Topic
Business model
About: Business model is a research topic. Over the lifetime, 31509 publications have been published within this topic receiving 599504 citations.
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TL;DR: In this paper, business models are defined as configurations of 12 interrelated elements, covering market, offering, operational, and management viewpoints, and the authors investigate business models as a broader conceptualization of value co-creation that captures this change.
Abstract: Purpose – A common thread in the modern marketing theories, such as service‐dominant logic and viable systems approach, is the notion value co‐creation: the locus of value creation is no longer perceived to reside within firm boundaries but value is considered to be co‐created among various actors within the networked market. The evolution of value creation, from value creation by the manufacturing firm to value co‐creation in a network, necessitates a corresponding change in the concepts used to depict value creation. The purpose of this paper is to investigate business models as a broader conceptualization of value co‐creation that captures this change.Design/methodology/approach – The topic is approached by a combination of literature review and interactive research, including interactions with managers from 12 international companies.Findings – Business models are defined as configurations of 12 interrelated elements, covering market, offering, operational, and management viewpoints. The effectiveness...
317 citations
TL;DR: In this paper, a stakeholder value creation framework derived from key characteristics of stakeholder theory is proposed for the case of business models for sustainability, and the framework aims to support theoretical and empirical analyses of value creation as well as the management and transformation of business model in line with corporate sustainability ambitions and stakeholder expectations.
Abstract: Business models are developed and managed to create value. While most business model frameworks envision value creation as a uni-directional flow between the focal business and its customers, this article presents a broader view based on a stringent application of stakeholder theory. It provides a stakeholder value creation framework derived from key characteristics of stakeholder theory. This article highlights mutual stakeholder relationships in which stakeholders are both recipients and (co-) creators of value in joint value creation processes. Key findings include that the concept and analysis of value creation through business models need to be expanded with regard to (i) different types of value created with and for different stakeholders and (ii) the resulting value portfolio, i.e., the different kinds of value exchanged between the company and its stakeholders. This paper details the application of the stakeholder value creation framework and its theoretical propositions for the case of business models for sustainability. The framework aims to support theoretical and empirical analyses of value creation as well as the management and transformation of business models in line with corporate sustainability ambitions and stakeholder expectations. Overall, this paper proposes a shift in perspective from business models as devices of sheer value creation to business models as devices that organize and facilitate stakeholder relationships and corresponding value exchanges.
316 citations
TL;DR: In this paper, the authors identify, organize and analyzes existing empirical research to highlight the value of the business model as a research construct and improve the general understanding of business model concept.
316 citations
TL;DR: In this article, the authors explore the hybrid phenomenon of social business, that is, both a form of organization and a practice that deliberately harnesses market dynamics to address deeply rooted social issues through the design and implementation of a core product or service.
Abstract: This article explores the hybrid phenomenon of social business, that is, both a form of organization and a practice that deliberately harnesses market dynamics to address deeply rooted social issues through the design and implementation of a core product or service. This new form of hybrid venture melds the social purpose traditionally associated with non-profit organizations with the economic purpose and market-based methods traditionally associated with for-profit firms. This exploratory research inductively explores the process by which social businesses are designed. The result suggests that clear intentionality around social purpose drives the design of these ventures and their associated missions and business models such that they can creatively synthesize competing paradigms (economic and social purpose) within one venture. The tight coupling of mission, method, and operationalization allows for the multi-stakeholder promise of the business model to be fulfilled.
315 citations
TL;DR: In this article, the authors investigated utilities' business models for renewable energies by analyzing two generic business models based on a series of in-depth interviews with German utility managers and found that utilities have developed viable business model for large-scale utility-side renewable energy generation.
313 citations