The dynamic approach to business models

A1 Journal article (refereed)


Internal Authors/Editors


Publication Details

List of Authors: Anna-Greta Nyström, Miia Mustonen
Publisher: SpringerLink
Publication year: 2017
Journal: AMS Review
Volume number: 7
Issue number: 3-4
Start page: 123
End page: 147
eISSN: 1869-8182


Abstract

The many definitions of business models can be summarized into two
distinct approaches, the static and the transformational. This paper
proposes a third approach, namely a dynamic approach to business models
and argues that the flexible and adaptive nature of business models can
be developed further based on the industrial network approach. The
business model is embedded in business contexts and business networks,
and is dependent on changes in the business environment. Due to these
mutual dependencies between business network actors, and in the pursuit
of new capabilities and resources, the business model may also build on
co-production, collectivity and sharing, and be utilized by the many
actors embedded in value networks. This differs from the traditional
view, in which companies create value independently of each other. A
networked, flexible, and co-produced business model offers a novel tool
for strategizing turbulent business environments.


Keywords

Business model, Business networks, Co-production, Dynamic, Flexible

Last updated on 2019-22-08 at 05:12