns.Research limitations/implications– The study is limited to the new phenomenon of fashion libraries and does not cover other types of collaborative consumption within the fashion industry (Swap-parties, etc.).Originality/value– The paper is one of the first attempts to examine new business models of collaborative consumption in general and the fashion library concept in particular. The study contributes to the discussions of whether and how fashion sharing and collaboration holds promise as a viable business model and as a means to promote sustainability.

Designing Business Models in the age of Pervasive Digitization.

The increasing pervasiveness of digital technologies, also referred to as Internet of Things, offers new business model opportunities, which often involve an ecosystem of partners. Hence, product-d...

Toward a capability‐based conceptualization of business model innovation: insights from an explorative study

Although business model innovation (BMI) is more and more being acknowledged as key strategic task, current research is missing a conceptualization of core elements and relevant organizational capabilities. These research gaps impede a full theoretical understanding and a systematic and purposeful managerial application. By drawing on dynamic capability literature, this study addresses the question of how firms systematically and purposefully pursue BMI. Empirical analysis is based on six case studies in the specialized publishing industry, in which technological change has triggered numerous opportunities for new business models. The findings demonstrate that BMI can be conceptualized as a distinct dynamic capability. This capability can be disaggregated into a firm's capacity to sense business model opportunities, seize them through the development of valuable and unique business models, and reconfigure the firms' competences and resources accordingly. The present study outlines how distinct organizational routines and processes undergird these capacities. A conceptualization as dynamic capability contributes to a theoretical underpinning of BMI by integrating previously discussed dimensions of this phenomenon. Moreover, managers can gain concrete guidelines about how to systematically and purposefully approach BMI.

Business models: Impact on business markets and opportunities for marketing research

Business models have evolved in the context of new venture creation. By offering an entrepreneurial perspective to established marketing elements such as value propositions, value capturing and value networks, business models provide marketing discipline with both challenges and opportunities to engage with entrepreneurial environments. In particular, business models call for approaches that elucidate value-in-use of marketing offerings, reveal the performance of contracts in orchestrating value networks and identify the performance of network configurations. In this article we present some implications of and opportunities for business models for marketing research.