TY  - JOUR
AB  - Purpose The purpose of this study is to investigate the need for an evolving business model that accounts for social, as well as business-related risks/rewards considerations, that is, for owner-managers with lifestyle as opposed to growth-oriented objectives.Design/methodology/approach The methodological approach undertaken involved in-depth interviews with the firm’s owner-managers, supplemental interviews with members of staff, observation, plus examining documents from secondary sources. Data gathering involved a period of three years to account for an evolving business model over time.Findings The findings from an instrumental case study demonstrate the need to adapt a firm’s business model in the light of changing circumstances. Additionally, in the context of owner-managers with lifestyle as opposed to growth-oriented objectives, to account for social in addition to business-related considerations in planning activities.Originality/value The originality of the study is to incorporate a longitudinal case study in to the entrepreneurial marketing literature. Specifically, this offers implications for business support organisations that advise prospective owner-managers; that is, in respect of the need for effective planning in formulating an evolving and enduring business model. Implications also highlight in a business sense, that turnaround of a poorly performing firm may be possible, for example, to overcome initial inadequate marketing planning. However, for owner-managers with lifestyle as opposed to growth-oriented objectives, a combination of both business and social factors need consideration to maintain a work/life balance. A venture that relies on personal and business relationships may not be viable if the partners cannot work together, no matter if the venture is performing well.
VL  - 21
IS  - 2
SN  - 1352-2752
DO  - 10.1108/QMR-01-2017-0001
UR  - https://doi.org/10.1108/QMR-01-2017-0001
AU  - Crick Dave
AU  - Chaudhry Shiv
AU  - Crick James M.
PY  - 2018
Y1  - 2018/01/01
TI  - Risks/rewards and an evolving business model: A case study of a small lifestyle business in the UK tourism sector
T2  - Qualitative Market Research: An International Journal
PB  - Emerald Publishing Limited
SP  - 143
EP  - 165
Y2  - 2024/04/25
ER  -