Designing innovative business models with a framework that promotes experimentation

Abstract

Purpose

Business models to date have remained the creation of management, however, it is the belief of the authors that designers should be critically approaching, challenging and creating new business models as part of their practice. This belief portrays a new era where business model constructs become the new design brief of the future and fuel design and innovation to work together at the strategic level of an organisation.

Design/methodology/approach

The purpose of this paper is to explore and investigate business model design. The research followed a deductive structured qualitative content analysis approach utilizing a predetermined categorization matrix. The analysis of forty business cases uncovered commonalities of key strategic drivers behind these innovative business models.

Findings

Five business model typologies were derived from this content analysis, from which quick prototypes of new business models can be created.

Research limitations/implications

Implications from this research suggest there is no “one right” model, but rather through experimentation, the generation of many unique and diverse concepts can result in greater possibilities for future innovation and sustained competitive advantage.

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. These models aim to synthesize knowledge gained from real world examples into a tangible, accessible and provoking framework that provide new prototyping templates to aid the process of business model experimentation.

Citation

Wrigley, C. and Straker, K. (2016), "Designing innovative business models with a framework that promotes experimentation", Strategy & Leadership, Vol. 44 No. 1, pp. 11-19. https://doi.org/10.1108/SL-06-2015-0048