Identify Business Models Research Articles

Business models of Polish fuel and energy companies in integrated reports

The business model is undoubtedly a new issue in scientific research and currently enjoys great popularity, in recent years, it has attracted increasing attention in relation to both financial and non-financial corporate reporting. The purpose of the article is to identify business model disclosures of fuel and energy companies in Poland presented in integrated reports. The study, which examined 70 integrated reports for 2013 and 2021, involved analysing disclosures of information about the business model, analysing the content of integrated reports of companies and checking the scope and content of disclosed information in the part of the report concerning the business model. The content analysis method was used in the study, and the Likert scale was used to measure the level/quality of disclosures. The quality assessment of business model disclosures in integrated reporting is comprised of two steps: analysis of average scores of disclosures in each of the analysed years and case study analysis to compare the practical approach to disclosing information about the business model. The findings proved that the business model disclosures are at a high level. In most cases, the companies use the capital approach, complementing the business model presentations with value creation schemes. The results of the study allow for a better understanding of the logic of running a business of fuel and energy companies for all stakeholders. The article is the result of original empirical research concerning the analysis of non-financial information disclosed by Polish companies and fills a gap in scientific research on disclosing information about the business model in integrated reports. The research presented in the article contributes to the current literature on integrated reporting by using the novel dataset.

Analysis of apple chips business development strategies using business model canvas approach and SOAR-AHP method

The study focuses on SMEs X, a producer of various processed fruit products, primarily apple chips. The business experienced a 90% decline in revenue due to an 8-month market closure during the Covid-19 pandemic, with ongoing challenges such as reduced revenue and production capacity post-pandemic. This study aims to identify business models in SMEs using the Business Model Canvas (BMC) approach, develop alternative business strategies through SOAR analysis of BMC elements, prioritize these strategies using the Analytical Hierarchy Process (AHP) method, and enhance their BMC. Four expert respondents participated in the study. The research results highlight the current business conditions across the 9 BMC elements. The SOAR matrix produced eight alternative strategies, prioritized using the AHP method, including optimal production planning and scheduling (OR2), strengthening apple chips brand awareness (OA2), disseminating freeze-drying production technology innovations (OA1), developing business unit production (SA2), expanding the marketplace (SA1), maximizing the use of social media (OR1), product quality standardization (SR1), and forming partnerships with other fruit chip SMEs to innovate freeze-dried products (SR2). The BMC was further developed by integrating SR2 and OA1 into the key partnerships element, SA2 into the key resources element, OA2, OR1, and OA2 into the key activities element, SR1 into the value proposition element, and SA1 into the channel element.

Innovation of the finished banknotes business model changes in Indonesian banknotes printing

Perum Peruri, as a state-owned banknote printing company, needs to do business model innovation to anticipate change in printing regulation by Bank Indonesia (BI). The finished banknotes business model is the submission of the entire process to provide end-to-end Rupiah. This research analyzes the impact of business model banknotes printing changing into finished banknotes against Perum Peruri. Data were collected through in-depth interviews with experts and distributing questionnaires to 44 respondents working at this company. Business Model Canvas (BMC) and Resources Based View (RBV) were used to identify business models and the internal resources required for the implementation process. Therefore, six elements in BMC were used to conduct changes, and based on the results RBV analysis, four sources of internal resources were found at the Unused Competitive Advantages (UCA) level and two at the Temporary Competitive Advantages (TCA) level. This company must develop source power inner to the level of Sustainable Competitive Advantages (SCA) to mitigate changes. Further research need to be conducted on the ability of the business model to impact changes in the banknotes printing industry.

Business model configurations for successful vertical farming

PurposeAs a response to global population growth and increasing demand for food, farmers have been complementing traditional agriculture practices with vertical farming (VF) and indoor hydroponic systems. To facilitate the growth of the VF industry, this paper aims to identify business model elements and their configurations that lead to high firm performance.Design/methodology/approachThe research goals were met by conducting literature reviews coupled with a fuzzy-set qualitative comparative analysis (fsQCA) on five business model elements, “superior” OR “strong” performance as two possible outcomes, and the top-ranked global VF growers listed in the Crunchbase Database.FindingsFrom the fsQCA results, it was observed that several business model configurations lead to strong firm performance. Vertical farms growing in urban settings and having strong customer engagement platforms, coupled with a presence of business-to-business (B2B) sales channels, are more consistently associated with superior performance. These results imply that the decision configuration of location, along with customer engagement activity and sales activity are differentiating factors between good firm performance and superior firm performance in the case of vertical farms.Originality/valueThis paper contributes to expanding the knowledge of business model theory, business model configurations and VF management, providing specific guidelines for vertical farm owners and investors related to decision-making for higher firm performance, as well as positive environmental, social and economic impact.

Vegetable distributor business development strategy (Case study at PT XYZ)

The vegetable and fruit commodity business has good prospects for continued development. Vegetable production continues to increase from year to year. On the other hand, Indonesian people's consumption of vegetables is still low. PT XYZ is a company operating in the vegetable distributor sector. It faces the challenges of increasingly fierce competition and changes in customer purchasing patterns since the Covid-19 outbreak. The aim of this research was to identify business models, formulate alternative strategies, formulate priority strategies and formulate new business models that can be implemented to develop PT XYZ's business. Identification of PR XYZ's business model was carried out using the Business Model Canvas (BMC). Next, a SWOT analysis was carried out on the 9 elements of the Business Model Canvas, the results of which were also used to carry out IE analysis (EFE and IFE). From the IE analysis, PT XYZ's position was in quadrant V (Hold and Maintain). Commonly used strategies are Market Penetration and Product Development). From SWOT Matrix analysis (SO, WO, ST and WT). on the key factors of EFE and IFE, alternative strategies were obtained which were then prioritized using the Quantitative Strategic Planning Matrix (QSPM), namely: forming a research and development section, evaluating vegetable processing processes, developing vegetable derivative products, carrying out more active marketing activities, developing marketing to the hotel, restaurant and cafe (HOREKA) segment, mapping vegetable suppliers, developing marketing to the online segment, creating a cooperation program that can bind suppliers, and opening a warehouse in Jakarta to reduce costs.

Business Coaching to Develop Hi Kuliner Production Processes through Business Model Innovation

Small and Medium Enterprises (MSMEs) in the Indonesian economy have been recognized as having a role in both absorbing labor and contributing to the Gross Domestic Product (GDP). However, MSMEs often face challenges in fundamental business aspects, such as planning, management, business models, innovation and business processes. This case study examines MSME assistance in Indonesia using internal VRIO analysis, Market Segmentation, external PEST analysis, Porter's Five Forces, Business Model Canvas, and SWOT to identify business model improvements, especially in key activity blocks. The research results emphasize the importance of developing and updating key activities that are in line with the MSME business.

The Role of Bumdes (Village-Owned Enterprises) in Strengthening the Tourism Village Business Ecosystem: Sumberbulu Tourism Village Case Study

This study aims to identify business models and develop a model for strengthening BUMDES in managing tourism villages that are synergized in a value chain with related businesses in tourist villages (a case study in Sumberbulu Tourism Village, Karang Anyar Regency, Central Java, Indonesia). This study uses a descriptive method with a quantitative approach to identify BUMDES business models based on the tourism value chain and develop a model for strengthening the management of tourism villages that are synergized with businesses in a value chain with related businesses in tourism villages. This research was conducted in three stages, namely diagnosis, assessment by conducting a tourism value chain analysis conducted by BUMDES, and recommendations. This study found that in general, the role of BUMDES in maintaining the sustainability of the value chain in tourism business activities in Sumberbulu Tourism Village is quite good. However, there are several things, such as the quality of Human Resources in running the business and supporting facilities that still need to be improved

Priority Strategies for Sustainable Community-Based Ecotourism Management on Kaniungan Besar Island, Indonesia

The primary objectives of this study was to identify business models to serve as the basis and offering alternative planning strategies for managing sustainable eco-tourism. To support these objectives, some methods were employed, including field observations and in-depth interviews applying questionnaires with stakeholders and visitors. Also, BMC and QSPM integration models were applied to determine the main alternative strategies. Results revealed that the existing eco-tourism management did not fully resolve the weaknesses and threats. Thus, it is also not in line with the sustainable eco-tourism requirements. However, current management strategies in the study area will likely improve and achieve maximum progress if stakeholders consider its opportunities and strengths. The most priority for the strategy for sustainable eco-tourism management is formulating model of carrying capacity.

Implementing sustainable innovation in state universities: Process and tools

Universities have the vision, the knowledge and the power to lead the change towards a more sustainable world. However, there is a lack of studies investigating how universities can systematically reorient themselves to help society become more sustainable. In general, a research gap exists in the implementation of the business model innovation process, in the tools that should be used to pass from the design stage to implementation and in the identification of the main challenges that may hinder this process. This paper adopts the concept of a sustainable business model for interpreting the core logic through which universities create value for themselves, society and the environment. In the first stage of research, a theoretical framework was proposed for diagnosis of the integration of sustainability in the business models of universities. This framework was applied in the context of Italian state universities to identify business models with different degrees of strategic orientation towards sustainability. Now the research aim is to examine the processes and tools used and challenges faced by Italian state universities when implementing sustainable innovation. A multiple-case study is carried out on four Italian state universities showing a high level of integration of sustainability in all elements of the business model. The combination of both quantitative and qualitative data, and the patterns observed across cases, led to the presentation of five theoretical propositions, which were summarized in a preliminary model of the processes, tools and challenges involved when implementing sustainable innovation in higher education. The main theoretical contributions of this study are the advancement of knowledge regarding the dynamics (process) and the elements (tools) for the implementation of sustainability strategies in state universities, and the provision of a new causal map of the relationships among the variables that affect sustainable innovation in higher education.

A conceptual methodology to screen and adopt circular business models in small and medium scale enterprises (SMEs): A case study on child safety seats as a product service system

While small and medium enterprises are already aware of the increasing benefits of resource efficiency, reducing waste, and closing material loops, the adoption of circular economy principles in small and medium enterprises is still nascent. Despite a large body of academic literature providing numerous definitions and business models to elucidate circular economy, these approaches lack systemic research from a small and medium enterprise's perspective and are often vague and overwhelming. Furthermore, small and medium enterprises lack financial and organizational resources to implement a (systemic) change to their already optimized business models. This paper addresses this knowledge gap by presenting a conceptual approach that not only serves as a decision-making tool and a possible starting point towards circular value creation, but also provides an initial estimation on how well forms of circularity can be achieved within the adapted business models. The developed methodology was applied to a complex product within the plastics sector. Starting with the product-disassembly-workshop, an in-depth analysis to identify various circular concepts was then conducted, using design thinking tools. The results are presented and summarized in the form of a decision tree analysis. Using a contradiction matrix and environment mapping tool, it was then attempted to narrow down the circular solution spectrum to a manageable level. To conclude, a cross impact balance analysis was applied to validate the identified business model scenarios. The presented methodology aims to show small and medium enterprises how to generate business model innovations systematically, narrow down the solution space in a structured manner, and how to evaluate the resultant solution options against each other and weigh their trade-offs. The tools and techniques used were chosen in such a way that they can be applied with as few resources and complexity as possible, and therefore can serve as a guidance for small and medium enterprises in their transition towards circular value creation.

Identifying Business Models for Blockchain-based FinTech Solutions in India

Identifying Business Models for Blockchain-based FinTech Solutions in India

Identifying business models for blockchain-based FinTech solutions in India

Identifying business models for blockchain-based FinTech solutions in India

Business models on peatlands to prevent land and forest fires

Peatlands nowadays, most of it has been degraded due to land and forest fires. The Indonesian government through The Peatland Restoration Agency has attempted to carry out peat restoration through three pillars. Revitalization is one of the restoration pillars besides rewetting and replanting, it seeks to improve the community livelihoods. The objectives of this study are to identify business models that have developed in the community and to analyze the mechanisms that occur in those business models in preventing forest and land fires. The research was conducted at the Peat Hydrological Unit of Mendahara-Batanghari, Jambi Province. In-depth interviews were conducted with respondents who were obtained by the purposive sampling method. Data and information then were analyzed descriptively qualitatively. Based on the field research this study found that the business models which can prevent forest and land fires are the rice field and horticulture business model, areca nut cultivation and utilization, liberica coffee agroforestry, pineapple cultivation, honey/beekeeping, jelutong agroforestry, ecotourism, and carbon trading. This study concludes that these business models have similar characteristics in preventing forest and land fires, namely land use adjusting the peat depth zoning with native peat species, non-timber forest products, and agroforestry patterns; intensive land management; utilization of biomass so that it does not become fuel during the dry season; maintaining peatlands in humid conditions through water management, and maintaining forest cover.

Morphology for circular economy business models in the electrical and electronic equipment sector of Singapore and South Korea: Findings, implications, and future agenda

Moving to a circular economy requires manufacturers and producers to rethink their business model for a stronger value proposition and delivery. Many businesses have implemented circular economy business models (CEBMs) with different design options to accomplish sustainable business goals and economic prosperity. However, the unexplored options in the design of CEBMs can be a significant obstacle in the transition to a circular society. This paper seeks to investigate the CEBM design options currently reported in the Electrical and Electronic Equipment (EEE) sector of Singapore and South Korea, proposing a research agenda to advance circular economy research in both countries. In this systematic review, we follow four basic dimensions in a business model, value proposition, value delivery, value creation, and value capture, in a morphological analysis of 119 publications to identify business model design options in the Electrical and Electronic Equipment sector of Singapore and South Korea. Our findings showed that producers in both countries were similar in their intentions yet adopted different approaches regarding the four dimensions. In Singapore, result-oriented CEBMs and cooperation with the local government and community emerged as major design options. On the other hand, in the South Korean context, rental or leasing business models using the membership system with personalized home visiting service and the use of digital capabilities were rampant. These findings are expected to help producers and practitioners understand and adopt better design options to drive their business models, highlighting the agenda to further investigate digital servitization and consumer acceptance in CEBMs.

Genetic-based personalized nutrition in Hungary – is there a viable business model?

A move from population-based nutrition guidance toward personalized nutrition may offer a more effective strategy than before to improve dietary habits of citizens worldwide. However, a significant number of consumers are not willing to adopt the highest level of personalization, i.e., gene-based personalized nutrition. The purpose of this paper is to examine whether there is a viable business model for genetically based personalized nutrition services in Hungary, and what business model would promote a higher level of consumer acceptance of the new technology. As a first step, a systematic Internet search was conducted to gather personalized nutrition counselling services that meet four criteria: they are related to nutrition; show some level of personalization; offer a product or service; and use some kind of consumer information to personalize a product or service. The second step was an expert content analysis of the service providers’ websites to identify the nine elements of the Business Model Canvas, based in which business model archetypes were identified. We can conclude that the vast majority of services available in the Hungarian market are based on phenotypic information; gene-based personalized nutrition is only rarely found. Our results suggest that business models of the Hungarian market differ significantly from the models identified by previous research. Of the eight identified business model archetypes, the “All in one place” model would promote a higher level of consumer acceptance of nutrigenomics-based services. JEL code: I12, M31

Business models for integration of sustainability in universities: An explorative analysis of Italian state universities

Although the leadership role of higher education in creating a sustainable development has been widely recognized, there is a paucity of studies following a strategic perspective to explain how universities integrate sustainability in the different areas of their activity to gain a competitive advantage and contribute to the sustainable development of a broad range of stakeholders. More empirical research on the design and implementation of strategies and operations developed by universities to re-orient themselves towards sustainability has also been required, as well as systemic frameworks for evaluating sustainability performance in higher education. This paper addresses these gaps by proposing a conceptual framework for diagnosis of the integration of sustainability in universities from a strategic perspective. In particular, the concept of a sustainable business model is first contextualized to higher education and then used for interpreting the core logic through which universities create value for themselves, society and the environment. In order to assess the applicability and usefulness of this framework, a cluster analysis of all the 61 Italian state universities is used to identify business models with different degrees of strategic orientation towards sustainability and to start discussing the relationships between sustainable business models and university size, geographic location and performance.

Reconfiguring the construction value chain: analysing key sources of friction in the business model archetypes of AEC companies in strategic partnerships

Lack of innovation and productivity in the construction industry compared to other industries is often explained by the institutionalised roles and fragmented nature of the construction value chain. Closer connections and collaboration (such as strategic partnerships) among architecture, engineering and construction (AEC) companies and across the values chain is often prescribed as a strategy to improve the performance of the construction industry. However, the institutional roles of AEC companies and their archetypical business models serve as important reference points for the sector. How these business models interact, and the friction created when they come in close contact is not well researched and understood. This paper identifies business models archetypes for architect, engineer, contractor and materials supplier based on workshops and interviews with practitioners. Friction is identified in and between the business models of AEC companies engaging in strategic partnerships. The analysis shows that architect archetypes face friction with regard to their profit formula and could benefit from profit sharing. The engineering archetypes face friction in their processes since they have to coordinate with specialists from other companies. Contractor and supplier archetypes face friction in their profit formula since the open books force them to alter business practices.

Startups versus incumbents in ‘green’ industry transformations: A comparative study of business model archetypes in the electrical power sector

Scholars have recently argued that startups and incumbents play differential roles in the disruptive transformations of industries toward sustainability and that the transformations are only likely to succeed if both startups and incumbents contribute. To understand their respective contributions and, thus, to understand how industries make the transition toward sustainability, comparative studies of incumbents versus startups during this transformation have been identified as a central pursuit, but yet they are mostly lacking. Since business models have become a principal way of characterizing firms, the present study takes a business model perspective and derives business model archetypes in the electrical power sector from an analysis of 280 startups and incumbents in three different countries. The selected countries (USA, UK, and India) represent three different energy profiles and leading instances of disruption in the energy sector. The article, then, undertakes a comparative analysis of startups and incumbents based on the empirically distilled business model archetypes and develops propositions on startups, incumbents, and business models in industry transformations. This analysis produces several important insights. First, incumbents do not seem to engage in less business model experimentation than startups. Second, incumbents have adopted several new business models that are not pursued by startups. Third, startups have espoused some business models that are not pursued by incumbents. Fourth, foreign firms can also affect the ‘green’ transformation of an industry in a focal country. Finally, the identified business model archetypes are likely to be of interest to scholars and practitioners who are seeking an improved understanding of business models in the electrical power industry and the industry's competitive landscape.

Business model patterns in the sharing economy

Sharing platforms struggle to remain financially viable and preserve their prosocial and environmental aspirations; therefore, effort to empirically study successful sharing economy business models (SEBMs) is needed. The aim of this research is to identify business model patterns among existing SEBMs in order to suggest business model attributes that support successful implementation. Patterns describe one or several recurring business model attributes observed among existing business models. This study investigates 63 SEBMs across 93 different configuration options. The k-medoids clustering approach was used to identify configuration options recurring repeatedly across the data. The empirical results were triangulated with existing business model patterns from literature. The study presents a framework to describe and analyse SEBMs; eight prototypical patterns, with a corresponding list of relevant business model attributes; and six solution patterns unique to the sharing economy. The patterns – as well as insights across locations, shared practices, and platform types – advance knowledge on the sharing economy. Furthermore, these patterns support sharing platforms to communicate, learn, and experiment, ideally supporting successful implementation of SEBMs.

Issues and challenges of IFRS 9 in Malaysian Islamic financial institutions: recognition criteria perspective

Purpose The purpose of this paper is to investigate the effects and challenges of the new amendment of International Financial Reporting Standards (IFRS) 9 in Malaysia from the perspectives of regulators, auditors, accountants and academicians in Malaysian Islamic financial institutions. For the purpose of this study, this paper focuses on the recognition criteria perspective of the standard, which provides a basic understanding of the financial reporting framework. Design/methodology/approach Using 10 series of semi-structured interviews undertaken with key individuals in regulatory bodies, audit companies, full-fledged Malaysian Islamic Banks and Malaysian higher learning institutions. Findings The findings revealed that IFRS 9 strengthens International Accounting Standards 39 in terms of relevance and reliability, recognition of financial instruments and identification of business models. Nevertheless, Islamic financial institutions face challenges in terms of a faithful representation of fair value, substance over form, identification of financial instruments before recognition criteria and the extent of the role of risk management in reducing manipulation in identifying business models. Research limitations/implications This study provides implications to regulators and standard setters in Malaysia to enhance the quality of financial reporting framework and practices in Islamic financial institutions in this country using IFRS 9. Practical implications Practically, the findings of this study can be used by the regulators to resolve the issues that arise in adopting IFRS 9 among Islamic financial institutions to further enhance financial reporting quality. Originality/value The findings of this study are very important to ensure that the adoption of IFRS among Islamic financial institutions are in line with Sharīʿah principles. To date, no studies have been done on the challenges of adopting IFRS 9 among Islamic financial institutions in Malaysia.