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- Rydehell, Hanna, 1989, et al.
(författare)
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Business Model Measurements: A Systematic Literature Review
- 2015
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Ingår i: RENT XXIX – Research in Entrepreneurship and Small Business, Zagreb, November 18-20.
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Konferensbidrag (refereegranskat)abstract
- Objectives: In this paper, we systematically review the ways to measure business models and we explain what measures would help us to further develop our study of the link between business architectures and performance. Indeed, until today, a great variety of measures of business model have been made, but no consensual measurement tool has emerged. The absence of general measurement tools makes it hard to analyse the effects that a business model might have on firm performance.Prior work: Focus of business models has been shifting from understanding how organizational design allows firm growth in internet industry (Timmers 1998) to the study of value creation in any industry (Amit & Zott 2001). As such, business model research produced many different definitions of the concept (Onetti et al. 2012), and there are some literature reviews trying to understand what a business model is and what it aims for (e.g. George & Bock 2011; Zott et al. 2011; Sahut et al. 2012). Most frameworks on business models describe the concept as configuration of business activities to create and deliver value for customers, converting it into economic value (Chesbrough & Rosenbloom 2002; Magretta 2002). Thus, it starts to be consensus on what a business model is, but we still need a clarification of business model measurement tools.Approach: We conduct a systematic review of prior research on business models, focusing on how the business model is measured, and why. We also consider what conclusions can be drawn by authors with their measurement tools. This systematic review method has shown its relevance in context of research topics that are dispersed and need focus and clarification (Schneider & Spieth 2013). This is especially the case for the literature on business models (Baden-Fuller & Morgan 2010). The review process is adapted from systematic review methodology (Tranfield et al. 2003) to make the literature review transparent and replicable. As such, we have a two steps review process: first, we select papers on business model measurements, and then, we analyse them with systematic methods.Results: Beyond classifying and evaluating business models based on proposed components in models, our results show that research has mainly focused on the change and innovation of business models on the one hand, and on efficiency on the other hand. The more quantitative measurements have focused on how the entire business model affects innovativeness or performance of the firm, not providing however, a consensus of how business models in general can be measured across different industries.Implications and Value: Previous research on business model focusing on qualitative measurement does not fully support practitioners or academia to understand the impact of business models and how different choices influence some firm dimensions. The results of this systematic literature review bring some solutions to this measurement issue of business models and contribute to extend the scope of business model measurements. A standard measure of business model allows academics to actually assess the effect of firms’ architecture across industry. Thus, it is adding value to the research field on business models as well as to practitioners who want to be able to measure the effects of their business activities.
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- Rydehell, Hanna, 1989, et al.
(författare)
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Initial configurations and business models in new technology-based firms: A case study approach
- 2015
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Ingår i: The 23rd Nordic Academy of Management Conference, Copenhagen, August 12-14.
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Konferensbidrag (refereegranskat)abstract
- Purpose: This paper aims to analyse perceptions of initial configuration and business models in new technology-based firms (NTBFs). Based on our findings on this exploratory study we also aim to search for theoretical explanation of the observed behaviour and to give insights to support future development of quantitative measurements of initial business models. Design: The paper is empirically investigating initial configurations and business models of NTBFs in the first years of start-up, with data compiled from case studies of 8 Swedish NTBFs. Firms were selected based on Statistical Classification of Economic Activities in the European Community (NACE) codes considered high-tech and the year of founding.Findings: The study illustrate how founders structure their business activities in the start-up, and which components of the business model that they consider most important (e.g. identify value proposition and create relationship to customers). We could also recognise signs of isomorphic behaviour among the NTBFs, which suggest that institutional theory could be a fruitful area for future research on business models.Originality/value: The paper adds value to business model research by describing how NTBFs’ structure their initial business activities and which dimensions of the initially business model that are perceived as more crucial during the early years of NTBFs. Furthermore, we also contribute to future development of quantitative measurements of initial business models.
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- Rydehell, Hanna, 1989, et al.
(författare)
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Perceptions of Initial Business Models in New Technology-Based Firms
- 2015
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Ingår i: RENT XXIX – Research in Entrepreneurship and Small Business, Zagreb, November 18-20.
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Konferensbidrag (refereegranskat)abstract
- Objectives: The paper explores the perception of initial business models in new technology-based firms (NTBF). Understanding perceptions of the business model concept could offer explanations to decisions made when developing the business model. Moreover, it could offer explanations about consequences that business models may have on firm performance and survival.Literature review: The field of business model has expanded since the nineties, discussing perspectives of firms and how firms create, deliver and capture value (see e.g. Zott et al., 2011). For NTBFs, the change and innovation of the initial business model are important for adapting to the variation in the business environment, thus influencing the success (Morris et al., 2005; Andries and Debackere, 2007). However, how founders perceive and define their business model are still not addressed clearly in previous research (DaSilva and Trkman, 2014), which create a gap in our understanding of what influences decision-making when developing the business model. Consequently, it will affect the performance of these new ventures. Hence, exploration of founders’ perception of initial business models in NTBFs is important to increase our understanding of how business model are formed and ultimately affect firms’ performance and survival.Approach: Due to the explorative nature of our research problem, case studies where chosen as the most appropriate data collection method. In total 28 Swedish NTBFs has been investigated through semi-structured interviews, discussions with founders and managers of these firms and plant visits. Cases (NTBFs) were selected based on two criteria; founding year (not older than five years) and technological intensity and based on NACE codes. An interview guide was developed with interactive elements, which enhanced the possibilities to capture the perceptions of initial business model. The guide was partly based on the Business Model Canvas (Osterwalder and Pigneur, 2010) – a tool that is frequently used to describe, analyse and design business models. The interactive elements included timelines and physical cards with names of business model building blocks that the respondent where asked to sort, rank, and describe. Further, analysis of the data were made in two steps: first, each case was coded and within-analysed, and secondly, cross-case analysis (Eisenhardt, 1989; Eisenhardt and Graebner, 2007) was used to compare and find relationships between cases.Results: The findings from the qualitative data demonstrate that founders with a coherent (complete) perception of what a business model is – that is can account for the essential elements contained in the concept – more often prioritize customers in the development process, and further have a more controlled process (i.e. knowing where the firm is heading) when it comes to performance. There are also indications that involvement of external financial partners in the business model development process, can have either an influence towards a partial perception and an uncontrolled process on the one hand, or a complete perception, prioritization on customers and a controlled process on the other hand.Implication and value: The paper enhance the business model literature by offering propositions of a relation between founders’ perception of the business model concept and possible consequences for the firms’ performance. Further, the study provides implications for practitioners and entrepreneurs founding NTBFs by suggesting consideration of customer interaction in the start-up phase, and what founders should have in mind if involving external financial partners in the development process.
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