Designing new business models: blue sky thinking and testing

Cara Wrigley (School of Design, Queensland University of Technology, Brisbane, Australia)
Sam Bucolo (Design Innovation Research Centre, University of Technology, Sydney, Australia)
Karla Straker (Design Innovation Research Centre, University of Technology, Sydney, Australia)

Journal of Business Strategy

ISSN: 0275-6668

Publication date: 19 September 2016

Abstract

Purpose

In what is going to be an uncertain and rapidly evolving global economic landscape, it is clear that firms will have to become more adaptive and responsive to changes within their marketplace. To do this, businesses will not only need to engage in business model experimentation but also look to embrace business model innovation as a core competency and a means for sustained competitive advantage.

Design/methodology/approach

This paper outlines how a design process of experimenting and prototyping can apply to the design of business models through the case study of hypothetical luggage company Packright.

Findings

Five meta-models with differing foci are illustrated as an accessible and provoking framework that provides a new logic to classifying, experimenting and prototyping business model designs.

Practical implications

These five meta-models provide a tangible starting point from which a business can begin to explore different perspectives and gain insights into the internal and external capabilities of their company.

Originality/value

This paper builds upon the emerging research and exploration into the importance and relevance of dynamic, design-driven approaches to the creation of innovative business models.

Keywords

Citation

Wrigley, C., Bucolo, S. and Straker, K. (2016), "Designing new business models: blue sky thinking and testing", Journal of Business Strategy, Vol. 37 No. 5, pp. 22-31. https://doi.org/10.1108/JBS-04-2015-0041

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Publisher

:

Emerald Group Publishing Limited

Copyright © 2016, Emerald Group Publishing Limited

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