Successful Business Model Research Articles

Exploring the decisive barriers to achieve circular economy: Strategies for the textile innovation in Taiwan

The movement toward a more circular textile industry still faces numerous challenges. Governments and business leaders must learn more about the interaction among obstacles to identifying decisive barriers and design more efficient circular economy (CE) strategies. The textile industry in Taiwan is important in the innovation and supply of circular textiles worldwide. The purpose of the present study is to identify the decisive CE barriers and offer guidelines on improving textile industry innovation in Taiwan. This study adopts an integrated method that combines the Fuzzy Delphi Method (FDM), total interpretive structural modeling (TISM), and Matrix of Cross-Impact Multiplications Applied to a Classification (MICMAC). Our results reveal six dominant barriers that require action: low customer demand for recycled textile products, lack of successful circular business models, the challenge of collaborative innovation among supply chain partners, lack of high-quality recycling materials, and high costs but low economic benefits in short-term. Finally, we suggest two mitigation strategies comprising an infrastructural strategy and platform strategy to help the Taiwan textile industry transition toward CE.

Secondary Business Model Innovation in Emerging Economies

ABSTRACTWe study two quick-service restaurant (QSR) chains based on regional ethnic foods that were launched in China and India. The products that these QSR ventures offered had hitherto been sold by fragmented street vendors who typically operated single outlets. Inspired by the successful business models of international QSR brands, these entrepreneurs developed business models to popularize their chosen regional ethnic foods in multiple new regions and grew their organizations to 1,400 and 300 outlets in China and India, respectively. We build on the recently coined concept of ‘secondary’ business model innovation (SBMI), which is based on inter-organizational learning, break down its constituents into creative and imitative, specify the mechanisms through which it is achieved, and propose that it is a specific case of the more general construct of creative imitation.

Business model innovation for the energy market: Joint value creation for electricity retailers and their customers

Electricity retailers are facing a decentralized, decarbonized, and digitalized road towards the sustainable energy transition. This paper presents an empirical study investigating how electricity suppliers can create and deliver values to private customers and capture the market for themselves through innovative business models during the low-carbon energy transition. Our exploratory study fills this research gap by collecting data from eleven different European companies and systematically analyzing them with the help of the “Business Model Canvas” (Osterwalder and Pigneur, 2010). The taxonomy and identification of the applied business model patterns are provided according to the “Business Model Navigator” (Gassmann et al., 2014). Consequently, the current research clarifies how business models of electricity retailers are structured today. We find that electricity retailers are trying to take a more consumer-centric perspective for creating economic, social, and environmental values. They provide different energy-related products and services besides green electricity to their private customers. The successful business models mainly focus on the increase in consumers’ energy efficiency and electricity self-sufficiency. By linking the business model innovation and retail electricity market, recommendations for business managers and policymakers are made.

Value Creation Analysis: Semiconductor Intellectual Property Business Models and Dynamic Capabilities

Semiconductor intellectual property (SIP) represents a crucial component of integrated circuit design activities. However, many small SIP firms fail to create value and adopt a viable business model. This article aims to investigate the value creation mechanism within the SIP business by drawing on the business model and dynamic capabilities views of the firm. First, the authors classify the forms and types of SIP from a technology and market perspective. Analyzing ten leading SIP firms, three SIP business models based on resources, competencies, and strategies are then identified. Dynamic capabilities are then linked to the selection and implementation of classified business models. Findings of the study suggest that existing SIP business models primarily favor large vendors. Keystone business model is proposed as a possible successful business model for small vendors. Consequently, this article provides insights and opportunities for leveraging the SIP ecosystem and business model innovation for small firms in the industry.

Shifting entrepreneurial landscape and development performance of water startups in emerging water markets.

Emerging technologies have driven the rise of many water-related startups and created new opportunities in water markets. The global water crisis could be mitigated by applying innovative technologies, sound water management decisions, and successful business models, and it is essential to better understand the status and future trends of emerging water markets. This study aims to discover shifts in the entrepreneurial landscape and evaluate water startups' development performance for the sustainable development of emerging water markets. We collected and analyzed data including the founding date, service area, service provided, details of funding raised, revenues, and consumer responses on 132 water startups founded between 2008 and 2018 in California, USA. Our results indicated that municipal area dominated the emerging water startup market compared to agricultural and industrial areas, and that many of the services provided shifted from conventional technologies to digital technologies. Though digital water startups' current revenues were relatively low, digital techniques applied in the water industry exhibited the good potential to promote public health and water saving. The development trends and performance of water startups enlighten the technological and commercial revolutions in the emerging water market, and provide guidelines for the decision-making in relevant stakeholders in the scientific, governmental, and industrial communities.

Innovative small start-ups in Italy: a successful business model

Innovative small start-ups in Italy: a successful business model

Importance of the Innovative Business Models for the Future Success of the Company

During the last decade, the market environment for the businesses has been influenced by digital developments and as a result, the focus on business model innovations has rapidly grown. Businesses started moving away from the classic method of creating competitive advantage like a new product development. Thus, this influenced business activities as well as companies’ business models into innovations of new products and services, a new ways of company relationships with customers and employees. Customers started expecting to receive services at a level comparable to digital solutions. Simultaneously, it put pressure on organizations to reflect on their current strategy and discover new business opportunities at the early stages. Digitalization is a one of the significant reasons for innovation on the business model of companies. Currently, business model as a tool is becoming a very popular topic due to its benefits received by companies and this topic studied by various researchers. This paper is based on theoretical perspective and the study was done by analysing previous researches, articles and papers in the present context. The study emphasizes that business model innovation can be a basis of sustainable competition for companies and innovators may increase their returns 4 times than product and service developers.

Digital business models and company growth opportunities in the energy market

We are currently witnessing significant changes in the global energy market. The energy industry is entering the stage of the 4th energy transition, which is characterized by an increasingly large-scale increase in the use of renewable energy sources and a decrease in the share of fossil fuels. The energy sector is also strongly influenced by the trend of digital transformation and the use of digital technologies. The aim of the work is to study the possibility and conditions of using digital business models by companies in the energy sector to improve competitiveness and market growth. To achieve the goal of the study, the following tasks were set: to analyze the main trends and the state of digitalization of the energy industry; analyze digital business models and assess the possibilities of their use by energy companies; to formulate approaches to transforming the activities of energy companies in the transition to a digital business model. The authors hypothesized that the use of digital business models will allow energy companies to remain competitive and gain access to new markets by introducing new technologies. To conduct the study, the methods of microeconomic and industry analysis, systemic and comparative analysis, and analysis of the organizational behavior of the company were used. The results of the analysis showed that the global energy market is characterized by growth in dynamics and volatility. In order to adapt to changing conditions and maintain competitiveness, energy companies need to take advantage of digitalization and shape a digital strategy. One of the basic elements of an organization’s digital strategy is a successful digital business model. The article discusses the types and features of digital business models, and also formulates approaches to transforming the activities of energy companies in the transition to a digital business model.

Community, creativity and piracy: a triadic approach towards understanding music streaming adoption among Indian audiences

Online music streaming is relatively fresh in India but there are a considerable number of users and downloads since its arrival in the country. This research is an attempt to address the literature gap in understanding music streaming purchase vs. piracy intention among Indian consumers. The results of the field study involving 500 respondents suggest that music streaming services (MSSs) that incorporate features that facilitate individual creativity and community building contributes towards the ease of use and usefulness of the system. MSSs that integrate features that advance creativity facilitation help users derive a sense of ease of use and enjoyment. Features that also contribute towards community facilitation along with enjoyment lead to intention to subscribe to MSSs. The results of the study also show a link between enjoyment and a reduction in unauthorised downloading intention. A convincing value-proposition for a pronounced user experience is imperative for a successful business model.

How Dental Service Organizations Strategically Navigated the Pandemic: Applauding a Successful Business Model

How Dental Service Organizations Strategically Navigated the Pandemic: Applauding a Successful Business Model

BUSINESS MODEL AS THE SUCCESS FACTOR IN THE ERA OF CORONAVIRUS PANDEMIC

The current pandemic situation creates many challenges for different entities form different sectors. In proposed paper it is assumed that the business model plays curtail role as the success factor especially in the era of global pandemic. Therefore, the aforementioned area (business model as the success factor of the company) constitutes the subject of the paper. In the paper, the following goals of descriptive and cognitive character are assumed: – identification of the characteristics of the business models that are most successful in the era of pandemic, –indication of marketing practices applied by innovative company G2A in the sphere of developing successful business models. The following research methods are applied for the purpose of implementation of assumed goals: critical analysis of the literature of the subject and the case study method that shows the best business practices associated with development of business models. In the study successful company G2A is objects of research. Analyses included in the paper concern the period between march and September 2020 that was the period of global pandemic explosion (time range). Presented results of conducted analyses concern international environment (spatial range).

Impacts of Digital Marketing on the Pharmacies Community in Saudi Arabia and Determining the Future Model of the Industry: A Cross-Sectional Questionnaire-based Study

Abstract: Background: Pharmaceutical and telemedicine industries are now finding ways in the Kingdom of Saudi Arabia by adopting innovative and successful business models along with groundbreaking strategies using digital online platforms particularly after the COVID-19 pandemic. Methods: The present study analyzes the impacts and frequencies of digital marketing technology usage among pharmacies and customers. A crosssection study was carried out using a non-repeated random sampling technique and a standardized questionnaire survey was conducted employing online telephone interviews. Binomial, Chi-square, multinomial logistic regression and the multivariate statistics were applied on data sets to determine the comparison and relationship between variables and their categories. Results: These study findings revealed that customers used the web services tool of pharmaceutical companies significantly (p<0.05) more than other digital marketing or social media platforms. Approximately, 36 pharmacies agreed out of 51 to the fact that webinars are effective, efficient and resourceful for online engagement with all shareholders regarding the product. Conclusion: Most respondents recognized that social media chats are to be more operative and ferocious in terms of marketing communications. Key words: Digital Marketing, Pharmacy, Pandemic, Digitalization, Social Media.

Инновационная бизнес-модель выставочной компании: апробация методики моделирования

Subject. An innovative transformation of the business model of a company that organizes trade shows is investigated. Purpose. To develop a project concept for an innovative transformation of the business model that strengthens the competitiveness of the exhibition company. Methodology. The methodology for developing the transformation project and methods for supporting the design of analyses are based on the recommendations of researches from St. Gallen University (Switzerland), as well as on the author’s managerial experience in exhibition business. The methodical recommendations and descriptions of 55 successful business model templates are presented in an orderly manner by O. Gassmann, K. Frankenberger, and M. Csik in the book “The Business Model Navigator”. Findings. Three-stage cycle of business model development provided by O. Gassmann’s methodology is made taking into account the economic and technological features of the exhibition business. It led to the concept of an innovative business model with two root innovations: a two-format exhibition consisting of a permanent virtual part and periodic face-to-face sessions, and a value proposition supplemented by business contacts between exhibitors and target visitors. This business model provides a stronger competitive position for organizers of both traditional and virtual exhibitions than the mono-format one. It has the ability to be adapted to external conditions by adjusting economic and technological parameters. It also has the potential to further expand of consumer segment through regional exhibition business and further transform of value proposition by replacing business contacts with transactions between exhibitors and target visitors. Conclusions. Obtained results are of scientific, methodological and practical significance. According to them one can judge what is provided by O. Gassmann’s methodology and how to use the tools of the methodology when designing an innovative transformation of the business model of an exhibition company. The developed concept of innovative transformation, which contributes to the intensification of business contacts between exhibitors and target visitors and strengthens the company’s competitive position, adds to the theory of two-sided exhibition markets.

Impact of introducing a customer services component during secondary school education to improve small and medium-sized enterprises: a case study in Bangladesh

PurposeSmall and medium-sized enterprises (SME) make a significant contribution to alleviating poverty and generating employment, and achieve sustainable economic growth. Customer services represent core elements of a successful business enterprise. This study aims to examine the effect of education on customer satisfaction in the SME sector and what the future holds for developing countries.Design/methodology/approachUsing Bangladesh as a case study, this analysis uses a multiple-linear regression approach to examine the effect of a customer care orientation on customer satisfaction and on an SME’s ability to survive. Using a “probit model,” this study investigates the effects on customers’ probability of receiving subsequent services.FindingsDeveloping good customer services in secondary education will increase customers’ satisfaction and enable SMEs to survive and flourish in the long term. Having a policy that promotes this outcome increases the likelihood of receiving consistently good services for the foreseeable future.Originality/valueUnlike previous studies, this study examines the role of customer relationships in secondary education and how they improve SME customers’ satisfaction and business survival. This study offers new insights to retain existing customers for a successful SME business model.

An analysis of IT outsourcing models in the digital education process

One of the issues of development of the digital educational process is the use of IT outsourcing technologies. IT outsourcing is a group of services provided by a third-party company specializing in these processes. This type of outsourcing has recently appeared, but it has become one of the most popular outsourcing services. Many companies prefer are implementing outsourcing schemes. They usually start with IT outsourcing, which is one of the most relevant and successful business models that allows you to get competitive advantages. The paper attempts to summarize and analyze the IT outsourcing market from the perspective of analyzing models used in the digital process for enterprises in various sectors of the economy. The object of this study is MAYKOR, the largest IT outsourcer in the Russian market. The goal of the work is to analyze IT outsourcing models in the context of various professional fields.

How to Implement AI in the Clinical Enterprise: Opportunities and Lessons Learned.

Advances in research give credence to the promise that has built up in recent times around artificial intelligence (AI) applications in medical imaging. To completely realize this promise in clinical practice, significant questions still need to be answered. Several have been discussed in detail in previous publications, including scientific questions around developing the best models to solve appropriate clinical questions [1], complex regulatory issues that span multiple agencies [2,3], and the creation of successful business models [4,5].

사회공헌활동을 위한 성공적 디자인비즈니스모델 연구

최근 기업들의 사회공헌활동이 사회문제를 해결하고 동시에 이익을 창출함으로써 기업의 자산 가치를 높이고 장기적으로 경쟁력을 강화시키는 현명한 방식의 비즈니스 모델로 발전하고 있다. 본 연구는 혁신적 디자인 전략을 도입하는 제조분야 선도 기업을 중심으로 사회공헌형 비즈니스모델의 분석을 통해 기업이 사회공헌활동을 하고자 할 때 방향성을 제시해 주고자 하며, 특히 혁신적인 비즈니스 모델의 경우 디자인 사고의 비중이 커지고 있는 만큼 디자인의 역할과 그 의미를 함께 짚어 보는 것을 목적으로 한다. 연구대상은 합리적인 가격을 표방하는 기업 IKEA, Warby Parker, H&M으로 선정하였고, 연구방법은 오스터왈더(Osterwalder)의 캔버스(Canvas)모델을 분석의 도구로 하였다. 이는 효율과 가치를 균형 있게 다뤄 비영리 프로그램이나 공공부문에서도 활용될 수 있기 때문이다. 2장에서는 비즈니스모델 캔버스의 내용을 다루었고, 3장에서는 연구대상인 IKEA의 Better Shelter프로젝트, Warby Parker의 Buy a pair, Give a pair모델, SPA브랜드인 H&M의 지속가능프로그램을 분석하였으며, 4장에서는 분석의 결과를 다루었다. 구체적인 내용은 다음과 같다. 1)기업의 핵심경쟁력과 관련 있는 사회공헌활동 실행 2)국제구호단체, 비정부기구와의 협력 3)자력을 돕는 방식의 시스템 구축 4)해당 산업생태계를 살리는 동반성장을 선택 5)순환경제를 통해 지속가능성 추구 6)디자인 사고와 방법으로 혁신모델 완성하기 이다. 이와 같은 비즈니스 모델을 수립하는데 디자인의 역할과 의미는 다음과 같다. 과거 디자인이 제품과 서비스로 기업의 수익창출에 기여하였다면, 이제 사회공헌활동이 가능한 혁신적 비즈니스모델을 만드는데 기여하여, 민간분야를 넘어 공공분야의 사회문제를 해결하고 지속가능한 생태계를 만드는 데 중추적 역할을 하고 있다.

Payment-Guard: Detecting fraudulent in-app purchases in iOS system

As a successful business model, “in-app purchase” has been adopted by massive applications (Apps) gradually. Users can purchase various virtual goods in different kinds of Apps, such as the license to download movies or songs. In-app purchase helps App operators gain huge income, and meanwhile provides users with flexibility in using Apps. Recently, iOS Apps have suffered the attack of fraudulent purchase. Attackers leverage the vulnerabilities in iOS payment system to purchase virtual goods at zero or low cost. More seriously, unscrupulous attackers solicit customers publicly and provide purchasing services, which has caused huge financial loss to business entities. It becomes of great importance to detect the fraudulent in-app purchases in iOS Apps, and then take measures such as confiscating goods to minimize profit loss. In this paper, we propose a system called Payment-Guard to achieve this objective, which designs various features to characterize a purchase from four perspectives including App account behavior, device behavior, IP behavior and union behavior of (App account, device, IP), then conducts detection based on the features. We perform comprehensive experiments based on data collected from “Honor of Kings” App, which is one of the most famous MOBA games in China and allows players to recharge App accounts for virtual currency. Experimental results demonstrated that Payment-Guard can detect 92.2% malicious in-app purchases and with only 2% false positive rate.

Risk management and corporate governance failures in Islamic banks: a case study

Purpose The purpose of this paper is to show how the choice and ongoing evaluation of a firm’s business model, as a matter of strategic guidance, are key aspects of corporate governance (CG), with particular reference to risk management (RM) in Islamic banks. Design/methodology/approach This research uses a case study approach, with a single case, which was chosen as it fits very well the purpose of this research. The data collection was based largely on documentary evidence. Company data were collected from company annual reports, press releases and legitimate web sites. The ORBIS Bank Focus database was also used to produce a comparative financial analysis. Findings The study findings illustrate how an apparently successful business model may fail due to an inherent instability that could have been identified through the application of careful risk analysis (including stress testing) in the choice and ongoing evaluation of the business model, which robust CG and strategic guidance require. In particular, Arcapita’s problems illustrate the dangers to Islamic financial institutions (IFI) from business models that involve undue exposure to liquidity risk. Practical implications The issues raised in the paper are important in that Islamic banking and finance is an integral part of the global banking and finance industry. Investors and regulators are now requesting corporate management to provide improved service to shareholders and other stakeholders alike. IFI rely on the confidence of investors and market participants, just like conventional institutions and when this confidence erodes, it may prove difficult to regain. Social implications The global credit crisis of 2008 caused significant difficulties to firms, especially financial institutions, even with substantial government intervention in the economy, which raised some issues of CG and ethics. Originality/value This paper extends the knowledge of the potential effects of weaknesses in CG and RM, with specific reference to strategic guidance in the choice and ongoing evaluation of a firm’s business model, especially in relation to the Islamic banking sector. It also provides a telling illustration of the need for the enhancements of the Basel Committee’s prudential requirements set out in the various Basel III documents.

Towards successful business model management with analytic network process-based feasibility evaluation and portfolio management

Despite the great importance of designing innovative business models, a validated methodology that helps related process is still not available. To fill this gap, this research introduces business model management concepts that consider business models as individual entities that can be systematically developed and managed by utilizing science based methodology. This study mainly focuses on proposing business model evaluation and deployment framework by applying analytic network process (ANP), a multi multiple criteria decision-making method and portfolio matrix strategy. The proposed evaluation method is designed to consider both internal and external perspectives where internal perspective is measured through ANP method by employees, while external perspective is measured through customer survey by in-depth interview. The obtained values from ANP and customer survey are then used to construct the business model portfolio matrix for continuous business model management. To this end, this study identifies 12 criteria within three different categories employed in ANP analysis and business model portfolio matrix, respectively. The proposed framework for managing business models provides new insights to both practitioners and academics. It regards business models as individual entities and introduces a way to practically apply the business model concept. It also provides managers with guidelines to manage business model alternatives in terms of evaluation, selection, and continuous management. Finally, because this study is, to the best of our knowledge, one of the first attempts to employ the portfolio management concept in business model research, it can function as the foundation for future applied business model research.