Business model configurations: a five-V framework to map out potential innovation routes
- Document type
- Taran, Y.; Nielsen, C.; Montemari, M.
- Date of publication
- 5 July 2016
- Management & leadership: including strategy, public sector management, operations and production
- Business and management
- Material type
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.
The authors conducted a systematic literature review to group existing BMs into appropriate groups. The BMs are then grouped into separate classes.
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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