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Showing papers on "Business model published in 2021"


Journal ArticleDOI
TL;DR: In this article, the authors examined the impact of digital transformation on customer value creation in the context of small and medium-sized firms (SMEs) operating in the Made in Italy sectors, with the aim of understanding how dynamic capabilities, as enabling mechanisms, may foster digital transformation.

276 citations


Journal ArticleDOI
TL;DR: In this article, the authors explored the why and how of these successful recovery attempts through business model innovation by conducting a multiple case study of six hospitality firms in Austria, relying on interview data from managers together with one of their main stammgasts for each case, which they triangulate with secondary data for the analysis.

216 citations


Journal ArticleDOI
TL;DR: In this article, the authors integrate the concepts of business model design, absorptive capacity, and innovation strategy into a novel research model, which analyzes the redesign of established business models in response to the emergence of Industry 4.0.

193 citations


Journal ArticleDOI
TL;DR: In this paper, an overview of the development of academic literature published between 2010 and 2019 with regards to the relationship between digitalization and business models in 198 peer-reviewed articles is presented.

168 citations


Journal ArticleDOI
TL;DR: In this paper, the authors present a reasoned account of the critiques addressed to the circular economy and circular business models and propose critical issues that need to be addressed if the circulareconomies and its business models are to open routes for more sustainable economic development.
Abstract: This paper presents a reasoned account of the critiques addressed to the circular economy and circular business models. These critiques claim that the circular economy has diffused limits, unclear theoretical grounds, and that its implementation faces structural obstacles. Circular economy is based on an ideological agenda dominated by technical and economic accounts, which brings uncertain contributions to sustainability and depoliticizes sustainable growth. Bringing together these critiques demonstrates that the circular economy is far from being as promising as its advocates claim it to be. Circularity emerges instead as a theoretically, practically, and ideologically questionable notion. The paper concludes by proposing critical issues that need to be addressed if the circular economy and its business models are to open routes for more sustainable economic development.

164 citations


Journal ArticleDOI
TL;DR: In this article, the authors examine the key concepts related to business model digitalization and develop a conceptual matrix for portfolio considerations of firm business model transformation, and offer some recommendations for future research on the new working conditions and digital identities of firms.
Abstract: Today’s key challenge for firm growth relies in the integration of digital technologies and their use in new business models. Thus, firms increasingly engage in a digital transformation and in digitalizing their business model. Firms can apply digital technologies for improved or novel internal and external processes and integrate them in new business models. The digital transformation itself demands diverse knowledge from diverse origins in the firm. We examine the key concepts related to business model digitalization. We develop a conceptual matrix for portfolio considerations of firm business model digitalization. We introduce the seven contributions in this special issue on knowledge and innovation related to business and offer some recommendations for future research on the new working conditions and digital identities of firms.

159 citations


Journal ArticleDOI
TL;DR: In this paper, the authors conducted a case study with interviews and document data from four Northern Europe-based forerunner firms with circular economy business models enabled by digital technologies, providing two key contributions to the extant literature.
Abstract: Digital technologies have been increasingly argued to enable circular economy business models. However, the extant research is based on conceptual and review studies, leading to a lack of understanding of how digital technologies enable individual firms in real-life settings to improve their resource flows and value creation and capture and thereby enable business model innovation to emerge. In this study, we conducted a multiple case study with interviews and document data from four Northern Europe-based forerunner firms with circular economy business models enabled by digital technologies, providing two key contributions to the extant literature. First, we generate an empirical evidence -based synthesis of improvements of resource flows and value creation and capture in firms’ businesses across industries, highlighting the critical role of knowledge generation. Second, we develop a model of four key types of business model innovation for circular economy catalyzed by digital technologies, varying on incremental and radical improvement to both the resource flows and value creation and capture, providing theoretical insights to both business model innovation and digital technologies in circular economy. For managers, we suggest suitable digital technologies for the key types, highlighting the importance of radical business model innovation catalyzed by data integration and analysis technologies.

156 citations


Journal ArticleDOI
TL;DR: It is necessary to invest in adequate measures for adaptation to digital transformation, and manufacturers will end up having greater profits, productivity, and competitiveness, and from the point of view of consumers, there will be access to more and better services and greater satisfaction with the required services.

150 citations


Journal ArticleDOI
TL;DR: Through the adoption of a digital information processing perspective, this work provides a micro-level approach to research on digital entrepreneurship (DE) that complements existing literature on DE focused at the systemic level (digital entrepreneurship ecosystems and in the digital platforms economy).
Abstract: Understanding the circumstances and reasons which facilitate digital entrepreneurship (DE) is of interest to academic research, and guides business practice, as well as public policies aiming at supporting this phenomenon given its positive impacts in terms of job creation and economic growth. We define some relevant concepts and briefly map current research using a perspective that focuses on the way digital entrepreneurs create digital value by acquiring, processing, and distributing digital information. Through the adoption of a digital information processing perspective, we provide a micro-level approach to research on digital entrepreneurship (DE) that complements existing literature on DE focused at the systemic level (digital entrepreneurship ecosystems and in the digital platforms economy). We show how these two approaches can be jointly used to identify major research streams on DE: digital business models, the digital entrepreneurship process and the creation of digital start-ups, DE in digital platforms, and entrepreneurial digital ecosystems. As is the case with existing DE frameworks, our approach concurs in putting emphasis on the new collaborative and social dynamics enabled by digital tools to support knowledge sharing and facilitate opportunity recognition.

146 citations


Journal ArticleDOI
TL;DR: In this paper, a broad survey of the scientific literature on knowledge management systems (KMS) is presented to understand how digital innovation promotes new business models through the optimization of new knowledge.

136 citations


Journal ArticleDOI
TL;DR: In this paper, the authors investigated the values that drive food-delivery application (FDA) use and found that epistemic value (visibility) is the chief driver of purchase intentions toward FDAs, followed by conditional (affordances), price (part of functional value) and social value (prestige).
Abstract: Purpose The theory of consumption values (TCV) has successfully explained much consumer choice behavior, but few studies have investigated the values that drive food-delivery application (FDA) use. This study aims to bridge this gap by extending the TCV to the FDA context to examine food consumption-related values and interpreting and rechristening generic consumption values to adapt the TCV to the FDA context. Design/methodology/approach An explorative mixed-method research approach was taken to conduct focus group discussions with 20 target users to develop the questionnaire and then administer it for a cross-sectional survey (pen and pencil) to FDA users aged 22–65 years; 423 complete responses so received were analyzed using structural equation modeling. Findings The findings show that epistemic value (“visibility”) is the chief driver of purchase intentions toward FDAs, followed by conditional (“affordances”), price (part of functional value) and social value (“prestige”). Food-safety concerns and health consciousness (proposed as part of functional value) did not share any statistically significant association with purchase intentions toward FDAs. Research limitations/implications The findings of this study are insightful for FDA service providers competing for higher shares in the market by helping them understand ways to influence consumer choices and purchase intentions. Originality/value It is the first study that combines FDAs 2014 an online service that it is attracting a lot of investment 2014and TCV which has continued to be one of the most relevant theories of consumer behavior. It extends the TCV by adapting it to the FDA context with food-consumption-related values. Thus, it adds to the relatively scant literature on FDAs on the whole which is essential, as FDAs represent the business model of new economy, i.e. online-to-offline (O2O). Finally, this study formulates a conceptual framework that may serve as the basis of future research.

Journal ArticleDOI
TL;DR: In this paper, a systematic literature review of the implementation of circular practices across the European Union (EU) member states based on a framework of circular strategies, nutrient cycles, ReSOLVE framework and circular business models is presented.

Journal ArticleDOI
TL;DR: The empirical examination of the extent to which firm-level strategic agility predicts the adoption of three types of business model innovations indicates that strategic agility is positively related to BMI and that this relationship is indeed strengthened by the degree of environmental turbulence.
Abstract: Despite the robust literature on the nature of business models and their implications for firm performance, research on the organizational antecedents of business model innovations (BMIs) is still evolving. In this paper, we empirically examine the extent to which firm-level strategic agility predicts the adoption of three (value creation, value capture, and value proposition) types of BMIs. Furthermore, we propose that the relationship between firm-level strategic agility and BMI adoption is contingent on the degree of environmental turbulence. Finally, we explore the mediating role that BMI plays in the relationship between firm-level strategic agility and firm performance. Our analysis of data from 432 German firms in the electronics industry indicates that strategic agility is positively related to BMI and that this relationship is indeed strengthened by the degree of environmental turbulence. Additionally, our findings show that, while value proposition and value creation BMIs have positive relationships with firm performance, value capture innovation is negatively related to firm performance; these findings are contrary to our prediction. Finally, the results of our mediation tests indicate that BMI serves as an important intermediary mechanism through which firms’ strategic agility contributes to superior firm performance.

Journal ArticleDOI
TL;DR: In this article, the authors present a taxonomy of smart things based on their capabilities and their connectivity, and derive their implications for business models and conclude the paper with propositions that form a research agenda for business researchers.

Journal ArticleDOI
TL;DR: This review paper systematically summarises the recent research and applications of smart logistics based on the internet of things, including smart freight transportation, warehousing, and delivery and demonstrates the role and impact of IoT on smart logistics, and reveals challenges of IoT-based smart logistics.
Abstract: Smart logistics is an effective way to meet the challenges of fast-changing customer expectations, take opportunities brought by new technologies, and facilitate new business models. This review pa...

Journal ArticleDOI
TL;DR: In this paper, the authors examine the nexus between absorptive capacity and strategic flexibility, and their effects on business model innovation (BMI) and argue that to increase strategic flexibility and innovate their business model, firms need to develop their potential absorptive capacities (acquisition and assimilation of knowledge) as well as their realized absorptive capabilities (transformation and exploitation of knowledge).

Journal ArticleDOI
TL;DR: In this article, the authors identify the technologies, evaluates disruptive software platforms, and strategies needed for creating and managing small business innovation and highlight the complexity of that process and the context within which this process takes place.
Abstract: The adoption of cutting-edge technologies to steer business activities during community lockdown to contain the spread of the COVID-19 pandemic, even if involuntarily, provides evidence that technologies not only offer competitive advantages but also provides a means for survival, by improvising existing business models. In June 2019, we issued a call for papers to address the awareness, adoption, and implementation challenges of technologies that can drive businesses of all sizes in the fourth industrial revolution. We intended to identify as critical elements the “must-have” and a “nice to have” technologies for small businesses and innovation. Then the ongoing COVID-19 global health pandemic struck in December 2019, forcing the need for digitization of business activities and remote operations, which was considered a “nice to have” to immediately become a “critical to have” to survive in the ever increasingly uncertain business environment. This paper identifies the technologies, evaluates disruptive software platforms, and strategies needed for creating and managing small business innovation and highlighting the complexity of that process and the context within which this process takes place. We integrate this discussion alongside a summary of the articles included in the Special Issue. The current realities show that technologies that enable social business creation, customer relationship management systems, new communications channels, virtual reality technologies for remote operations, and the Internet of Things (IoT) are crucial to lowering the costs of doing business. Big data and predictive and visual analytics are critical enablers to aiding complex business decisions in the current challenging business climate.

Journal ArticleDOI
TL;DR: In this article, the authors study the latest perspectives and future megatrends that are most likely to drive 6G and highlight the key requirements of 6G based on contemporary research such as UN sustainability goals, business model, edge intelligence, digital divide, and the trends in machine learning for 6G.
Abstract: Next-generation of the cellular network will attempt to overcome the limitations of the current Fifth Generation (5G) networks and equip itself to address the challenges which become obvious in the future. Currently, academia and industry have focused their attention on the Sixth Generation (6G) network, which is anticipated to be the next big game-changer in the telecom industry. The outbreak of COVID’19 has made the whole world to opt for virtual meetings, live video interactions ranging from healthcare, business to education. However, we miss an immersive experience due to the lack of supporting technology. Experts have anticipated that starting from the post-pandemic age, the performance requirements of technology for virtual and real-time communication, the rise of several verticals such as industrial automation, robotics, and autonomous driving will increase tremendously, and will skyrocket during the next decade. In this manuscript, we study the latest perspectives and future megatrends that are most likely to drive 6G. Initially, we describe the instances that lead us to the vision of 6G. Later, we narrate some of the use cases and the KPIs essential to meet their performance requirement. Further, we highlight the key requirements of 6G based on contemporary research such as UN sustainability goals, business model, edge intelligence, digital divide, and the trends in machine learning for 6G.

Journal ArticleDOI
TL;DR: In this paper, the authors proposed a framework for digital supply chain capabilities (DSCCs) based on the main Industry 4.0 elements, supply chain and the emerging literature concerning DSC disruptions.
Abstract: The Industry 4.0 phenomenon is bringing unprecedented disruptions for all traditional business models and hastening the need for a redesign and digitisation of activities. In this context, the literature concerning the digital supply chain (DSC) and its capabilities are in the early stages. To bridge this gap, the purpose of this paper is to propose a framework for digital supply chain capabilities (DSCCs).,This paper uses a narrative literature approach, based on the main Industry 4.0 elements, supply chain and the emerging literature concerning DSC disruptions, to build an integrative framework to shed light on DSCCs.,The study identifies seven basic capabilities that shape the DSCC framework and six main enabler technologies, derived from 13 propositions.,The proposed framework can bring valuable insights for future research development, although it has not been tested yet.,Managers, practitioners and all involved in the digitalisation phenomenon can utilise the framework as a starting point for other business digitalisation projects.,This study contributes to advancing the DSC literature, providing a well-articulated discussion and a framework regarding the capabilities, as well as 13 propositions that can generate valuable insights for other studies.

Journal ArticleDOI
TL;DR: In this article, the authors assess the potential impact of Fintech on the banking industry and find that development of financial technology leads to increased profitability, financial innovation, and improved control of risk.

Journal ArticleDOI
TL;DR: In this paper, the use of blockchain in management has gained substantial recognition for its ability to induce transformation and innovation in existing business models and frameworks and consequently, the application of this technology to the management domain and its processes has attracted increasing interest from academia and industry.

Journal ArticleDOI
TL;DR: In this paper, a content analysis of 239 articles indexed in Web of Science and Scopus databases, using homogeneity analysis by means of alternating least squares (HOMALS), reveals the theoretical underpinnings, research trends, and methodologies of this research field.

Journal ArticleDOI
TL;DR: This research employed a multi-method approach comprised of 106 interviews with thought leaders and two stakeholder workshops to construct the history, ecosystem, state of the industry, and potential evolution of Urban air mobility.
Abstract: Since the early 20th century, inventors have conceptualized “plane cars” and other urban aerial transportation. Emerging innovations in electrification, automation, and other technologies are enabling new opportunities for on-demand air mobility, business models, and aircraft design. Urban air mobility (UAM) envisions a safe, sustainable, affordable, and accessible air transportation system for passenger mobility, goods delivery, and emergency services within or traversing metropolitan areas. This research employed a multi-method approach comprised of 106 interviews with thought leaders and two stakeholder workshops to construct the history, ecosystem, state of the industry, and potential evolution of UAM. The history, current developments, and anticipated milestones of UAM can be classified into six phases: 1) “flying car” concepts from the early 1910s to 1950s, 2) early UAM operations using scheduled helicopter services from the 1950s to 1980s, 3) re-emergence of on-demand services starting in the 2010s, 4) corridor services using vertical take-off and landing (VTOL) envisioned for the 2020s, 5) hub and spoke services, and 6) point-to-point services. In the future, UAM could face several barriers to growth and mainstreaming, such as the existing regulatory environment; community acceptance; and concerns about safety, noise, social equity, and environmental impacts. UAM also could be limited by infrastructure and airspace management needs, as well as business model constraints. The paper concludes with recommendations for future research on sustainability, social and economic impacts, airspace integration, and other topics.

Journal ArticleDOI
TL;DR: In this article, the authors proposed a model for collaboration as an enabler for the implementation of the circular economy (CE) in a developing country, focusing on new dynamics which are unique to developing countries and have mostly been overlooked by contemporary literature.
Abstract: Purpose The purpose of this paper is twofold: first, to advance the knowledge of Circular Business Models (BMs) over linear models by focusing on new dynamics which are unique to developing countries and have mostly been overlooked by contemporary literature; and second, to bring to the fore aspects of human-sphere which are currently under-researched in the circular economy (CE) domain. Therefore, the research explores how collaboration can facilitate the transition of a developing country’s economy through the creation of value from circular BMs and human-sphere. Design/methodology/approach To fulfill the research objectives, the authors apply natural resource-based view (NRBV) theory to an in-depth case study. The authors draw the data from semi-structured interviews and observations in North African manufacturing companies. Findings It was found that multi-stakeholder collaboration is pertinent in implementing CE, especially in developing countries. Collaboration between companies, focusing on CE BMs, with other companies/SMEs could lead to technology transfer and organizational learning necessary for resource efficiency (RE) and clean technology (CT) – the basis for CE. The authors propose a model for collaboration as an enabler for CE. Research limitations/implications The analysis found multi-stakeholder collaboration to be an important antecedent to CE implementation in a developing country context. Furthermore, the authors found multinational companies who implement CE BMs generate a beneficial symbiotic relationship with local businesses. These benefits mainly revolve around technology transfer and organizational learning which is necessary for RE and CT – the basis for CE. Therefore, to advance knowledge and practice in this area, the authors propose a model for collaboration as an enabler for CE. Practical implications The authors argue for the importance of collaboration in advancing CE practices which can yield tangible benefits for developing economies. Originality/value This paper helps address the lack of theory driven research in CE. The paper is a pioneer in this research field as it proposes a theoretical framework for collaboration in CE drawing on from NRBV.

Journal ArticleDOI
TL;DR: In this paper, the authors investigate the link between Industry 4.0 and the circular economy by understanding how Industry4.0 can foster the impact of the CE on companies, and propose a broader perspective that includes thematic and content analysis.
Abstract: The union between Industry 4.0 and the circular economy (CE) appears relatively recent. In this sense, new trading zones for sharing a common scenario among academics and practitioners are needed. The paper aims to investigate the link between Industry 4.0 and the CE by understanding how Industry 4.0 can foster the impact of the CE on companies. The study proposes a broader perspective that includes thematic and content analysis gathering data on professional documents based on business cases, newspaper articles, press releases and specialised blogs, as well as scientific papers. The joint academic‐practitioners view highlights how Industry 4.0 has the potential to impact on the CE through countless actions: increasing waste disposal; promoting remanufacturing; enhancing the efficiency of critical resources such as water, energy, gas and CO2; and improving business models and the mission of companies. However, barriers still exist in its adoption, stressing the need for holistic and integrated design and a proactive environment of collaboration among stakeholders. Results lead to practical as well as research implications.

Journal ArticleDOI
TL;DR: In this paper, the authors investigated how SMEs operating in service industries have been coping with the disruptions caused by the COVID-19 pandemic, and the results show the distribution of drivers and technologies across service sectors.
Abstract: Businesses have been exposed to various challenges during the global pandemic, and their response to this disruption has impacted their resilience as well as their chances to overcome this crisis. Small and medium-sized enterprises (SMEs) are changing their business models in order to adapt to this changing environment. Service-based industries have been hit particularly hard. This research investigates how SMEs operating in service industries have been coping with the disruptions caused by the COVID-19 pandemic. This research aims to gain insights into which transformation drivers they have focused on and which technologies they have selected as a means to respond to the disruption. These insights regarding SMEs are then explored according to their influence on the redefinition of sustainable business models in SMEs. The review data was analyzed via a customized research framework that contains three dimensions and 30 subconcepts. The results show the distribution of drivers and technologies across service sectors. They are organized into a Business Model Canvas and could be considered useful for academia and practitioners. The highly unpredictable environment allows for only a few feasible strategic approaches regarding an SME’s decision on to follow incumbents, to become a challenger, or to reinvent themselves based on their own transformation drivers and readiness to apply digital technologies.

Journal ArticleDOI
TL;DR: In this paper, the authors focus on the impact of Industry 4.0 on their supply chains, operations, and business models, and propose an approach to deal with the complex characteristics of the industry.
Abstract: Today many manufacturing firms expect a significant impact of ‘Industry 4.0’ on their supply chains, operations, and business models. However, its complex characteristics are yet to be fully compre...

Journal ArticleDOI
TL;DR: In this paper, critical success and risk factors of eco-innovative business models that contribute to a circular economy via agricultural unavoidable waste or by-products valorisation are analyzed.
Abstract: For a transition from a linear, ‘take-make-dispose’ economy to a sustainable usage of all constituents of renewable resources in cascading and circular pathways, new business models valorising streams that are currently considered as waste are needed. The aim of this article is to understand critical success and risk factors of eco-innovative business models that contribute to a circular economy via agricultural unavoidable waste or by-products valorisation. 39 cases were studied focusing on agricultural side stream conversion into valuable products. Semi-structured interviews were performed and secondary data collected. Cases were analysed according to types of initiatives, main objectives, resources and valorisation pathways, as well as external and internal factors that have influenced the businesses over time. Following success and risk factor categories are identified: (1) technical and logistic, (2) economic, financial and marketing, (3) organisational and spatial, (4) institutional and legal, (5) environmental, social and cultural. Herein, specific factors for the agricultural sector are innovative conversion technologies, flexible in and out logistics, joint investments in R&D, price competitiveness for bio-based products, partnerships with research organisations, space availability, subsidies, agricultural waste management regulations, local stakeholder involvement and acceptance of bio-based production processes. Insights from this study can help farmers and agribusiness managers by defining and adapting their strategies within their local contexts. They also show that for shifting from linear agro-food chains to a circular system, individual businesses need to evolve towards more dynamic and integrated business models, in which the macro-environment sets the boundary conditions for successful operations.

Journal ArticleDOI
TL;DR: In this paper, the authors promote an institutional perspective that shows that all business practices are part of larger societal and ecological systems, so that a real transition toward sustainability demands joint institutional alignment processes which balance the adaptive tensions between social mission, environmental stewardship and economic growth.

Journal ArticleDOI
TL;DR: In this paper, the authors describe the new business model and market form of the web as platform capitalism and surveillance-based digital capitalism, which have begun to infuse the higher education l...
Abstract: ‘Platform capitalism’ and ‘surveillance capitalism’ describe the new business model and market form of the web. These forms of digital capitalism have begun to infuse the higher education l...