Business Models In Industry Research Articles

Evaluating the adoption barriers of circular business models in the Ghanaian construction industry

PurposeTo transition into a green/circular economy (CE), both academics and industrialists have undertaken research into various areas of circular business models (CBM), yet despite numerous studies conducted, the ensuing discourse contains scant information regarding the barriers to CBM adoption in the built environment. Therefore, this present study explores the critical barriers hindering the adoption of CBM in the Ghanaian construction industry (GCI), establishing the criticality of the principal barriers identified.Design/methodology/approachThe mixed philosophies of interpretivism and postpositivism were adopted to deductively analyse primary data collected via a survey questionnaire. A comprehensive literature review was first conducted to identify the barriers of adopting CBM in the construction industry. Data gathered from professionals with knowledge of CBM and the green/CE were then analysed using descriptive statistics and inferential fuzzy synthetic evaluation.FindingsEmergent barriers to CBM adoption in the GCI were identified as institutional barriers (i.e. inadequate technology development and transfer, insufficient green incentives in the industry and lack of institutional framework that promote); proficiency barriers (i.e. lack of understanding of circular business models, inadequacy of expertise amongst construction professionals, unfamiliar techniques associated with circular business models and fear of greater investment cost) and cultural barriers (i.e. cultural reluctancy of clients to embrace circular urbanization, inadequate measurement tool, lack of a culture that encourages community engagement in environmental decision-making, inadequate performance information and database, lack of prior experience of stakeholders, inadequate government policies, low public awareness and lack of manufacturer and supplier support). The fuzzy synthetic analysis confirmed all the principal barriers as critical. These barriers had a respective criticality index of 3.66, 3.59 and 3.39. Evidently, the CBM adoption in the GCI faces major challenges and consequently, sector stakeholders must strategize their organizational undertakings to transition their traditional business models towards innovative circular ones.Originality/valueThis study provides a novel and thorough evaluation on the barriers to CBM adoption and establishes the criticality of the identified barriers. The study's findings offer essential direction to GCI stakeholders and policymakers to facilitate the shift towards a CE in accordance with the United Nations' Sustainable Development Goals (SDGs).

Research trends in innovation ecosystem and circular economy

Understanding innovation ecosystems and the circular economy is crucial for systemic change in business and industry, fostering eco-innovation and advancing sustainable development. This study uses bibliometric analysis to uncover the research trends, patterns, and collaborations, revealing a significant gap in understanding the interactions between innovation ecosystems and the circular economy and offering potential avenues for future research that align with sustainable development. The analysis was carried out with the help of Biblioshiny and VOSviewer on the final selected documents of 2981 from the Scopus database through a search query and the SPAR-4-SLR stages of filtration. The key findings of the study are as follows: collaboration among countries involves accessing countries’ resources, knowledge, markets, and location. The study explores research trends in the innovation ecosystem and circular economy, focusing on five key clusters: the circular economy for eco-innovation and resource recovery, circular business models for fostering sustainable innovation in the bioeconomy, sustainability through renewable energy and sdgs, the sustainable business model for enhancing green innovation through entrepreneurship, and Artificial Intelligence (AI) and the circular business model in Industry 4.0. The bibliometric analysis identifies trends, research gaps, and collaboration patterns, revealing potential avenues for future exploration in industrial symbiosis, energy transition, and the system of innovation. The study analyzed only the documents available in Scopus. The exclusion of papers based on the search period, language, document type, and incomplete details are the limitations of this research and open the scope of potential future research. The findings will help existing researchers in this field as well as new researchers interested in this field by clearly understanding trends and further research scopes. The study also offers actional recommendations and practices to policymakers. Practices, and entrepreneurs for the attainment of global sustainability goals. The novelty and originality of this study rely on a thorough literature review that describes the state of the art in the innovation ecosystem and circular economy.

Retraction Note: Assessing and validating tourism business model in hospitality industry: role of blockchain platform.

Retraction Note: Assessing and validating tourism business model in hospitality industry: role of blockchain platform.

National Cultures in Times of Digital Transformation of the Travel Industry: Qualitative Exploration of Effects on Digital Business Models

Globalization and digitalization raise questions about the contemporary role of national culture. Investigating digital business models (BMs) in the travel industry, this study clarifies the effects of national cultures on them. Thirty-nine impactful aspects of national cultures— 25 institutional and 14 ideational—are identified based on qualitative research. These aspects are derived from various cross-cultural frameworks and include three newly suggested cultural dimensions. The proposed model clarifies the mechanism of the impact. The study restates the significance of national cultures in the digital era and places emphasis on the importance of both institutional and ideational sides of national cultures. The study would be helpful to practitioners in deciding on suitable places for a business opening and localizing BMs across international borders.

Research on the Food Service Industry in Central Taiwan

This study examined the changes in business models in the food service industry of Taiwan in the postpandemic era. After staying at home for a more prolonged period during the pandemic. More consumers choose to cook at home to save costs, leading to a booming homemade food market. This trend greatly increases the popularity of convenient meal kits, semi-finished products, and do-it-yourself (DIY) meal sets. It not only caters to consumers’ interest in cooking but also provide convenient and quick solutions for food preparation. Food and beverage businesses have successfully expanded their market reach by developing high-quality homemade food products and utilizing social media and e-commerce platforms for sales. The immediacy and wide audience coverage of social media economy have enabled influencers and food bloggers to directly demonstrate the use and effects of meal kits and DIY dining through live streams and short videos. This approach attracts large numbers of followers to purchase these products, thereby quickly enhancing product awareness and sales. Collaborating with social media has become an effective marketing strategy for food and beverage businesses because it increases brand exposure and allows for product adjustments and improvements based on immediate consumer feedback. This study aims to analyze the post-pandemic restaurant industry through the lens of business models. By conducting interviews with restaurant owners across various sectors in central Taiwan, the research will explore how they confronted the challenges during the pandemic and how they have adjusted their business strategies in the aftermath. The objective is to identify future strategies suitable for the Taiwanese culinary market. This study employs business model theory and interview methodology to investigate six companies within Taiwan's restaurant industry. Through comprehensive analysis, the research aims to determine how the restaurant industry should adjust its strategic direction in the post-pandemic era. The interviewed restaurants implemented various adjustments during the postpandemic period, including arranging for industry–academia collaboration, enhancing employee training and incentives, strengthening restaurant recognition and sense of pride among employees, diversifying dish presentation, improving customer service systems, providing customized services, increasing investment in social media, reinforcing supplier relations, and expanding into new distribution channels. The study results indicate that food and beverage businesses can further explore the potential of social media economy, develop more products suitable for online promotion, and continually optimize marketing strategies by leveraging data analysis and market research to meet consumer demands.

Business Models for Industry 4.0: A Book Review

The book entitled “Business Models for Industry 4.0: Concepts and Challenges in SME Organizations” discusses the challenges and opportunities faced by small and medium enterprises (SMEs) in the Industry 4.0 era. The author explores concepts such as Economy 4.0, Society 5.0, sustainable consumption, digital technology integration, and the need for customer engagement. Based on this background, the author emphasizes the importance of new business models, interdisciplinary knowledge, and continuous learning in the context of Industry 4.0 to develop value from SMEs.

Consumer data protection laws and their impact on business models in the tech industry

This study investigates the impact of consumer data protection laws on the business models of technology companies through a mixed methods research (MMR) approach. In an era where data privacy concerns are paramount and regulatory landscapes are rapidly evolving, understanding how businesses adapt their models for compliance while fostering innovation is crucial. This paper offers a detailed examination of the legislative requirements imposed by prominent global data protection laws, including the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), as well as frameworks from Asia and Africa, such as Singapore's Personal Data Protection Act (PDPA) and South Africa's Protection of Personal Information Act (POPIA). This inclusive perspective enhances our understanding of how technology businesses strategically adapt across various regulatory environments and explores the operational, financial, and strategic impacts of these laws on tech companies. Utilizing a dual-phase mixed methods research (MMR) design, the study initially analyzes quantitative data from surveys conducted with a wide range of technology firms, assessing the direct effects of data protection legislation on business operations and financial performance. This is complemented by qualitative insights drawn from in-depth interviews with business leaders and legal experts, shedding light on the strategic adaptations, challenges, and opportunities these laws present. The findings reveal a multifaceted impact, highlighting not only the compliance challenges but also the strategic opportunities for innovation and competitive differentiation that data protection laws offer. Integrated analysis of the quantitative and qualitative data provides a nuanced understanding of how tech companies navigate the complex interplay between legal compliance and business model innovation. This study contributes to the existing literature by offering empirical evidence and practical insights into the adaptation processes of tech companies in response to consumer data protection laws. It also provides valuable recommendations for both policymakers and business leaders, aiming to foster an environment where legal compliance coexists with technological innovation and business growth.

The Emergence of Data-Driven Business Models in the European Energy Industry

The Emergence of Data-Driven Business Models in the European Energy Industry

Economic Performance and Business Models in the Chinese Theatre Industry: A Comparison of Wuzhen Water Town and Huichang Theatre Village

The Chinese theatre industry, despite its rich cultural heritage, has been historically overshadowed by other entertainment forms and has faced challenges in adapting to modern market dynamics. This paper explores the economic performance and business models of the Chinese theatre industry through a comparative case analysis of two distinct tourist attractions, Wuzhen Water Town and Huichang Theatre Village. The research methodology includes a review of the industry's historical context, an examination of current economic trends, and the case study analysis of the two venues. The finding reveals that while the industry has shown growth and is gradually embracing commercialization, it still faces significant challenges, including economic sustainability, infrastructure development, and balancing authenticity with commercial interests. The case study highlights unique approaches each venue takes to address these challenges, with Wuzhen focusing on international festivals and Huichang Theatre Village aiming to be a year-round cultural hub. Both venues strive to innovate and adapt to modern audience preferences while preserving their historical and cultural significance. The Chinese theater industry is gradually emphasizing on market and commercialization, while it needs to find a balance between maintaining artistic and commercial success. By learning from the successful experiences of the West, the Chinese theater industry has the potential to achieve sustainable development and contribute economically and culturally.

Analysis of consumer preferences for new electric vehicle technologies: Can future vehicle steering system steer consumer's purchase intention?

As the mainstream of vehicle industry is moving from internal combustion engine vehicles to electric vehicles (EVs), a multi-perspective analysis of consumer preference for the new EV technology is required. Therefore, this study proposes a new framework for consumer preference analysis—a two-stage choice experiment—and conducts an empirical analysis of the four-wheel independent steering system (4-WISS). In the first stage, we analyzed consumer preference for the availability of 4-WISS in EVs. In the second stage, we investigated consumer preference for the specific technology of 4-WISS in EVs. Stated preference data were collected through a choice experiment survey, and a mixed logit model was used to quantitatively analyze consumer preference and willingness-to-pay. Results show that consumers are willing to pay KRW 19,045,098.6 (USD 13,513.9) to use 4-WISS in high-end EVs. Furthermore, consumers who are female, older, and have more knowledge of autonomous vehicles prefer 4-WISS more. We found that consumers prefer the parallel movement among 4-WISS modes, the touch display for selecting 4-WISS, the steering wheel for operating 4-WISS mode, and dashboard for displaying information. We finally discuss the new business model in the vehicle industry and suggest automakers to establish an effective strategy for the initial market for EVs with 4-WISS.

Peran Platform Weverse Sebagai Sarana Interaksi Dan Ekonomi Dalam Industri K-Pop

Weverse is a platform launched by HYBE Corporation in 2019 and has played a central role in facilitating interactions between fans and artists in the Korean music industry (K-pop). Through exclusive access to content, direct communication with artists, and a membership system offering discounts and exclusive content, Weverse has become a "home" for K-pop fans and an important revenue source in the industry's economy. This study uses a qualitative approach with a systematic literature analysis design to explore the impact of Weverse in the K-pop industry, highlighting the importance of this platform in deepening the relationship between artists and fans as well as its contribution to the business model and economy in the Korean music industry.

THE CRITICAL ROLE OF TECHNOLOGY ADOPTION AND COMPETENCY THROUGH IMPROVING TEAMWORK AND KNOWLEDGE TRANSFORMATION IN THE FURNITURE BUSINESS IN JEPARA

The Jepara furniture industry, facing global pressure and intense competition, must integrate technology and increase competence to maintain competitiveness. This article analyzes the critical role of technology adoption and competency development through improving teamwork and knowledge transformation in the context of the furniture business in Jepara. Using quantitative research methods and conducting surveys on furniture companies in Jepara, data was analyzed through questionnaires that focused on critical variables, such as technology adoption, teamwork, knowledge transformation, and business competency indicators. The research results show that technology adoption, improved teamwork, and knowledge transformation positively correlate with business competency. Technology integration provides operational efficiency, while improved teamwork and knowledge transformation improve employee skills and response to market dynamics. This article provides insight into the importance of this strategy in creating an efficient and responsive business model in the Jepara furniture industry. The practical implications include guidance for furniture business players to increase competitiveness through technology adoption, strong teamwork and effective knowledge management.

Decarbonization Drivers and Their Impact on Business Models in the Energy-Intensive Manufacturing Industry (EIMI)

EIMIs face the challenge of adapting to the Paris Agreement and the European Green Deal to achieve carbon neutrality. Driven by consumer interest in low-carbon products, regulatory requirements, and investor priorities, companies are pressured to integrate sustainability beyond short-term financial gains. The growing awareness of the environmental impact of business models (BM) has fueled the development of Sustainable Business Models (SBMs). Although the importance of decarbonization of EIMIs has increased, there is a lack of industry-specific research examining the combination of decarbonization and business models, as well as their interrelationships and correlations. This study addresses the discussion on the role of SBMs in decarbonization, improving the understanding of how these drivers can be integrated to enable new BMs for EIMIs. Based on a structured literature review and semi-structured interviews within the EIMIs, the study identifies BM components influenced by these drivers requiring sustainable business model innovation (SBMI). Results show that decarbonization drivers significantly impact all BM components. Experts emphasize the importance of collaborative approaches and cooperation throughout the value chain. This research highlights the need for systematic analysis to understand how companies can manage decarbonization drivers effectively and suggests exploring potential SBM design options.

Impact of Nanoparticle Additions on Life Cycle Assessment (LCA) of Ceramic Tiles Production.

The ceramic tile industry, with significant energy and material demands in its manufacturing processes, has employed technological innovations in energy efficiency, advanced equipment and tile thickness reduction to address these challenges. This study aimed to assess the impact of Ag2O, CuFe2O4, Fe3O4, and SiO2 nanoparticles (0%, 1%, and 5% by weight) on the mechanical strength, water absorption, and apparent thermal conductivity of ceramic tiles, as well as their capacity to reduce energy and raw material consumption. This reduction translates into a decrease in environmental impacts, which have been evaluated through life cycle assessment (LCA) methodology applied to the manufacturing processes. Nanoparticles (Ag2O, CuFe2O4, Fe3O4, and SiO2) were initially screened on TF clay (0%, 1%, 5% w/w), and the most effective were applied to CR1 and CR2 clays (0%, 1%, 5% w/w). Findings indicated a 32% increase in temperature gradient and a 16% improvement in flexural strength with the addition of Fe3O4 nanoparticle at 1% (w/w) in TF clay. Furthermore, there was a potential 48% reduction in energy consumption, and up to 16% decrease in tile weight or thickness without affecting the flexural strength property of the test tiles. LCA results demonstrated that the addition of Fe3O4 nanoparticle has potential reductions of up to 20% in environmental impacts. This study suggests that nanoparticle addition offers a viable alternative for reducing energy and material consumption in the ceramic tile industry. Future research should focus on assessing the economic impact of transitioning to a sustainable business model in the ceramic tile industry with nanoparticles addition.

COMPARATIVE ANALYSIS OF BUSINESS MODELS IN RETAIL: FAST CYCLE VS. LONG-TERM SUSTAINABILITY

This study conducts a comprehensive comparative analysis of fast-cycle and long-term sustainability business models in the retail industry. Through a mixed-methods approach, incorporating both quantitative and qualitative data, this research examines the key characteristics, underlying mechanisms, and impacts of these two contrasting models. The findings reveal stark differences in supply chain structures, design and production processes, marketing strategies, and consumer behavior. While fast-cycle models excel in speed, affordability, and trend responsiveness, they are associated with environmental degradation, ethical concerns, and a culture of disposability. Conversely, sustainable models prioritize ethical sourcing, environmental responsibility, and long-term value creation, but face challenges related to cost, scalability, and the need to balance timelessness with trend relevance. The implications for retailers, policymakers, and consumers are discussed, with a focus on the potential for hybrid models that combine elements of both approaches. This research contributes to the growing body of literature on sustainable business practices and provides valuable insights for retailers seeking to navigate the complex landscape of consumer preferences and sustainability demands.

Circular Economy and Business Transformation in European Furniture Industry

In today’s global landscape, industries must develop solutions to address environmental challenges, particularly emphasizing sustainable practices. The furniture industry, a significant contributor to resource depletion and environmental impact, requires immediate attention in this regard. This research focuses on exploring and establishing a framework for Circular Economy (CE) Business Models specifically designed for the furniture sector. By bridging existing research gaps, this study aims to support the adoption of sustainable Business Models aligning with EU Sustainable Development Goals (SDGs). The focus of this research is on the Sustainable Manufacturing and Eco Design Business Models. Given the limited literature available, this study seeks to enrich general understanding and provide practical insights to companies aiming to adopt more sustainable Business Models. To achieve this objective, a thorough literature review has been conducted. After initial literature review, we identified nine crucial value sources that served as the building blocks for a variable modeling framework designed for furniture industry Business Models. Transitioning from the literature review to an empirical analysis, secondary data used for quantitative desk analysis. As a result of this research, two archetypes have been identified specifically for furniture companies. These archetypes offer practical pathways for businesses aiming to transition towards sustainability. This paper contributes by providing a practical roadmap for furniture businesses to embrace CBMs. By offering validated archetypes and actionable insights, it aims to empower companies to align their strategies with sustainable practices.

Managing Innovation Through a Business Model in the Food Industry

Managing Innovation Through a Business Model in the Food Industry

The Current Status and Future Prospects of Carbon Capture, Carbon Transportation, And Carbon Utilization Technologies in Chinese Coal-Fired Power Plants Within the Context of Dual Carbon Goals

Carbon dioxide capture, utilization, and storage (CCUS) constitute vital measures for achieving net emissions reduction in China. Against the backdrop of the “dual carbon” initiative in China, this paper meticulously examines and analyzes the key technological principles, merits and demerits, and bottlenecks associated with CCUS carbon capture in the country’s thermal power plants at the current stage. It combines the prevailing industrial application status and the future development trajectory of pertinent technologies with considerations of industrial economic benefits and business models. Building upon this analysis, the paper summarizes the application status of CCUS technology in China’s thermal power plant industry and presents future prospects. On the technological front, the three capture methods grapple with the challenge of high costs. Therefore, there is a need to intensify efforts in developing low-cost and efficient carbon capture materials, as well as researching and practically applying low-cost oxygen generation technology. Economically, CCUS technology currently faces high costs, low returns, and certain commercial barriers, placing China in a demonstrative business model stage. To overcome these challenges and realize the economic benefits of CCUS technology, government incentives and technological innovation are imperative. These measures aim to reduce the overall cost of CCUS technology, stimulate the scale development, and foster commercialization, ultimately contributing to the achievement of China’s carbon emission reduction targets.

The role of microtransactions in impulse buying and purchase intention in the video game market

Despite having great potential, microtransactions are an understudied business model in the video game industry. The current study explores the buying process of microtransactions to highlight the most important factors affecting such behavior. Using pre-validated scales, a questionnaire was administered online to 301 participants who were asked to evaluate their impulse buying tendency (IBT) and purchase intention (PI) for microtransactions within gaming scenarios. The study found a positive relationship between drivers, such as performance, hedonic content and social factors, flow experience, and impulse buying. This tendency leads to a higher intention to purchase microtransactions. Businesses can utilize the paper’s findings to tailor their microtransaction content to these drivers, leading to higher profits.

Against the odds: exploring individuals' pushback mechanisms against commercialized football gambling.

The need for money, the pursuit of pleasure, and the liberalized access to gambling have been documented in several pieces of literature as the drivers of gambling. Such drivers are predicated on commercialized gambling, leading to the growth of the gambling industry and constituting a structural influence that normalizes the activity among young people. Through a qualitative inquiry, this study investigates the social agentic factors of individuals who are susceptible to gambling. Fifteen non-gamblers were recruited across three commercial cities in Africa, namely Nairobi, Lagos, and Johannesburg. We first established the gambling susceptibility of the participants: their need for money, their passion for football, ownership of a smartphone, access to the internet, and exposure to football gambling marketing. Consequently, we probed for their agency, which is indicative of why they do not gamble, despite being susceptible to engaging in the activity. Four major agentic factors were identified from the participants; knowledge of the industry's business model, conserving the integrity of football, identity of self, morality and/or religion model. As such, these factors may be utilized to develop an intervention program for gamblers within the geographical context.