Business model configurations: a five-V framework to map out potential innovation routes

Business model configurations: a five-V framework to map out potential innovation routes
Document type
Article
Author(s)
Taran, Y.; Nielsen, C.; Montemari, M.
Publisher
Emerald
Date of publication
5 July 2016
Subject(s)
Management & leadership: including strategy, public sector management, operations and production
Collection
Business and management
Material type
Reports

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This article is about business model (BM) innovation. It starts from the premise that managers - according to the authors - still lack appropriate frameworks and tools to support them in updating their company's existing BM.

The purpose of the paper is to offer managers a set of tools to develop new BM and improve existing ones.

Methodology

The authors conducted a systematic literature review to group existing BMs into appropriate groups. The BMs are then grouped into separate classes.

Findings

The paper systematically develops a list of 71 BM configurations and groups them into an ontological classification scheme according to five groups: Value Proposition, Value Segment, Value Configuration, Value Network, and Value Capture. 

The paper illustrates how the BM innovation framework, enabled by this ontological classification scheme, provides a platform for identifying BM innovation routes for companies, allowing managers to envisage radical, disruptive, and new-to-the world BM configuration ideas, or apply existing configurations from other industrial settings in what may be deemed new-to-the-industry innovation.

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