Business Model Components Research Articles

CHANGES TO RETAIL BUSINESS MODELS - OVERVIEW OF THE DETERMINING FACTORS

Retail business models, both with respect to overall retail operations, as well as individual types of retail organisations, are undergoing transformation brought on by the current economic environment. This can be attributed to growing competition, changes to customer behaviour and expectations, globalisation, as well as the availability and development of new information technologies. This paper outlines the essence and fundamental components of retail business models, indicates the probable directions in which those models may evolve and identifies the determining factors and trends that shape the business models applied by retailers. In her analysis the author has demonstrated that although the retail sector eagerly embraces innovation, any changes to business models are evolutionary in their nature. They mainly involve the introduction of new solutions in terms of store formats, cooperation within the distribution channels, changes to the range of products and services offered and the use of mobile technologies.

Business Model et normalisation comptable : quelle intégration du modèle économique par les IFRS ?

L’utilisation du concept de Business Model (BM) dans la littérature académique et dans les échanges professionnels et institutionnels s’est sensiblement accrue au cours des dernières années. Partant du constat qu’il existe dans la littérature plusieurs niveaux de caractérisation du concept de Business Model, cet article se propose d’analyser dans quelle mesure le référentiel IFRS prend en compte ce concept dans son acception la plus sophistiquée. L’analyse approfondie des textes composant le référentiel IFRS nous permet de montrer qu’une grande partie des composantes du Business Model est peu intégrée dans les normes. Considérant que la prise en compte du Business Model par les IFRS pourrait se traduire soit par une divulgation obligatoire d’informations complémentaires sur le BM soit par une comptabilisation conditionnée par le BM, l’article s’interroge alors sur les voies d’intégration potentielles de ce concept par les normes IFRS.

핀테크의 비즈니스 모델에 관한 연구 - 비즈니스 모델 캔버스를 중심으로-

본 연구의 목적은 현재 전 세계적으로 시장을 선도하고 있는 핀테크의 성공적인 비즈니스 모델의 개념을 도출하고 국내의 핀테크 산업에 대한 비즈니스 모델의 구성요소들에 대한 전략을 제안하려 한다. 비즈니스 모델은 전략적적인 차원에서 제시되고 있지만 결국 기업이 가치를 창출하는 데 있다. 기존의 연구에서 비즈니스 모델에 대한 개념적 특성과 구성요소들을 검토하고 핀테크의 산업분야에 적용하고자 한다. 본 연구 내용을 통해 핀테크의 비즈니스 모델에 대한 개념을 이해할 수 있었으며, 성공적인 시장진입을 위한 비즈니스 모델의 구성요소의 방향성을 구축할 것을 제안하고 있다. 본 연구에서는 Alexander Osterwalder 등이 제안한 비즈니스 모델 캔버스를 이용하여 핀테크의 비즈니스 모델의 구성요소에 대한 개념적 이해를 분석하였다. 이 제안된 비즈니스 모델의 구성요소는 목표고객, 가치제안, 채널, 고객관계, 핵심 자원, 핵심 활동, 핵심 파트너십, 수익원 및 비용구조로 구성되어 있다. 이러한 구성요소들을 기반으로 핀테크 산업의 성공적인 시장진입과 정착을 위한 개념적 정의를 분석하였다. 이러한 핀테크의 비즈니스 모델의 구성요소들의 분석을 통해 비즈니스 모델의 지향성을 밝히고자 하였다. The purpose of this study is to deduce a successful business model of fintech and suggest the business model component in fintech on domestics. Business model has suggested on a strategic levels but it is to a value of corporation. From literature research, we find a conceptual character and its component of business model. The results show that we understand the business model of fintech. We suggest business model of component for a successful entry of market. These results suggest business model canvas by Alexander Osterwalder. This business model consist of 9 blocks - customer segmentation, value proposition, customer relationship, key resource, key activity, key partnership, revenue stream, and cost structure. These components need an analytic approach for a successful entry and settlement of market. Also, we analyze and suggest a fintech business model and directivity of its components.

Business model innovation for delivering zero carbon buildings

Zero carbon building (ZCB) has emerged as an innovative approach to improving building energy performance and reducing building carbon emissions. Previous studies have devoted to analyzing the technical feasibility and design issues of ZCB, and examining barriers to adopt ZCB in market, social, regulatory and financial aspects. However, few have explored the role of business models in the delivery of ZCBs, which may explain the slow uptake of the ZCB approach. The aim of this paper is thus to examine the effect of business model on ZCB, and explore how business model innovation can help to deliver ZCBs. The paper first reviews the concept of ZCB and identifies the challenges to ZCB based on the political, economic, social, technological, environmental and legal analytical framework. The paper then investigates the conceptual framework of business models for ZCB. Eight key elements of business model are identified, which include product/service, value proposition, target customer, organization and activities, role in value network, resource and core competency, competitive advantage, cost and revenue model. Theoretical bases of business model innovation are examined in order to establish a process-based framework of business model innovation. Evidence was collected to substantiate the arguments through case study with one recent ZCB project. The results reveal innovations in three interrelated components of business model, namely, value offering, value creation and delivery, and value capture, and demonstrate how value from ZCB can be created and captured through these components. The findings help to demonstrate how business model innovation helps to deliver ZCBs.

A UTILIZAÇÃO DO MODELO DE NEGÓCIOS CONCEITUAL NO GERENCIAMENTO DE PROJETOS DE TECNOLOGIA DA INFORMAÇÃO

O modelo de negócios de uma organização é um importante instrumento estratégico para o seu sucesso, devendo ser, portanto, bem compreendido pelos profissionais da área de negócios e também pelos profissionais da área de tecnologia da informação. Mediante este contexto e considerando-se a importância da tecnologia da informação nos modelos de negócios contemporâneos, este artigo teve como objetivo verificar a utilização dos componentes do modelo de negócios no processo de gerenciamento de projetos de tecnologia da informação nas empresas. Para tanto, esta pesquisa exploratória investigou a utilização do conceito Business Model no gerenciamento de projetos de tecnologia da informação por meio de um levantamento junto a 327 profissionais executado de fevereiro a abril de 2012. Observou-se que o conceito modelo de negócios, bem como suas práticas ou seus blocos constituintes, ainda não é explorado em toda sua potencialidade, possivelmente por ser relativamente novo. Um dos benefícios desta ferramenta conceitual é oferecer um entendimento do core business por diferentes áreas, possibilitando assim um maior nivelamento do conhecimento das atividades essenciais da empresa entre profissionais de tecnologia da informação e da área de negócios.

Business model adaptation for emerging markets: a case study of a German automobile manufacturer in India

Emerging markets offer a wide range of opportunities for firms from developed markets, especially in terms of high growth potential. However, business models that enable firms to achieve competitive advantage in their home markets are often challenged by the different nature of emerging markets. Firms, therefore, have to innovate and adapt their business models to better fit the specific context of these international markets. Based on a longitudinal case study of a German luxury automobile manufacturer's internationalization to India, we develop a phase model of the business model adaptation process to emerging markets. We find that firms adapt their business models in four phases: international extension, local emergence, local expansion, and local consolidation. Firms step‐wise adjust business model components along this process to develop a local emerging market business model. In each phase of the business model adaptation process, firms emphasize different components of the business model, before they enter into continuous adjustments of all business model components. Furthermore, we find that firms overall adjust some components of their business model more significantly than others. Our findings are of particular relevance to the literature on business model internationalization and the literature that points out the evolutionary, step‐wise nature of business model innovation.

Business model disclosure in the Strategic Report

Purpose – The purpose of this paper is to evaluate business model (BM) disclosure. As the BM shows how a company creates and captures value, its communication in the Annual Report is considered a necessary background for a dynamic analysis, interpretation, and evaluation of the intellectual capital (IC) contribution to a company’s competitive advantage. Design/methodology/approach – Focusing on a sample of listed UK companies operating in high-technology industries, this paper runs a content analysis of BM disclosure presented in the Strategic Report (SR). To develop the analysis, it refers to an ontological approach that encompasses the main research contributions to this topic. Findings – The analysis of SRs revealed that few companies use their BM disclosure to highlight the contribution of their IC to create and capture value. BM descriptions are not always clearly distinguishable from other strategic concepts and poorly illustrate the interactions among the BM components, which help understand how IC is entangled in a company’s value creation process. Practical implications – This paper answers the Financial Reporting Council’s call for comments about its Guidance on SR. More in general, it contributes to the issue of the regulation of narrative information in the Annual Report. Originality/value – This paper proposes a methodological framework for the analysis of BM disclosure quality. Thanks to this framework, it points out some critical issues of BM disclosure and offers some hints useful for its regulation.

Airlines define their business models: a content analysis

Business model is not a new concept; however, it has been recently studied in business management literature. On the other hand, business model concept has not been studied in terms of its components in airline business. The purpose of this study is to see how airlines define their business models based on business model components. In this study business model concept is introduced and business model components are discussed as they have been explained in literature. Research part aims to explore how airlines describe their business models. To clarify this, a content analysis has been done in the strategic statements and in 'about us' parts of the websites of 50 biggest airlines worldwide. Our study shows that there are four components that airlines mention in their strategic statements and in 'about us' parts of their websites. These components are: 1) the value proposition; 2) the market segmentation; 3) the value chain; 4) the profit structure.

Business Models and Competitive Advantage

Abstract Firms in the emerging markets are striving to gain sustainable competitive advantage. There is a strong relationship between the business models and the competitive advantage. An effective business model is a combination of deliberate alignment of resources and capabilities to strike competitive advantage. This paper makes an attempt to study business models from the emerging markets and emphasizes on emergence of multiple business models employed by the firms. It employs multiple case studies which are developed in different time periods. It is understood that the choices which firms make in selecting the components of business models determines the success. Firms with multiple business models demonstrated higher chances of gaining competitive advantage.

Changing Competitive Landscape Through Business Model Innovation: the New Imperative for Corporate Market Strategy

The article is dedicated to business model innovation (BMI) from the perspective of its role in today’s competition of large corporate entities. The work aims to make three contributions. First, by relying on strategy-focused and innovation management-focused BMI studies, and linking the two approaches, the author develops the “dynamic concept” of business models’ strategy dimension by bringing the two perspectives together. Second, the work examines how BMI can become a source of sustainable competitive advantage though all the main components of successful business models seem very visible and easy to copy. Third, by unpacking key elements of a business model, the paper discloses what BMI does really mean in terms of concrete changes and how these changes affect a competitive position of the firm.

Business Model for Czech Agribusiness

Abstract Business modelling facilitates the understanding of value creation logic in organizations in general. Identifying the components of business models based on different criteria helps understanding the fundamentals of business and the position of entrepreneurs and managers in companies. The present research is focused on the definition of a specific business model for the Czech agribusiness sector. Based on the theoretical background and evaluation of selected business models, the aim is to create a new business model, using components which take into account the specifics of this particular industry.

From rapid prototyping to home fabrication: How 3D printing is changing business model innovation

There is a growing consensus that 3D printing technologies will be one of the next major technological revolutions. While a lot of work has already been carried out as to what these technologies will bring in terms of product and process innovation, little has been done on their impact on business models and business model innovation. Yet, history has shown that technological revolution without adequate business model evolution is a pitfall for many businesses. In the case of 3D printing, the matter is further complicated by the fact that adoption of these technologies has occurred in four successive phases (rapid prototyping, rapid tooling, digital manufacturing, home fabrication) that correspond to a different level of involvement of 3D printing in the production process. This article investigates the effect of each phase on the key business model components. While the impact of rapid prototyping and rapid tooling is found to be limited in extent, direct manufacturing and, even more so, home fabrication have the potential to be highly disruptive. While much more value can be created, capturing value can become extremely challenging. Hence, finding a suitable business model is critical. To this respect, this article shows that 3D printing technologies have the potential to change the way business model innovation is carried out, by enabling adaptive business models and by bringing the ‘rapid prototyping’ paradigm to business model innovation itself.

Success Factors within Business Models for Physical Therapy Provided by Primary Health Care Businesses; Systematic Review with Critical Interpretative Synthesis.

Background - Physical therapist business models are under pressure in several countries like the UK and The Netherlands as a result of changing health care market forces. Physical therapists feel the need to adjust their own business’ business model. But they don’t know exactly how it should be adjusted and we are given the impression that information about this is not readily available.Study identification and findings - The aim of this systematic review is to describe success factors within business models for primary health care businesses’ physical therapy. Business models act on a strategic level in this review and can be the basis for more detailed business process models and business cases. Publications were retrieved through a systematic search in medical and economic databases. Two different search strings were developed for this purpose. The search yielded 2253 publications, which were screened by title and abstract. A selection of the results was made via: 1. Generalisable information related to business models, 2. Information related to business models in health care, 3. Success factors in business, 4. Quality of health care related to business models. This led to a selection of 45 relevant full text publications. Relevant results were organised into two business model component frameworks with the use of a critical interpretative synthesis.Conclusions - The findings in this review are promising for further research and application within business models for primary health care businesses’ physical therapy. We consider success factors within business model components: Customer segments, Value propositions, Customer relationships, Key resources, Key partners, Cost structure, Positioning, Product and service logic, Marketing and sales logic and Profit formula. We consider no success factors within business model components: Channels, Revenue streams, Key activities. Not only isolated business model components need to be considered here, but an integration of more than one component, resulting in a theory for the business. Research on business model definition and on indices for success factors within business models for primary health care businesses’ physical therapy is needed.

AN MCDM APPROACH TOWARDS M-PAYMENT BUSINESS MODELS EVALUATION

<p>There are many challenges in the adaptation of m-payment technology such as improved service quality, missing standards, lack of content quality, low customer satisfaction, and lack of a business model. The business model plays a critical role in the success of m-payment technology, and there are different m-payment business models, each with their own advantages and disadvantages. Project managers have little understanding about the different components of these specific business models. This study surveyed different business model’s evaluation criteria from the literature and industry, and used the Analytic Hierarchy Process to evaluate m-payment business models on the basis of these criteria. The scalability and user centric architecture in the case of service related factors and collaboration & partnership, and response to market trends were the most important factors for sustainability of business models. According to the given criteria, the collaboration model was the most dominant model in the m-commerce domain. A sensitivity analysis was performed in order to find out different views about the final prioritized list under varying conditions.</p>

The impact of organizational culture on a firm's capability to innovate the business model

Recent literature on business model innovation tries to identify operational changes occurring within the business model components. We suggest that a significant part of the business model cannot be understood without an investigation of the underlying logic of the firm. Drawing on organizational culture literature, this study explores the idea that parts of the capabilities that enable business model innovation are determined by the firm's underlying cultural values. In this study, we utilize existing literature on organizational culture to analyze the underlying organizational values of the two main business model design themes (novelty and efficiency) and link these to the firm's capabilities that foster business model innovation. By empirically analyzing a sample of 305 companies in the engineering industry, we find that novelty‐oriented cultural values foster capabilities (strategic sensitivity, collective commitment and resource fluidity) in favor of business model innovation, while efficiency‐oriented cultural values do not show positive effects. We further find that strategic sensitivity and resource fluidity significantly enhance the propensity to business model innovation.

Business Models: Origin, Development and Future Research Perspectives

The concept of business models has reached global impact, both for company's competitive success and in management science. Its application by authors from diverse areas has led to a previously very heterogeneous comprehension of the concept. Yet, by means of investigating its origin and theoretical development, we state a recently converging business model view. Further, based on analyzing business model definitions, perspectives and components in the literature, we newly define the concept and portray its essential components in an integrated framework. Finally, the compilation of the current state of business model research yields the article's main findings. In this regard, via database search we quantitatively identify 681 peer-reviewed articles. Further, we qualitatively analyze them according to individual research areas that we adopt from an appropriate heuristic frame of reference. In this way, we identify four essential research foci: innovation, change & evolution, performance & controlling and design. In triangulation with assessing future research perspectives through a survey of twenty-one international experts, they also consider the areas of innovation, change & evolution, and design to be significant for the future development of the business model research field.

The Development and Experimental Evaluation of a Focused Business Model Representation

Business models (BM) are the central concept to understand the business logic of an organization. Enterprise modeling contributes to the conceptualization of BMs by providing explicit representations. A proper BM representation helps to increase the understanding and communication about the underlying knowledge for the stakeholders within a company. However, the existing enterprise modeling languages have a different and partial focus on the BM concept due to their various backgrounds. This prevents the large-scale adoption of these representations in practice. Therefore a focused BM viewpoint is developed, which explicitly facilitates the understanding about the underlying BM components. To this end, existing diagrams of the value delivery modeling language were adapted to prescriptions of the physics of notations, which is a normative theory for cognitive effectiveness of diagrammatic representations. The effect on the understanding was evaluated by an experiment with 93 master students. The results confirm the research hypothesis that the new BM viewpoint increases the understanding of the modeled BM components.

Developing R&D portfolio business validity simulation model and system.

The R&D has been recognized as critical method to take competitiveness by not only companies but also nations with its value creation such as patent value and new product. Therefore, R&D has been a decision maker's burden in that it is hard to decide how much money to invest, how long time one should spend, and what technology to develop which means it accompanies resources such as budget, time, and manpower. Although there are diverse researches about R&D evaluation, business factors are not concerned enough because almost all previous studies are technology oriented evaluation with one R&D technology based. In that, we early proposed R&D business aspect evaluation model which consists of nine business model components. In this research, we develop a simulation model and system evaluating a company or industry's R&D portfolio with business model point of view and clarify default and control parameters to facilitate evaluator's business validity work in each evaluation module by integrate to one screen.

Tracing The Business Model: A Bibliometric Study On Intellectual Roots

In order to add to the theoretical understanding of the business model concept and to proffer future research recommendations, an analysis of relevant literature was completed via a co-citation analysis of the primary business literature and an abstract analysis of all cited papers in relevant disciplines. The theoretical basis for the business model literature was found to be the resource based view of the firm, incumbent survival, open innovation and the management of uncertainty. Gaps were identified in the areas of customer value proposition and business start-ups. To address these gaps and to further the current focus on business model innovation the suggestion for future research is to reconceptualization the interactions between business model components. To this point the literature describes this as a casual chain between resources and competencies, through customer value proposition to revenue, where in fact the relationship is more complex and it is the manipulation of all components that produces value generation and value capture – or valid business model.

Applications of a UX Maturity Model to Influencing HF Best Practices in Technology Centric Companies – Lessons from Edison

In recent years, user experience design (UX) and Human Factors (HF) have become key components of many business models, but there are still many technology companies which view UX and HF as less than central to their product's value proposition; and, in extreme cases, they view it as aesthetics and visual design only. This lack of HF, or UX “maturity”, makes the adoption of effective HF practices problematic. There are a number of models[1] that describe various levels of organizational maturity with regards to adopting HF and UX best practices. The authors will show how one of these UX maturity models[2] can be used with organizations that are in early HF adoption stages, to better understand approaches to organizational change. Pragmatic “success” in this context would be the introduction of accepted HF best practices into an organization where none had previously occurred. The authors will then examine three case studies and analyze the lessons learned in terms of: activities introduced; as well as the resultant “state” of UX and what would be required to enable the organization to advance to the proverbial “next level.” As a means to illustrate the fundamental nature of UX maturity and innovation we will compare these practices to the approach of Thomas Edison.