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11 – 20 of over 230000To innovate the company business model, executives must first understand what it is, and then examine what paths exist for them to improve on it. This article aims to examine this…
Abstract
Purpose
To innovate the company business model, executives must first understand what it is, and then examine what paths exist for them to improve on it. This article aims to examine this issue.
Design/methodology/approach
The article provides a practical definition of business models and offers a Business Model Framework (BMF) that illuminates the opportunities for business model innovation.
Findings
The article finds that BMF sequences possible business models from very basic (and not very valuable) models to far more advanced (and very valuable) models. Using the BMF, companies can assess where their current business model stands in relation to its potential and then define appropriate next steps for the further advancement of it.
Practical implications
An organization must give a senior manager the resources and authority to define and launch business‐model experiments.
Originality/value
The article provides a cogent model for assessing the potential for new business model innovation, a framework for carrying it out and a management plan for decision making.
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Edward Giesen, Saul J. Berman, Ragna Bell and Amy Blitz
The purpose of this paper is to find out what exactly the term business model innovation encompasses and what type yields the best results.
Abstract
Purpose
The purpose of this paper is to find out what exactly the term business model innovation encompasses and what type yields the best results.
Design/methodology/approach
IBM Consulting researchers first identified the main types of business model innovation, which can be used alone or in combination. They then compared these three types of business model innovation across 35 best practice cases.
Findings
The study found that all new business models can be classified into three types: innovations in industry models; in revenue models and in enterprise models. A key finding was that each type of business model innovation, with the right strategy and strong execution can generate success.
Practical implications
Researchers found that while network plays are being used by diverse companies in different industries and regions and of varying age, size and other characteristics, this tactic has been a particularly useful strategy for older companies.
Originality/value
The study found that best business model innovation strategies provide a strong fit between the competitive landscape for a particular industry and the organization's strengths, shortcomings and characteristics such as age and size.
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This masterclass aims to consider a number of recent business articles and books that can help practitioners clarify the distinction between the strategy development and business…
Abstract
Purpose
This masterclass aims to consider a number of recent business articles and books that can help practitioners clarify the distinction between the strategy development and business model approaches and decide which is appropriate for their situation.
Design/methodology/approach
The article defines the difference between the two approaches this way: business models explain who your customers are and how you plan to make money by providing them with value; strategy identifies how you will beat competitors by being different.
Findings
The paper reveals that a business model approach has limitations. It will not help an organization develop a competitive advantage, outperform its competition, acquire or merge with another organization, or diversify. However, corporate strategy does not identify how to deliver unique value to meet customers' needs.
Practical implications
The main reason why organizations fail at business‐model innovation is too much “tweaking” – incremental attempts at improvement in myriad projects when more radical change to its business model is the answer.
Originality/value
The article proposes that businesses need both strategy development and business model innovation to adapt and thrive as conditions change.
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This paper aims at exposing the risks entrepreneurs and managers run whenever they focus on business model design alone, while disregarding other strategy analysis tools;…
Abstract
Purpose
This paper aims at exposing the risks entrepreneurs and managers run whenever they focus on business model design alone, while disregarding other strategy analysis tools; disclosing what a business model is and is not; and proposing a checklist to frame business models within – rather than without – the process of strategic planning. The business model has recently gained popularity in the broad community of strategists, thanks to its apparent simplicity and straightforward applicability. Yet, business models have a dark side too, residing in their fuzzy relationship with strategy and little theoretical foundations.
Design/methodology/approach
This paper is based on a survey on 105 C-level managers involved in strategy formulation and business model design.
Findings
The business model is often misinterpreted by strategists, who show a tendency to employ it as a substitute – not a complement – for traditional strategy analysis frameworks; however, such approach has significant downsides, as it fails to provide a holistic view on strategy. To exploit business models’ value, strategists should use them as instruments for business idea generation, strategy execution and innovation.
Practical implications
Entrepreneurs and managers are faced with the pros and cons related to the use of business models, and are provided with action points to include the model in the overall business strategic planning.
Originality/value
By questioning the current use of business models, the paper sheds light on its actual value and role in relation to strategy.
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Choon Seong Leem, Hyung Sik Suh and Dae Seong Kim
Although there have been a lot of studies on mobile business, it is hard to find ones in which an integrated perspective of mobile business based on both customers’ and companies’…
Abstract
Although there have been a lot of studies on mobile business, it is hard to find ones in which an integrated perspective of mobile business based on both customers’ and companies’ needs is suggested. This research develops a mobile business model classification scheme and applies it to analysis of current status in mobile business. In the first case study on 65 firms in Korea, mobile solutions are categorized based on the classification scheme in order to analyze an overall market environment of mobile business. In the second case study on mobile service trend analysis, a set of evaluation indices including four general indices, ten effectiveness indices and 13 measurement indices were developed to analyze mobile service environment in the perspective of B2C (business to customer). For the second case study, 200 mobile heavy users were questioned on the mobile service‐related issues.
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Internet + and Electronic Business in China is a comprehensive resource that provides insight and analysis into E-commerce in China and how it has revolutionized and continues to…
Abstract
Internet + and Electronic Business in China is a comprehensive resource that provides insight and analysis into E-commerce in China and how it has revolutionized and continues to revolutionize business and society. Split into four distinct sections, the book first lays out the theoretical foundations and fundamental concepts of E-Business before moving on to look at internet+ innovation models and their applications in different industries such as agriculture, finance and commerce. The book then provides a comprehensive analysis of E-business platforms and their applications in China before finishing with four comprehensive case studies of major E-business projects, providing readers with successful examples of implementing E-Business entrepreneurship projects.
Internet + and Electronic Business in China is a comprehensive resource that provides insights and analysis into how E-commerce has revolutionized and continues to revolutionize business and society in China.
Donald Mitchell and Carol Coles
Discusses the idea that continuing business model innovation provides a parallel way to outperform the competition. Improving a company’s business model by redirecting its focus…
Abstract
Discusses the idea that continuing business model innovation provides a parallel way to outperform the competition. Improving a company’s business model by redirecting its focus will mean that competitors will be left out of position and unable to respond effectively.
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