Development Of Business Models Research Articles

Corporate Social Responsibility of Coal Comodity Industry in Indonesia

The concept of Corporate Social Responsibility (CSR) continues to develop following the rapid development of business models and awareness of various groups regarding CSR issues. The implementation of CSR has been carried out by companies at various levels, from multinational, national to local companies, especially in Indonesia. This research aims to analyze the CSR performance of coal companies in Indonesia by measuring leverage, profitability and company size. The data collection method uses content analysis techniques in annual reports of coal companies listed on the IDX. The testing method uses panel data regression. Hypothesis test results show that company size and probability influence corporate social responsibility (CSR). Meanwhile, leverage shows a positive and significant influence on corporate social responsibility (CSR).

Harnessing Text and Web Analytics to Enhance Decision-Making in Job Opportunity Categorization

Text analytics is defined as a method of analyzing compilations of structured text such as dates, times, locations, semi structured text, such as HTML and JSON as well as unstructured text, such as word documents, videos, and images, to extract and discover trends and relationships without requiring the exact words or terms to convey those concepts. Web analytics on the other hand is the technology that collects, measures, analyses, and provides reports of data on how users use websites and web applications. It is used to track a number of aspects of direct user-website interactions, such as the number of visits, time spent on the site, and click pathway. It also aids in the identification of user interest areas and the enhancement of web application features. We used clustering techniques to categorize the job opportunities that are available for the job seekers. By implementing text analytics, text data may be grouped with the goal of providing outcomes in the form of word frequency distribution, pattern identification, and predictive analytics. Text analytics may create one-of-a-kind values to use in the improvement of decision-making and business processes, as well as the development of new business models.

Traditional agencies on bridges: How is digital transformation changing business models?

AbstractDigital technologies produce new strategic and organizational challenges for incumbent firms that require major digital transformation (DT) processes, leading to the evolution of business models (BMs). Contributing to the research stream on DT and BM evolution, this study explores which technologies have the most relevant effect on core BM dimensions, i.e., value proposition, value creation, and value capture, by investigating both the consequent themes and intensities of change in these dimensions. A valuable context for analysis was chosen: the advertising industry and traditional communication agencies, namely, creative and media agencies. Based on 38 in-depth interviews with senior communication professionals and qualitative content analysis, we propose a comprehensive reading of (1) the impact of specific technologies on different BM dimensions and components and (2) the themes and intensities of change in creative and media agencies’ BM dimensions. Finally, we outline an interpretative framework, identifying two different paths for incumbents: outside-in BM adaptation and inside-out BM innovation. This study therefore offers two academic contributions. First, it overcomes the vagueness of previous investigations that considered the effects of digital technologies in general terms, and it also resolves the narrow scope of research that focused only on the impact of one specific technology. Second, by deepening the understanding of the joint evolutions and intensities of change across all three BM dimensions, this study has widened the limited scope of previous contributions on one BM dimension. By doing so, it offers a comprehensive reading of BM dynamics due to DT.

Circular Green and Sustainable Business Model Competence Innovation and Development: Challenges with Privacy and GDPR Related to Businesses and Research

Increased focus and vision on faster circular green and sustainable transformation in businesses and research have now turned out to be highly linked to also the social and the competence dimension of “the triple bottom line” approach and measurements. The social economic part of the triple bottom line approach has shown to be increasingly important, but very challenging to operate under the existing Privacy and GDPR regulations. To fulfil and measure how green the human, organizational systems and culture competence components actually are in business models today is not that much investigated. Focus has more been on “greening” the technology part of the competence components but now a number of advanced technologies seems promising to help measure green competences. It opens up for measuring circular, green and sustainable business model competences in some new and more advanced ways, but it could potentially result in the business do not comply with Privacy and GDPR regulations. Ever since the branching of the scholarly literature on competences of the early 1960’s businesses have constantly being experimenting with business model competence design, reengineering, development and measuring. Creating Green Business Model (GBM’s) competences is no exception. Designing TO BE GBM’s and reconfiguration of AS IS BM’s to become GBM’s and later develop these is in focus – but until now the main focus has been on greening technologies. Very few knows how to “greening” and measure green related to human competences, organizational systems and culture. GBM competence reconfiguration has also mainly focused on changing or reconfiguring AS IS Business Models technology competences. More and more businesses have realised that investing in new technologies or changing existing technologies are not enough to reach the vision and goals of green transformation. Technologies alone cannot release the full potential and requests of green transformation – reduce the use of material and resources, reduce the waste and spill, reduce the pollution including Co2 and increase biodiversity. The Business will simply not by technologies alone be able “to climb” and “pass” “the Green Wall” without innovating, developing the BM competences – HR, Organizational systems and Culture into becoming greener and thereby support green transformation in the businesses. Reconfiguring AS IS business model competences to become greener is complex and calls for new and advanced approaches that challenge classical BM competence frameworks and understanding. Green Parameters and Profit are no longer the main focus in GBMI and changing some BM dimensions and components – or even adding new business model dimensions to the BM is neither enough. If business want to remain competitive, efficient and at the same time green, it requires a different GBMI approach and mindset – including measuring BM Competences. This challenges the compliance of Privacy and GDPR related to both businesses and research. The request for circularity and sustainability just adds to the complexity of measuring. We offer a review of three Privacy and GDPR GBMI compliance cases and challenges in three different businesses with the aim of achieving greater understanding of Privacy and GDPR challenges both for businesses and researchers. We identify issues behind the apparent challenges of Privacy and GDPR in GBMI and discuss how strategic GBMI can contribute to further research on Privacy and GDPR in different fields of Green Business Modelling, offering future research directions of Privacy and GDPR.

Digital technology integration in business model innovation for carbon neutrality: An evolutionary process model for SMEs

This study delves into the strategies employed by small and medium-sized enterprises (SMEs) to embed digital technology into their business models, aiming to reach carbon neutrality. We offer a comprehensive analysis of five high technology SMEs, unveiling an evolutionary process model that highlights their journey toward integrating technology. The integration process is delineated into three progressive stages. Initially, digital technology is seen as an ‘enabler’ that promotes the birth of an innovative business model, essentially transforming the mechanisms of value creation, delivery, and capture. As SMEs evolve to an intermediate stage, digital technology becomes a ‘disruptor’, reshaping and reinventing the business model in terms of how value is created, delivered, and captured. Entering the maturity stage, digital technology is elevated to the role of ‘expertise’, leading to a sophisticated business model that refines and optimizes these aspects of value. The influence of these business model innovations on carbon neutrality is complex and varies distinctly with each stage, reflecting the dynamic interplay between digital technology and business model evolution.

Business Model Development at Multifinance Agency (Study of Keday Adira Finance)

Business Model Development at Multifinance Agency (Study of Keday Adira Finance)

Digital transformation as a catalyst for business model innovation: A critical review of impact and implementation strategies

This study critically examines the transformative impact of digitalization on business models and identifies effective implementation strategies for navigating digital transformation. The primary objective was to explore how digital technologies act as catalysts for innovation within business models, assessing both the opportunities and challenges they present. Through a systematic literature review and content analysis, this research analyzed peer-reviewed articles and conference papers published between 2014 and 2024, focusing on the integration of emerging technologies such as AI, IoT, and blockchain into business practices. The methodology involved a comprehensive search across multiple databases, adhering to strict inclusion and exclusion criteria to ensure the relevance and quality of the literature. The analysis revealed that digitalization significantly enhances business agility, customer engagement, and operational efficiency, driving the evolution of traditional business models towards more adaptive, data-driven frameworks. Key insights highlight the necessity for organizations to embrace a culture of innovation and continuous learning to leverage digital transformation effectively. Strategic recommendations for practitioners emphasize the importance of developing digital literacy, fostering collaborative ecosystems, and aligning digital initiatives with broader business objectives. The study also discusses policy implications, urging the creation of supportive regulatory environments that facilitate digital innovation while addressing concerns related to data privacy and workforce displacement. Finally, this research underscores the critical role of digitalization in shaping the future of business models and outlines avenues for future research to bridge existing knowledge gaps and explore emerging digital trends. The findings serve as a valuable guide for business leaders, policymakers, and scholars in navigating the complexities of digital transformation.

Best Business Models for the Fast-Moving Consumer Goods Sector: Patterns for Innovation

Mankind’s consumption exceeds our natural resources, so among other things, the development of new business models at the company level is needed. This paper aims to generate systematic business model innovations in the field of fast-moving consumer goods using business model patterns to foster sustainability. Based on a literature search, the most relevant patterns for the industry are identified as part of a multi-stage selection process that is based on the value generated by the patterns. Expert surveys are the central instrument for data collection. Here, the connection of the patterns to the strategy is central. The result is a list of relevant patterns, which includes patterns from completely external industries. This is the first evaluation of its kind, which shows that patterns focusing only on the circular economy are not enough to succeed and, therefore, break the scientific paradigm.

Territorial Impact Assessment for Coal Sites in Transition

This article describes a part of the POTENTIALS project promoted by the Research Fund for Coal and Steel (RFCS) of the EU, which, in general, has aimed to develop business models for the reuse of former industrial and mining sites in different European regions. The goal of this project focused on the creation of so-called eco-industrial parks to enable sustainable energy production and reduce waste and pollution on coal sites in transition. A key aspect was the development of a suitable territorial impact assessment (TIA), a new and complex policy tool for the assessment of the territorial impacts of EU policies and projects on territorial cohesion. Therefore, the special TEQUILA (Territorial Efficiency, Quality and Identity Layer Assessment) approach is used to describe the TIA for this case and emphasizes its application in assessing ex ante the impacts of the transition from a coal site to an eco-industrial park. It underlines the need for a differentiated understanding of the regional characteristics and potential impacts of transition policies or projects. Furthermore, the process and results of applying the TEQUILA methodology, a multicriteria analysis, in the context of regionalized impact models has shown how important it is to select well-defined, expert-based criteria, but at the same time, to establish a system that is flexible and adaptable to the needs of political decision makers and stakeholders considering the normative weights of the criteria. This has been illustrated by some examples.

The relationship between digital orientation, organizational ambidexterity, and growth strategies of rural SMEs in time of crisis

The rapidly changing digital landscape presents a new context highlighting growth strategies and organizational ambidexterity. This research explores the interaction between growth strategies of rural SMEs, digital orientation, and organizational ambidexterity during the COVID-19 pandemic. The survey data comprised 204 responses from Finnish SME owner-managers in the rural region of South Ostrobothnia in October 2021. The results from the ordinal regression analysis demonstrate that organizational ambidexterity positively influences the utilization of all growth strategies, serving as a mediator in the relationship between digital orientation and these strategies. Digital orientation is positively associated with applying a product/service development strategy, market development strategy, diversification, and business model development but not with market penetration strategy. These findings suggest that a digital orientation enables SMEs to strike a balance between exploration and exploitation, allowing them to effectively pursue both. Furthermore, digitalization offers rural businesses opportunities to implement more demanding growth strategies. Therefore, to ensure the long-term vitality of rural areas, society and policymakers must collaborate in providing robust digital infrastructure.

THE NEED FOR BUSINESS MODELS IN ACCESSIBLE, INCLUSIVE AND SUSTAINABLE TOURISM

Objective: Accessible, Inclusive and Sustainable Tourism has gained significant prominence, reflecting a growing global awareness of the need for inclusive and environmentally responsible travel practices. The literature gap found regarding the absence of a comprehensive business model is the main goal of this research. Theoretical Framework: This study systematically compiled and evaluated the recent research studies on Accessible, Inclusive and Sustainable Tourism to contribute to the evolution of business models in the broader scope of tourism and tourism services. Method: A three-step process was followed to achieve this goal, comprising an initial research phase and a detailed performance analysis using various bibliometric techniques and visualisation tools, culminating in carefully selecting pertinent articles. Results and Discussion: The study confirmed the scarcity of articles that address this topic, with a tendency to conceptualise entirely new business models instead of adapting existing frameworks with new value propositions making them more accessible, inclusive, and sustainable. Research Implications: The practical and theoretical implications of this research provided insights into how the results can be applied or influence practices in the field of tourism. These implications could encompass all tourism areas, from hospitality to restaurant offers. It presents an important managerial clue to guarantee the tourism businesses' true inclusiveness and sustainable characteristics. Originality/Value: This study contributes to the literature by filling a gap. The relevance and value of this research are its managerial contributions, which confirm the need to incorporate characteristics of accessibility, inclusion and sustainability into any tourism business model.

AI technologies affording the orchestration of ecosystem-based business models: the moderating role of AI knowledge spillover

Due to the extraordinary capacity of artificial intelligence (AI) to process rich information from various sources, an increasing number of enterprises are using AI for the development of ecosystem-based business models (EBMs) that require better orchestration of multiple stakeholders for a dynamic, sustainable balance among people, plant, and profit. However, given the nascency of relevant issues, there exists scarce empirical evidence. To fill this gap, this research follows the affordance perspective, considering AI technology as an object and the EBM as a use context, thereby exploring how and whether AI technologies afford the orchestration of EBMs. Based on data from Chinese A-share listed companies between the period from 2014 to 2021, our findings show an inverted U-shape quadratic relationship between AI and EBM, moderated by knowledge spillover. Our results enhance the understanding of the role of AI in configuring EBMs, thus providing novel insights into the mechanisms between AI and a specific business practice with societal concerns (i.e., EBM).

Trading war: Evolving landscape of discount brokerage in India

The case study chronicles the evolution of Trading Tech sector in India, focusing on the emergence of the digital discount brokerage model. The case delves into the brokerage industry disruption in India, comprising primarily of Industry 4.0-based technological advancements, regulatory policies, and consumer demand shifts. India, a developing economy that was largely characterized by traditional modes of financial transactions, brokerage, and wealth management, shifting to predominantly digital modes with the advent of technology, makes an interesting context. This case sheds light on Zerodha and Groww, India’s biggest online discount brokerage companies, their background, and business model evolution. We intend to make the readers aware of the industry dynamics, the specific business model of the two leading brokerage firms in India, and their challenges. The readers can use various strategy and innovation frameworks to evaluate the strategic choices and business models adopted by the firms and the strategic challenges that need to be addressed to achieve sustained advantage in the financial services market.

Stakeholders self‐organization and adaptive governance in social enterprises: Membership representation, worker control and client orientation

AbstractThe article uses elements of complexity theory, social systems theory, and new institutionalism to analyse stakeholder self‐organization in Italian non‐profit social enterprises. Organizational development goes through an evolutionary process of trial and error, in which stakeholder self‐organization produces governance rules and routines to achieve adaptation and resilience in a changing socioeconomic environment. Survey data regarding social cooperatives, which are prevalent in Italy as a form of social enterprise, display how diverse stakeholders engage in self‐organization and self‐positioning within key governance bodies of membership and board of directors. The results demonstrate that in the absence of investor ownership, producers, especially paid staff but also volunteer workers, assume the main responsibility for decision‐making and control. Client orientation, the production of economic and social value in favour of customers and users, is achieved in a context of high relational intensity through participation in the co‐production and co‐creation of services, as well as the pooling of non‐commercial resources and favourable price discrimination, less through participation in decision‐making and control. This emerging evolutionary pattern can support the development of new organizational and business models for social enterprises.

Enhancing Fundraising with Digital Transaction in Indonesia: A Systematic Literature Review (SLR)

This research uses the Systematic Literature Review (SLR) method to investigate the optimization of collecting Zakat, Infaq and Sadaqah funds through digital transactions. The data analysis process uses the PRISMA diagram and includes the stages of identification, search, selection, data collection and analysis. From three main sources, researchers collected 20 references, consisting of theses and journals, which were analyzed to identify findings related to collecting ZIS funds with digital transactions in Indonesia. The results reflect the digitalization trend, where zakat institutions are increasingly using information technology to increase efficiency, accessibility and transparency in the process of collecting ZIS funds. This trend involves utilizing mobile applications, QRIS, and digital platforms, enabling faster and more efficient fund collection. Other benefits include ease of access, increased transparency, and more effective involvement of muzakki. Using digital technology also enables data analysis, better fund management and the development of sustainable business models. The COVID-19 pandemic has triggered new strategies in collecting ZIS funds, with zakat institutions turning to social media and digital platforms as alternatives to raise funds. Online payment services with mobile QR Codes are key in maintaining the continuity of ZIS fund collection amidst physical restrictions. Socialization efforts, easy access, and partnerships with various parties are the main strategies for zakat institutions to remain relevant and effective in facing the challenges of the pandemic. This research focuses on the central role of digitalization in increasing the efficiency and effectiveness of collecting ZIS funds, such as paying attention to social changes, namely the COVID-19 pandemic. By using digital technology, zakat institutions can continue to innovate and meet the needs of muzakki, so that they continue to play their role in helping people in need.

Business model development for ophthalmic surgical knife in eye surgery

Business model development for ophthalmic surgical knife in eye surgery

IoT-Based HydroM8 Self-Watering Plant: A Design Thinking Approach and Business Model Analysis

The Internet of Things (IoT) generates new business opportunities by connecting physical objects with a multitude of sensors. IoT research mainly focused on technology and business models are relatively unexplored, although developing IoT business models is important for successful IoT service. The aim of this research is to prototyping business model for IoT development HydroM8 Self-Watering Plant. This research has a generic design thinking framework and business model for IoT through literature analysis and interviews. To create the developing of the HydroM8 Self-Watering Plant, the researcher undertakes case studies of a group of students who are in the process of finding problems, creating ideas, design product, to testing the HydroM8 Self-Watering Plant product using IoT that combines internet technology and smartphones. In addition, a group of students also made a Business Model which will later be used as planning, especially in the Competitive Advantages, Key Resources, Key Partners, Cost Structure to added value and sell products that will later be marketed to consumers. This research acts as a starting point for designing or developing business models for IoT services. The findings suggest that the HydroM8 Self-Watering Plant has a considerable chance of success rate for potential users, especially those who like to water plants but do not have enough time. The HydroM8 Self-Watering Plant can be a tool for caring (watering plants automatically) and this tool can provide information to users when their plants have been watered. This HydroM8 Self-Watering Plant has the potential to significantly impact for the community of agriculture sector and promote sustainable water use efficiency.

Culinary MSME Business Development Model Post the COVID-19 Pandemic

The objective of this study is to examine the influence of distribution and digital marketing on the revenue and growth of culinary micro, small, and medium enterprises (MSMEs) in Jakarta. The research used quantitative research, and the sample consisted of 251 owners of MSMEs in the culinary sector in Jakarta. The data analyses were performed using the Structural Equation Model. The food distribution channel has a favorable and substantial influence on the revenue of MSMEs in Jakarta, however it does not directly impact on the growth and advancement of MSMEs. Food distribution routes have a notable indirect impact on growth. Digital marketing does not directly impact revenue, but it does have a beneficial influence on MSME's growth and expansion. The presence of operating revenue has a favorable influence on the growth and progress of MSMEs in Jakarta. The findings of this study are valuable for advancing the field of marketing science by providing insights for stakeholders, serving as input for culinary MSMEs, and enhancing understanding of the impact of food distribution and digital marketing on MSMEs' revenue and business growth. Consequently, MSMEs can adopt more effective business strategies and improve product sales. This study thoroughly investigates the direct and indirect impact of food distribution channels and digital marketing on the revenue and growth of MSMEs. This research is unique because it employs second-order confirmatory models, which address gaps in earlier studies that mostly focused on testing direct effects.

The impact of digital transformation on business development strategies: Trends, challenges, and opportunities analyzed

Digital transformation has become a crucial driver of business development, reshaping industries and redefining how companies operate. This review analyzes the trends, challenges, and opportunities arising from this transformative process. Companies are increasingly adopting digital technologies such as cloud computing, AI, IoT, and big data analytics to streamline operations, improve customer experiences, and drive innovation. Digital transformation has led to a focus on understanding and meeting customer needs through personalized experiences and targeted marketing strategies. COVID-19 pandemic accelerated the adoption of remote work and digital collaboration tools, leading to new ways of working and collaborating across teams and organizations. Many organizations struggle with outdated legacy systems and infrastructure, making it challenging to integrate new digital technologies. As companies collect and analyze more data, ensuring data privacy and security has become a major concern. There is a growing demand for professionals with digital skills, but many organizations face challenges in finding and retaining talent. Digital transformation enables companies to collect and analyze vast amounts of data, providing valuable insights into customer behavior and preferences. Automation and digital technologies can streamline processes, reduce costs, and improve efficiency. Digital transformation opens up new opportunities for innovation and the development of new business models, enabling companies to stay competitive in a rapidly changing market. Digital transformation is reshaping business development strategies, driving innovation, and creating new opportunities for growth. However, it also presents challenges, such as legacy systems, data security, and skills gaps, that organizations must address to fully realize the benefits of digital transformation.

Engaging Paradoxical Tensions in Cross-Sectoral Collaborative Business Model Development for Sustainability: A Case Study in the Urban Energy Transition

This article presents an in-depth case study on cross-sectoral collaborative business model development (CBMD) that is pressured to produce systemic sustainability transformations. Drawing on paradox theory, we identify three paradoxical tensions—value, creativity, and consumer tensions. While engaging these tensions offers synergy and creativity potential, engagement barriers limit stakeholders’ ability to harness this potential. Stakeholder networks can access synergy potential by engaging meso-level tensions through increased trust and collaboration. Yet, macro-level engagement barriers posed by governments and society lead to a reliance on incumbent patterns and reduce creativity. This research advocates for reconsidering CBMD processes and regulatory frameworks to enable engagement with these paradoxical tensions. Our implications offer insights for industries transitioning from centralized models to more individualized, decentralized approaches. The findings underscore the necessity of promoting reciprocal interactions and engagement across different levels and the early integration and strategic orchestration of stakeholders to cultivate trust and align objectives.