Business model adaptation as a strategic response to crises: navigating the COVID-19 pandemic

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Teerawut Chanyasak ◽  
Mehmet Ali Koseoglu ◽  
Brian King ◽  
Omer Faruk Aladag
Keyword(s):  
Business Model ◽  
Business Models ◽  
Single Case ◽  
Government Support ◽  
Model Adaptation ◽  
Content Type ◽  
Strategic Response ◽  
Boutique Hotel ◽  
Patterns And Processes ◽  
Crisis Situations

Purpose This study aims to explore how hotels adapt their business models as a strategic response to crisis situations. It sheds light on the processes and methods of business model adaptation during severe crisis situations, such as the COVID-19 outbreak. Design/methodology/approach A single-case study was conducted. Data were collected from the owner/manager of a boutique hotel chain in Chiang Mai, Thailand through an extensive interviewing process. The authors also examined corporate documents. The authors then re-organized the material as a coherent narrative about how the company navigated the COVID-19 crisis. Findings The findings show that the hotels in the study adapted their business models by cutting costs through stopping non-essential operations, increasing non-room revenues and adding new revenue channels, bringing in cash from advance bookings, securing financial support from creditors, leveraging government support and training staff for the “new normal.” Originality/value Few previous studies have focused on business model adaptation during the COVID-19 crisis. The investigation of this largely neglected area provides two main contributions. First, it extends the literature on crisis management in hospitality firms by examining business model adaptation patterns and processes during unprecedented crisis conditions. Second, it provides managerial insights and a business model adjustment framework to help practitioners in urban settings in their efforts toward recovery from the COVID crisis.

scholarly journals Driving internationalization through business model innovation

2019 ◽  
Vol 28 (2) ◽  
pp. 201-220 ◽  
Author(s):  
Angelo Cavallo ◽  
Antonio Ghezzi ◽  
Bertha Viviana Ruales Guzmán
Keyword(s):  
Business Model ◽  
Design Methodology ◽  
Business Models ◽  
International Entrepreneurship ◽  
Single Case ◽  
Business Model Innovation ◽  
Content Type ◽  
A Company ◽  
North Western

Purpose This paper aims to investigate how a firm may innovate its business model to internationalize. Design/methodology/approach Owing to its novelty and to the depth of the investigation required to grasp the mechanisms and logics of business model innovation aiming at internationalization, a single case study has been performed related to a company located in North-Western Colombia. Findings The study provides detailed empirical evidences over the mutual connection and complementarities among value mechanisms of business models. Moreover, this study suggests that BMI fosters internationalization to scale, which, in turn, will require additional changes to match new customer needs as they emerge. Also, the study shows an extension of the action–space of lean startup approaches, intended as scientific approaches to international entrepreneurship. Originality/value This study connects business model innovation and internationalization as few studies have done before.

Business model innovation

2015 ◽  
Vol 9 (3) ◽  
pp. 200-218 ◽  
Author(s):  
Jaqueline Pels ◽  
Tomás Andrés Kidd
Keyword(s):  
Business Model ◽  
Business Models ◽  
Single Case ◽  
Business Model Innovation ◽  
Three Dimensions ◽  
Bottom Of The Pyramid ◽  
Bottom Up ◽  
Content Type ◽  
The Social ◽  
Medical Healthcare

Purpose – The purpose of this paper is to develop a framework that expands business model innovation literature by including a social goal, the emerging markets (EMs) environmental characteristics and adopting a bottom-up perspective. Design/methodology/approach – This paper draws on a single-case study. Sistema Ser/CEGIN (SER–CEGIN) is an Argentine social business that offers high-quality medical healthcare to BOP users. Findings – The paper presents a new conceptualization on business model innovation that includes three dimensions: firm-centric, environment and customer-centric. The framework incorporates to the traditional framework on business model innovation, the social profit equation, the general and task environment and the end-user, as well as the dynamics between them. Research limitations/implications – While the authors acknowledge the importance of studying the components of the business model operating levels (economic, operational and strategic) to determine the type of business model innovation (revenue, enterprise and industrial), the framework incoporates the environment and customer-centric dimension. The suggested framework opens new streams of research both for the innovation business model literature as well as for the EMs – bottom of the pyramid (BOP) literature. Practical implications – To achieve economic and social goals, particularly in the BOP, firms need to adopt a bottom-up approach to understand the components of their business model that need to be modified. Originality/value – The paper proposes a novel business model innovation conceptualization which is useful for both researches to better study business models in the BOP and for firms to successfully operate in the BOP.

scholarly journals Internet of services-based business model: a case study in the livestock industry

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jacqueline Zonichenn Reis ◽  
Rodrigo Franco Goncalves ◽  
Epaminondas de Souza Lage ◽  
Irenilza de Alencar Nääs
Keyword(s):  
Business Model ◽  
Design Methodology ◽  
Business Models ◽  
Scientific Literature ◽  
Single Case ◽  
Model Framework ◽  
Content Type ◽  
Internet Of Services ◽  
Present Case Study

Purpose Considering the relevance of innovative business models in the digitally transformed market and the lack of clarity on the internet of services (IoS) contribution for a business model deployment in current literature, this study aims to fill this gap by evaluating a business model that converges to an IoS adoption in a direct sale of free-range eggs from farmers to consumers. Design/methodology/approach From the bibliographical research regarding the IoS and business model, the authors developed an IoS-based model framework. The framework has been evaluated in a real business scenario by using a single case study through an interview with the entrepreneur and documental analysis. Findings As the main result, a framework with the attributes can be considered a tool for an IoS-based business model deployment. The case study concluded that the business is aligned with the IoS adoption, and the framework presents adherence to it. Research limitations/implications The case study was limited to only one company owing to the IoS’s novelty and the lack of correlated business models. Although the case study limits to the agriculture field, the proposed framework may be broadly applied. Originality/value Considering that the lack of a comprehensive business model causes new businesses to face challenges, it is relevant bringing up the present case study of the IoS-based business model, which correlates these two subjects, still poorly explored in the scientific literature: IoS and business models.

Developing an innovative business model for hospital services in Iran: a case study of Moheb Hospitals

2019 ◽  
Vol 32 (1) ◽  
pp. 129-147 ◽  
Author(s):  
Marjan Miremadi ◽  
Kamyar Goudarzi
Keyword(s):  
Health Care ◽  
Business Model ◽  
Health Care Services ◽  
Business Models ◽  
Single Case ◽  
Quality Health Care ◽  
Content Type ◽  
Study Results ◽  
Quality Health

PurposeThis paper aims to focus on the role of hospital business models by examining the innovative business model of Moheb Hospitals, which have successfully achieved the goal of reducing costs and delivering high-quality health-care services in Iran by encouraging public–private partnership.Design/methodology/approachThis paper is a single case study.FindingsThe study results illustrate the hospital’s current business model and its underlying elements. After presenting the findings, this paper is concluded by presenting the standing issues that should also be addressed and how improvements and adjustments can be made.Originality/valueThis study offers new insight to identify and analyze the shortcomings of health-care sector in Iran and introduces new methods to efficiently use current competencies.

A business model approach to supply chain management

2015 ◽  
Vol 20 (6) ◽  
pp. 587-602 ◽  
Author(s):  
Peter Trkman ◽  
Marko Budler ◽  
Aleš Groznik
Keyword(s):  
Business Model ◽  
Dynamic Capabilities ◽  
Business Models ◽  
Single Case ◽  
Secondary Data ◽  
Capabilities Approach ◽  
Model Management ◽  
Content Type ◽  
Strategic Issues

Purpose – This paper aims to extend the topics from a 2007 paper to stimulate debate on strategic issues vital for the long-term success of supply chains (SCs). The authors upgraded from SC process modelling towards SC business model management; from information to knowledge transfer and from the maturity of SC to dynamic capabilities. The paper attempts to identify and connect the elements of SC business model and the key issues for development of dynamic capabilities to enable future redesign of business models. Design/methodology/approach – The paper develops two frameworks showing the elements of an SC business model and the interconnection of those elements and dynamic capabilities. The use of these frameworks is demonstrated in a case study of Post of Slovenia. The case uses both primary and secondary data gathered from interviews, publicly accessible articles and internal reports. Findings – An SC should develop the elements of its business model in such a way that it will be able to continually change its existing or add a new business model from the AS-IS state to a currently unpredictable “TO-BE” state as a response to currently unknown changes in its business model. Research limitations/implications – The selection of the elements in the frameworks is partly arbitrary. A single case study was conducted. Practical implications – SCs should not simply focus on improving the maturity/efficiency of current processes but can use the findings to carefully design their current business model and develop dynamic capabilities for future changes. Originality/value – This paper summarises and extends the recent literature through the dynamic capabilities approach and business model management and proposes two frameworks and identifies topics relevant for future development of the SCM field.

scholarly journals Opening up to startup collaborations: open business models and value co-creation in SMEs

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Antonio Ghezzi ◽  
Angelo Cavallo ◽  
Silvia Sanasi ◽  
Andrea Rangone
Keyword(s):  
Business Model ◽  
Business Models ◽  
Small And Medium Enterprises ◽  
Single Case ◽  
Innovation Process ◽  
Unique Contribution ◽  
Content Type ◽  
Focal Firm ◽  
Medium Enterprises ◽  
Open Business Models

Purpose This study aims at exploring how small and medium enterprises (SMEs) can implement a more open and co-creational business model by actively collaborating with startups. Design/methodology/approach Because of the novelty of the SME–startup collaboration phenomenon and to the depth of the investigation required to grasp the mechanisms and logic of an open and co-creational business model, a single-case study has been performed related to investigating a collaboration between an SME and a startup. Findings The authors provide detailed empirical evidence on how SMEs may structure a “systematic” approach to design and execute an open business model enabled by startup collaboration. Moreover, this study suggests that the business model innovation process represents a necessary forerunner of an open business model. Finally, the authors contend that research on open business models should entail a broader perspective beyond the innovation process, to include business model validation through testing approaches like the lean startup. Originality/value This study takes as the locus of investigation the original perspective of the external partner of a focal firm willing to innovate. This study offers a unique contribution because, to date, few studies adopted such view within a relevant and under-remarked empirical setting linking SMEs and innovative startups.

Lessons learned from a successful industrial product service system business model: emphasis on financial aspects

2018 ◽  
Vol 33 (3) ◽  
pp. 365-376 ◽  
Author(s):  
Maicon Gouvêa de Oliveira ◽  
Glauco Henrique de Sousa Mendes ◽  
Andrei Aparecido de Albuquerque ◽  
Henrique Rozenfeld
Keyword(s):  
Business Model ◽  
Business Models ◽  
Service System ◽  
Single Case ◽  
Lessons Learned ◽  
Theory And Practice ◽  
Product Service System ◽  
Content Type ◽  
Structure Information ◽  
Product Service

Purpose The purpose of this study is to identify the elements of the product-service system (PSS) business model of a Brazilian company that has been running it for almost 50 years. It describes the PSS business model and gives special attention to the financial aspects of PSS implementation and to contingent factors of this emerging country. Design/methodology/approach The research is based on a single case study. Data have been collected through interviews and document analysis. Results and implications are obtained using Canvas framework to structure information and comparison between theory and practice. Findings Results described in this paper show that the PSS design and implementation can be strongly influenced by financial and contingent factors. This case indicates that the implementation of PSS business models can follow diverse paths and configurations to fit with companies’ organizational features, local regulations and economic factors, including mixed transactional models and less demanding financial assessments. Originality/value This paper provides a roadmap of lessons learned from a multinational manufacturer that has been following the PSS business model for almost 50 years. This paper offers key insights concerning financial aspects and contingency factors that might influence servitization adoption.

scholarly journals Business model transformation toward sustainability: the impact of legitimation

2020 ◽  
Vol 58 (8) ◽  
pp. 1643-1662
Author(s):  
Roberto Biloslavo ◽  
Carlo Bagnoli ◽  
Maurizio Massaro ◽  
Antonietta Cosentino
Keyword(s):  
Business Model ◽  
Business Models ◽  
Single Case ◽  
Business Model Innovation ◽  
Innovation Theory ◽  
Sustainable Business ◽  
Case Study Methodology ◽  
Content Type ◽  
Sustainable Business Models ◽  
The Impact

PurposeThis study aims to identify the legitimacy issues raised during a sustainable business model innovation, deployed by an Italian company, which was analyzed through the lens of the legitimation theory and the business model innovation theory.Design/methodology/approachA single case study methodology is employed for empirical research. Semistructured interviews, with top and middle management, were conducted together with the analysis of several internal and external documents, to corroborate the case analysis.FindingsResults show how the potentiality of digital technologies allows the development of new sustainable business models, which, though, still need to gain legitimation to be accepted. The study findings allow drawing both on the business model innovation theory and on the legitimation theory, as they show how legitimation is a dynamic concept that involves internal as well as external stakeholders to support business model innovation.Originality/valueThe paper is novel, since it addresses the topic of sustainable business models development, showing how companies can get legitimation. The paper builds on existing theories and provides a practical example.

scholarly journals Managerial practices for designing circular economy business models

2019 ◽  
Vol 30 (3) ◽  
pp. 561-589 ◽  
Author(s):  
Enes Ünal ◽  
Andrea Urbinati ◽  
Davide Chiaroni
Keyword(s):  
Business Model ◽  
Circular Economy ◽  
Customer Value ◽  
Business Models ◽  
Single Case ◽  
Case Study Methodology ◽  
Content Type ◽  
Managerial Practices ◽  
Value Network ◽  
Study Methodology

Purpose The purpose of this paper is to investigate the managerial practices that companies can implement in order to design a circular economy business model and how companies can create and capture value from a circular economy business model. Design/methodology/approach The paper adopts a single case study methodology with semi-structured interviews and company, supplier, and manufacturing site visits, conducted in a small-to-medium-size Italian company operating in the office supply industry. Findings The theoretical setting maps a set of managerial practices for a circular economy business model and sets the research gaps and questions in a research framework designed along three main dimensions: value network, customer value proposition and interface, and managerial commitment. Then, through an empirical analysis, the findings reveal that the proposed dimensions are interdependent and reinforce each other. Moreover, the managerial commitment as moderating factor between the value network and the customer value proposition and interface dimensions is identified as essential for reaching the intended goals of circular economy business models. Research limitations/implications This study maximizes the depth of the phenomenon under investigation by leveraging a single case study methodology, which ideally helps in a theory-testing approach as in the present case. Future research opportunities could be found in qualitative and quantitative studies to increase the generalizability of the findings of this paper. Practical implications The paper presents a set of relevant managerial practices for circular economy business models that can be used by managers who have the will to embrace in practice circular economy principles to support the design, change, or upgrade of the business model of companies within which they operate. Originality/value An interdisciplinary approach that integrates the research streams of circular economy, social psychology, organizational behavior, and business model design has been pursued to test the theoretical setting and the research framework for circular economy business models in a real-world context.

Sustainable life cycle offers through cooperation

2015 ◽  
Vol 4 (1) ◽  
pp. 4-24 ◽  
Author(s):  
Julia Selberherr
Keyword(s):  
Sustainable Development ◽  
Life Cycle ◽  
Business Model ◽  
Value Creation ◽  
Business Models ◽  
Service Providers ◽  
Construction Sector ◽  
Content Type ◽  
New Business ◽  
Societal Level

Purpose – Sustainable buildings bear enormous potential benefits for clients, service providers, and our society. To release this potential a change in business models is required. The purpose of this paper is to develop a new business model with the objective of proactively contributing to sustainable development on the societal level and thereby improving the economic position of the service providers in the construction sector. Design/methodology/approach – The modeling process comprises two steps, the formal structuring and the contextual configuration. In the formal structuring systems theory is used and two levels are analytically separated. The outside view concerns the business model’s interaction with the environment and its impact on sustainability. The inside view focusses on efficient value creation for securing sustainability. The logically deductively developed business model is subsequently theory-led substantiated with Giddens’ structuration theory. Findings – The relevant mechanisms for the development of a new service offer, which creates a perceivable surplus value to the client and contributes to sustainable development on the societal level, are identified. The requirements for an efficient value creation process with the objective of optimizing the service providers’ competitive position are outlined. Research limitations/implications – The model is developed logically deductively based on literature and embedded in a theoretical framework. It has not yet been empirically tested. Practical implications – Guidelines for the practical implementation of more sustainable business models for the provision of life cycle service offers are developed. Social implications – The construction industry’s impact requires it to contribute proactively to a more sustainable development of the society. Originality/value – This paper analyzes the role for the players in the construction sector in proactively contributing to sustainable development on the societal level. One feasible strategy is proposed with a new business model, which aims at cooperatively optimizing buildings and infrastructures and taking the responsibility for the operating phase via guarantees.

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