Showing papers on "Business model published in 2022"

Facebook and the creation of the metaverse: radical business model innovation or incremental transformation?

Abstract: Purpose In a move characterized by ambiguity, Facebook changed its name to Meta in October 2021, announcing a new era of social interaction, enabled by the metaverse technology that appears poised to become the future center of gravity for online social interactions. At first glance, the communicated change signals a radically new business model (BM) based on an unprecedented configuration of the three following components: value creation, value proposition and value capture. The purpose of this paper is to analyze Facebook’s announced changes in its BM to clarify whether the change is as radical as communicated or rather represents an incremental transformation of the current BM.Design/methodology/approach This investigation adopted an in-depth case study research method. The process included using a structured approach to collect 153 data points, including academic studies and publicly available information, followed by qualitative content analysis.Findings The results of our analysis of Facebook’s entrepreneurial journey indicate that the communicated strategic refocusing does not correspond to a radical BM innovation pattern. Even though Facebook’s BM might evolve into the innovation phase, as the current changes appear very futuristic, the authors estimate that the core elements of the BM will change incrementally. The investigation indicates that the underlying logic of the straightforward communicative efforts primarily serves two purposes: to improve the external perception of the company and to disseminate an internal change signal within the organization.Originality/value This paper is the first study that takes an entrepreneurship and BM perspective in analyzing Facebook’s approach in rebranding to Meta and refocusing its strategy on building the metaverse. The academic and practical relevance, as well as the potential future impact on business and society, makes the investigation of this case an intriguing prospect. Additionally, the study illuminates the difference between the communicated vision and the real impact on the business, suggesting critical questions about future large-scale rebranding efforts and their effects.

Designing Value Chains for Industry 4.0 and a Circular Economy: A Review of the Literature

Abstract: The growth of emerging digital technologies has led to premature and inconsistent conclusions about the relationship between circular economy and value chain activities. A structured, systematic review approach was used to examine the titles and abstracts of 912 papers from the circular economy and digital transformation, strategic management, and operations management literature. We looked at a relevant selection of 79 articles to develop a research agenda. The literature review helped identify strategic initiatives impacting the firm value chain’s redesign involving logistics capabilities, marketing, sales, and service. Outcomes of this study make significant contributions to the field. First, firms must reorganize their business models that align with their value chain activities. Second, the literature review in this study adds to a growing understanding of the field of research by showing that engaging with Industry 4.0 and the circular economy is desirable and necessary for internalizing knowledge flows across different value chain actors. Third, this study is a first step in the right direction in developing and understanding the critical role of value chains and evolving business models in a global economy with calls for more sustainable development.

Digitalization driven retail business model innovation: Evaluation of past and avenues for future research trends

Abstract: Increased digitalization enabled innovation and practical examples from the retail industry have captured the attention of marketing scholars, with rapid development in the academic field. The pace of change has significantly accelerated during the Covid-19 crisis. In seeking to (1) investigate the unique characteristics of digitalization enabled retail business model innovation, (2) understand how does digitalization influences changes to the retail business model innovation dimensions, and (3) identify the areas for future research related to retail business model innovation, this study systematically reviews the literature. Employing four databases, a sample of 170 articles were chosen. Based on bibliometric and network analysis and visualization, the major researchers, articles, and topics were rigorously identified. Finally, the results revealed the unaddressed issues in this research area. The study ends with theoretical and managerial implications.

Increasing business supporting capacity in msmes business group tempe bungong nanggroe kerupuk in syamtalira aron district, utara aceh regency

Abstract: The purpose of Community Service is carried out to provide understanding and assist business actors regarding the factors supporting business activities, such as business management factors and legality so that business activities carried out are not only profit-oriented, but business activities can continue to develop in the future by paying attention to and implementing supporting factors for business activities. At the end of the program, partners are expected to be able to do, namely 1). business actors experienced a greater increase in production capacity. 2). business actors have an increased understanding of the importance of good financial bookkeeping. 3). business actors also experienced an increased understanding of the importance of labels (Halal and brands) as a marketing strategy and applying science and technology/electronic media as a means of promotion to increase sales.

Inside the black box: How business model innovation contributes to digital start-up performance

Abstract: Business model innovation is critical to firm survival and success. Digital revolution has reshaped value-creation methods in recent years, spawning various novel business models. However, we still have limited understanding of how a start-up's business model innovation efforts translate into superior performance in the digital economy. Drawing on insights from the demand-side perspective, this study disassembles the business model innovation architecture into three elements—value proposition, value creation, and value capture innovation—and investigates how business model innovation contributes to digital start-up performance. Based on a survey of Chinese digital start-ups, we find that value proposition innovation is positively related to digital start-up performance. Moreover, this relationship is mediated by value creation and value capture innovation. This study contributes to business model research by examining the impact mechanism of business model innovation on firm performance and providing new insights into the demand-side perspective of business model innovation.

Artificial Intelligence and Blockchain Integration in Business: Trends from a Bibliometric-Content Analysis

Abstract: Abstract Artificial intelligence (AI) and blockchain are the two disruptive technologies emerging from the Fourth Industrial Revolution (IR4.0) that have introduced radical shifts in the industry. The amalgamation of AI and blockchain holds tremendous potential to create new business models enabled through digitalization. Although research on the application and convergence of AI and blockchain exists, our understanding of the utility of its integration for business remains fragmented. To address this gap, this study aims to characterize the applications and benefits of integrated AI and blockchain platforms across different verticals of business. Using bibliometric analysis, this study reveals the most influential articles on the subject based on their publications, citations, and importance in the intellectual network. Using content analysis, this study sheds light on the subject’s intellectual structure, which is underpinned by four major thematic clusters focusing on supply chains, healthcare, secure transactions, and finance and accounting. The study concludes with 10 application areas in business that can benefit from these technologies.

Big data analytics capability and market performance: The roles of disruptive business models and competitive intensity

Abstract: Research shows that big data analytics capability (BDAC) is a major determinant of firm performance. However, scant research has theoretically articulated and empirically tested the mechanisms and conditions under which BDAC influences performance. This study advances existing knowledge on the BDAC–performance relationship by drawing on the knowledge-based view and contingency theory to argue that how and when BDAC influences market performance is dependent on the intervening role of disruptive business models and the contingency role of competitive intensity. We empirically test this argument on primary data from 360 firms in the United Kingdom. The results show that disruptive business models partially mediate the positive effect of BDAC on market performance, and this indirect positive effect is strengthened when competitive intensity increases. These findings provide new perspectives on the business model processes and competitive conditions under which firms maximize marketplace value from investments in BDACs.

Value creation and value capture for AI business model innovation: a three-phase process framework

Abstract: Abstract The rise of AI technologies is generating novel opportunities for companies to create additional value for their customers by applying a proactive approach, managing uncertainty, and thus improving cost efficiency and increasing revenue. However, AI technology capabilities are not enough—companies need to understand how the technology can be commercialized through appropriate AI business model innovation. When emerging technologies are introduced, business-model concepts often need to be significantly altered. This is necessary to fully capitalize on disruptive technologies because it is just as important to innovate the business model as it is to build advanced technology solutions. Therefore, the purpose of this study is to explain how AI providers align value-creation and value-capture dimensions in order to develop commercially viable AI business models. To fulfill our stated purpose, this study has adopted an inductive and exploratory single case-study approach centered on a market-leading provider of AI-related services. The findings are consolidated into a process framework that explicitly illustrates the key activities that companies need to perform concerning value creation and value capture for AI business model innovation and commercialization. The framework explains that AI providers need to follow three phases—namely, identifying prerequisites for AI value creation , matching value capture mechanisms, and developing AI business model offer . We also find that AI providers need to test and develop multiple AI business models and operate them simultaneously to ensure commercial success.

Big data-assisted social media analytics for business model for business decision making system competitive analysis

Abstract: Business is based on manufacturing, purchasing, selling a product, and earning or making profits. Social media analytics collect and analyze data from various social networks such as Facebook, Instagram, and Twitter. Social media data analysis can help companies identify consumer desires and preferences, improve customer service and market analytics on social networks, and smarter product development and marketing investments. The business decision-making process is a step-by-step process that enables employees to resolve challenges by weighing evidence, evaluating possible solutions, and selecting a route. In this paper, Big Data-assisted Social Media Analytics for Business (BD-SMAB) Model increases awareness and affects decision-makers in marketing strategies. Companies can use big data analytics in many ways to enhance management. It can evaluate its competitors in real-time and change prices, make deals better than its competitors' sales, analyze competitors' unfavorable feedback and see if they can outperform that competitor. The proposed method examines social media analysis impacts on different areas such as real estate, organizations, and beauty trade fairs. This diversity of these companies shows the effects of social media and how positive decisions can be developed. Take better marketing decisions and develop a strategic approach. As a result, the BD-SMAB method enhance customer satisfaction and experience and develop brand awareness.

Digital transformation in entrepreneurial firms through information exchange with operating environment

Abstract: Changing digital technologies and innovation threaten established business models. Increasing uncertainty in the operating environment often drives the need to transform the core business model of firms through a process of digital business transformation (DBT). In this study, we conduct a longitudinal study of two digital startups in the crowdfunding domain and identify the core attributes driving such transformation in digital ventures. We build a framework that examines how DBT takes place in entrepreneurial firms through information exchange with the environment. This research will help entrepreneurs and managers of such firms design and develop reactive business models for market success.

Business Models in the Industry 4.0 Environment—Results of Web of Science Bibliometric Analysis

Abstract: The Fourth Industrial Revolution affects the operations of companies and results in new strategic thinking. The changes resulting from the requirements of Industry 4.0 force restructuring in many areas of management or the building of new business models. The aim of this article was to indicate the pillars that will form the basis for building business models of enterprises functioning in the era of Industry 4.0. The research methods used in this article were bibliometric analysis and analysis of the content of sophisticated publications. The results of this research are the analysis of the dynamics of publications in the area of business models in the era of Industry 4.0, an indication of the research areas undertaken in these publications and the identification of the pillars that will constitute the basis for building business models in the era of Industry 4.0. Business models in the era of Industry 4.0 are to be a method of increasing and using the company’s resources in order to achieve a competitive advantage through personalization of products and their new quality; their key competitive advantage will be a structure based on a network of cyber-physical cooperation. This article is dedicated to scientists and business practitioners looking for tips for building modern business models.

From the Classic Business Model to Open Innovation and Data Sharing—The Concept of an Open Car-Sharing Business Model

Abstract: The car-sharing market is changing at a dynamic pace. Along with changes and new user habits, car-sharing systems are required to make this market even more accessible and flexible. This solution is possible due to the joining of Mobility-as-a-Service (MaaS) systems and the sharing of data, as well as the implementation of open innovations. However, these are aspects that strongly interfere with the business models of car-sharing systems. Due to this fact, this article is dedicated to the subject of business models in car-sharing systems and the issues of using data sharing and implementing open innovations. This study aimed to analyze the current state of business models and to propose an individual business model of an open car-sharing system based on the concept of open innovation and data sharing. As part of the study, expert surveys were carried out. The results obtained indicate that the dynamics of business models and the development of innovation in car-sharing enterprises are being disrupted. Moreover, most of the current business models are not updated. They also do not consider the subject of open innovation and data sharing, despite operators considering this problem to be significant. The individual model of an open car-sharing system developed in this article was constructed in such a way as to support operators during the transformation of current business models into a modern open model.