| 1. |
- Abrahamsson, Jan Tony, et al.
(författare)
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The Effect of Business Model Innovation Announcements on Share Prices - A Study of US Listed Technology Firms
- 2019
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Ingår i: Journal of Business Models. - : Aalborg Universitetsforlag. - 2246-2465. ; 7:2, s. 37-52
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: In this study, we empirically investigate the link between business model innovation and stock market performance, as measured by volatility, accumulated growth, exponential growth and earnings per share, in 147 US stock market listed technology companies between 2014 and 2016. As such, the purpose of the study is to examine how business model innovation behavior is received by stock market investors and consequently reflected in their stock market performance. We also propose that multiple business model innovations have a more positive stock market impact than a single business model innovation.Design/methodology/approach: This paper employs a quantitative research design, utilizing stock market data from Bloomberg together with secondary data gathered for assessing business model innovations. To test the hypotheses, we specify and estimate a set of similarly unrelated regressions (SUR) with market indicators as dependent variables (DVs) and business model innovation as core independent variable (IV), controlling for market capitalization and industry affiliation of the firm. As market performance indicators are likely to be affected by the same unobservables, SUR is a preferred specification as it allows accounting for contemporaneous correlations (Greene, 2012).Findings: The results yielded significant and positive results, by conventional measures, regarding two out of four of the dependent variables, namely exponential growth and cumulative growth regarding multiple business model innovations. However, for the other two dependent variables, volatility and earnings per share, the results were positive for multiple business model innovations and more so than single business model innovation. Although, not quite statistically significant by conventional measurements.Research limitations/implications: Limitations of this study include a single country-focus, relatively few firms and a single industry. Further research in this area might do well to mitigate all these factors, by looking, for example, at cross-country samples across a few or several different industries. Another limitation to our research is the limited information regarding the precise number of BMIs within the companies, which did not allow us to assign continuous values to the BMI variable; nevertheless, it can be done in the future studies.Regardless of the study’s limitations, it contributes to recent academic debates with regard to business model innovation and the effects of different types of performance that business model innovation can have. Few studies have looked at BMI in conjunction with stock market data before and more studies of this type are likely needed to solidify results for more generalized conclusionsPractical implications: The study gives the signal to managers in high-technology listed firms that business model portfolios and multiple business model innovation, while each being smaller “bets” is looked upon favorably by stock market investors in the short term and can, therefore, also be good for the focal company in the shorter term. Hence, the study provides empirical support to the notion that listed firms should dare to be innovative and experiment with several concurrent business models to pursue new growth opportunities, as the stock market rewards such behavior.Originality/value: Few studies have previously looked at business model innovation and stock market performance across different performance metrics. In addition, this study argues that portfolios of business model innovations are driving stock market performance and therefore offer insight into how listed companies can manage their business model innovation efforts in alignment with stock market expectations.
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| 2. |
- Buser, Martine, 1967, et al.
(författare)
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Developing New Sustainable Strategy: The Struggle of Small and Medium Swedish Contractors Companies to Experiment with Business Models
- 2020
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Ingår i: Journal of Business models. - 2246-2465. ; 8:2, s. 101-114
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: This paper analyses the efforts and challenges met by Small and Medium contractors to develop new business models when struggling to implement retrofit solutions for single house owners’ renovation. Design/methodology/approach: The paper builds on a four years action research project with 21 Swedish contractors from the Gothenburg region testing the business model canvas to develop energy efficient solutions. The project method includes 67 interviews with craftsmen and their customers, 18 workshops gathering the companies in two groups to develop new sustainable business models and 16 shadowing of visits to their customers. Findings : Our study underlines how SMEs contractors concentrated on their technical core business tend to underestimate their customer relationship. Both customer segments and relationships escape from formalisation as these companies do not dare to exclude any client and are inclined to reduce customer relationship to personal interaction. Besides, these project base companies are challenged by the blocks presented by the canvas and struggle to match the model with their own organisation. Original value: Differently to most researches on business models and sustainability, this paper addresses the concrete difficulties construction SMEs face when implementing business models.
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| 3. |
- Havemo, Emelie, 1987-
(författare)
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Communicating The Business Model at a Swedish Start-Up : An Interpretive Study
- 2019
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Ingår i: Journal of Business Models. - : Aalborg Universitetsforlag. - 2246-2465. ; 7:2, s. 14-30
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: Although the notion of articulating and communicating ideas is central to theories of business models, the current literature has scarcely explored how business models are used and communicated by practitioners. The label “business model” itself can both organize and construct beliefs and actions. The purpose of this paper is to explore the roles of practitioner-described business models by using an interpretive approach.Design/Methodology/Approach: The study is based on the case study of a Swedish technology start-up with a business model labelled “hardware plus software”. The firm’s conceptualizations of this business model in public and non-public sources were analysed in order to show how a practitioner-described business model was used.Findings and Contributions: The business model label can be used at different organizational levels using different levels of abstraction, and may include multiple—and sometimes conflicting—perspectives. The paper shows how a practitioner-defined business model label served as a communication device by supporting three roles: communicating strategy, learning from others, and articulating identity.Originality/Value: The study introduces the notion of the business model as a communication device by showing how the label itself both enables and constrains interpretations of the firm in practice. The finding of parallel representations contradicts the implicit assumption that firms refer to a “single business model” by showing the diversity of articulations of the business model depending on the time frame, the role of the communicator, and communication arenas.
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| 4. |
- Havemo, Emelie, 1987-
(författare)
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Sustainable Trajectories for Business Model Innovation
- 2023
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Ingår i: Journal of Business Models. - 2246-2465. ; 11:1, s. 58-67
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Tidskriftsartikel (refereegranskat)abstract
- This paper introduces a visual approach to sustainable business model innovation that helps business model designers conceptualise how sustainability can be integrated in business models. Drawings are used to illustrate four sustainable trajectories for business model innovation. The visualisation of trajectories helps to open the “black box” of sustainable value creation by enabling different understandings of value creation from a business model perspective. The paper also introduces and exemplifies the concept of “multi-lens” thinking for sustainable business model innovation, which entails combining insights from several perspectives.
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| 5. |
- Hokannen, Harri, et al.
(författare)
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Business Model Opportunities in Brick and Mortar Retailing Through Digitalization
- 2020
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Ingår i: Journal of Business Models. - : Ålborg University Press. - 2246-2465. ; 8:3, s. 33-61
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: In current retailing, digitalization provides new value creation mechanisms that increase competition and offer customers myriad options to fulfil their needs. Increasing complexities in the retail field has instigated restructuring, pressuring traditional retailers to reconsider their business models. The purpose of this study is to explore and identify the ways in which brick and mortar retailers are approaching opportunities presented by digitalization.Design/methodology/approach: 26 semi-structured interviews were conducted with top-level retail managers from the UK and Finland. This exploratory study analyzes the qualitative data through the five key drivers of innovation (operational effectiveness and efficiency, lock-in, customer effectiveness and efficiency). The opportunities are presented in terms of the three business model elements (format, activities, and governance).Findings: The findings illustrate seven key business model opportunities enabled by digitalization. Retailers are responding to competition, providing speed and convenience through multiple channels, leveraging digital tools to improve efficiencies and deliver customer experiences, rethinking management models, and adjusting organizational approaches. However, brick and mortar retailers should re-evaluate the business model elements collectively in order to seize opportunities that drive profits and gain competitive advantage. Originality/value: This topic is pertinent due to the accelerated restructuring of retail markets, yet the subject is underexplored in the literature. This paper highlights brick and mortar retail managers' perceptions and experiences of adapting through digitalization. Guided by this enriched data, we provide contributions by identifying and suggesting opportunities in brick and mortar retail business model reconfiguration.
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| 6. |
- Jan, Michalak, et al.
(författare)
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Business Model Disclosures in Corporate Reports
- 2017
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Ingår i: Journal of Business Models. - 2246-2465. ; 5:1, s. 51-73
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: In this paper, we investigate the development, the current state, and the potential of business model disclosures to illustrate where, why and how organizations might want to disclose their business models to their stakeholders. The description of the business model may be relevant to stakeholders if it helps them to comprehend the company ‘story’ and increase understanding of other provided data (i.e. financial statements, risk exposure, sustainability of operations). It can also aid stakeholders in the assessment of sustainability of business models and the whole company. To realize these goals, business model descriptions should fulfil requirements of users suggested by various guidelines. Design/Methodology/Approach: First, we review and analyse literature on business model disclosure and some of its antecedents, including voluntary disclosure of intellectual capital. We also discuss business model reporting incentives from the viewpoint of shareholders, stakeholders and legitimacy theory. Second, we compare and discuss reporting guidelines on strategic reports, intellectual capital reports, and integrated reports through the lens of their requirements for business model disclosure and the consequences of their use for corporate report users. Third, we present, analyse and compare examples of good corporate practices in business model reporting. Findings: In the examined reporting guidelines, we find similarities, e.g. mostly structural but also qualitative attributes, in their presented information: materiality, completeness, connectivity, future orientation and conciseness. We also identify important differences between their frameworks concerning the target audience of the reports, business model definitions and business model disclosure requirements. Discontinuation of intellectual capital reporting conforming to DATI guidelines provides important warnings for the proponents of voluntary disclosure – especially for International Integrated Reporting Council guidelines. Still, because relatively few studies have examined the preparation and use of business model disclosures, we suggest areas for further research. Originality/Value: This paper is the first that investigates, analyses, and compares the three most common reporting frameworks that contain business model reporting and disclosures.
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| 7. |
- Johansson, Marlene, et al.
(författare)
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Competing with the use of business model innovation : an exploratory case study of the journey of born global firms
- 2014
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Ingår i: Journal of Business Models. - 2246-2465. ; 2:1, s. 33-55
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: The purpose of this article is to investigate how business models are used by born global firms to act upon new business opportunities and how they manage business model innovation over time to prosper and grow.Design/Methodology: The study is based on three exploratory case studies of born global firms in mobile communication, financial services and digital music distribution. Findings: Three interrelated capabilities to manage business model innovation are articulated in the context of born global firms; sensing capabilities, entrepreneurial capabilities and relational capabilities and four propositions are formulated. We find that business model innovations are used as a tool by maturing born global firms to navigate the value chains and achieve international growth. We further propose that born global need the capabilities to balance different business model designs simultaneously and to manage its business model innovation in a timely manner.Originality: This article contributes to both the business model literature and research of international entrepreneurship. By putting business model research into the dynamic context of rapidly internationalizing born global firms, we contribute to the field of business model research with findings of how business models are used in the internationalization processes. Certain capabilities are needed to manage business model innovation for born global firms to dynamically use business models as a tool in the international growth overtime.
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| 8. |
- Maffei, Antonio, 1982-, et al.
(författare)
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From Invention to Innovation: Teaching Business Models to Manufacturing Researchers
- 2021
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Ingår i: Journal of Business Models. - 2246-2465. ; 9:3, s. 17-24
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Tidskriftsartikel (refereegranskat)abstract
- The competence and skills required to bring technological advancements to the market are increasingly perceived asa key element in the engineering researchers’ toolbox. Nevertheless, business modelling is rarely taught in technical engineering programs. This paper presents the design and implementation of a course called “Business DrivenProduction Development” for manufacturing PhD students at KTH Royal Institute of Technology in Stockholm,Sweden.
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| 9. |
- Malmström, Malin, et al.
(författare)
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Practicing Business Model Management in New Ventures
- 2017
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Ingår i: Journal of Business Models. - : Journal of Business Models. - 2246-2465. ; 5:1, s. 1-13
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: The purpose of this paper is to enhance the knowledge of business modeling in the early phases byexploring its core components and the management of those components. This will be achieved by answeringthe following exploratory questions: What aspects of business model components do entrepreneurs processin the early stages? How do entrepreneurs process those aspects?Design/Methodology/Approach: In this qualitative study, data was collected during semi-structured interviewswith six entrepreneurs.Findings: The findings support the argument that when studying the early stages of business model management, to gain a richer understanding of the entrepreneurial process, acknowledging the resource activities isimportant. Our findings highlight that cash and competence appear to be essential focus in managing businessmodel components in early stage. We also found that entrepreneurs may create resource slack that allowsbusinesses to carve out a competitive position in the marketplace by focusing on business model designand management.Originality/Value: Although business model research is developing rapidly, one prominent gap in the field ishow entrepreneurs manage their business models in the early start-up stages. In particular, there is a lack of knowledge about what entrepreneurs focus on in their business model management in early start-up stagesand how they manage these aspects, an area to which this research contributes.
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| 10. |
- Massa, Lorenzo, et al.
(författare)
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Business models and complexity
- 2018
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Ingår i: Journal of Business Models. - 2246-2465. ; 6:1, s. 59-71
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: To offer a -necessarily non-exhaustive- analysis of the meaning and significance of the notion of a complex system for research on the Business Model (BM).Design/Methodology/Approach: Conceptual paperFindings: Drawing from early research in complexity and debates that have inspired work in General System Theory, system thinking and cybernetics, we identify four insights, notably i) modeling of complex systems, ii) interdependencies, iii) nested hierarchies and iv) information processing that, we contend, have the potential to shed light on novel possibilities for understanding BMs. We offer an analysis.Research Limitations/Implications: Limitation: exclusive focus on early interpretation of the notion of complexity as referring to a characteristic of a system. The paper does not explore the implications of the more modern understanding of complexity as referring to the ‘behavior’ of a system (complex system vs. complex behavior)Practical Implications: we may be attempting to represent a system which is very complex, the BM and the organization behind it, at the level of the anatomy, only reflecting its main components. This is subject to inherent limitations.Originality/Value: To show that, within the line of inquiry understanding the business model (BM) as some reality existing at the level of the firm, a BM may resemble what students of complexity refer to as a complex system. To explore the meaning and significance of the notion of complexity and of a complex system for research on the BM.
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