scholarly journals With a little help from the miners: distributed ledger technology and market disintermediation

2018 ◽  
Vol 118 (3) ◽  
pp. 637-652 ◽  
Author(s):  
Efpraxia D. Zamani ◽  
George M. Giaglis
Keyword(s):  
Business Models ◽  
Disruptive Innovation ◽  
Sustainable Business ◽  
Technology Infrastructure ◽  
Content Type ◽  
Economic Agents ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
New Business ◽  
Early Decision

Purpose The purpose of this paper is to argue for the role of the blockchain, i.e., distributed ledger technology, in building innovative business models, including machine money, autonomous economic agents and decentralised organisations. Design/methodology/approach The paper is conceptual/argumentative. As such, it draws on research on (e-)commerce, theories of markets, disruptive innovation and extant studies and conceptual work at the intersection of cryptocurrencies, machine-to-machine commerce and the Internet of Things. Findings The authors highlight three application areas for blockchains, whereby they can function as applications, can help develop autonomous economic agents and can lead the development of decentralised autonomous organisations. With regards to the question of market disintermediation, the authors suggest that, rather than complete disintermediation, the most probable scenario is that of new types of intermediaries finding previously unthinkable roles to play in mediating blockchain-based economic transactions. With regards to the inhibitors that slow down the technology’s adoption and, therefore, the development of new business applications, the authors posit that these relate mainly to the inherent risk of the technology, infrastructure requirements, scepticism of early decision makers and the lack of required new skills and competencies. Originality/value The authors examine how new forms of digital money and technologies embedding trust in decentralised networks will alter markets and commerce, at a time when many regulatory issues remain unresolved; in doing so, the authors focus on how blockchain-enabled technologies can be used to enable and further develop decentralised trusted peer-to-peer transaction ledger systems and applications and lead to sustainable business models.

scholarly journals Backcasting for desirable futures in Finnish forest-based firms

foresight ◽  
2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Annukka Näyhä
Keyword(s):  
Business Models ◽  
The Novel ◽  
Sustainable Business ◽  
Strong Basis ◽  
Content Type ◽  
Theoretical Contribution ◽  
New Business ◽  
Participative Approach ◽  
Sustainable Business Models ◽  
New Business Models

Purpose In Finland, new forest-based sector (FBS) businesses are seen as important for the transition to the circular bioeconomy. The purpose of this study is to explore the transition of Finnish FBS companies to new business models. The aim is to understand how FBS companies define their ideal future states and related business models for the year 2030. Design/methodology/approach This study uses thematic interviews with managers from various FBS firms and companies from interfacing sectors. In the interviews, the key idea of backcasting was pursued when respondents discussed the desirable future states of their business. Findings The effort to achieve growth of the business and the appearance of new products characterize the company-specific desirable future states. In these desirable futures, expanded businesses will be based on strong knowledge. Resource efficiency and collaboration create a strong basis for the desirable future state of the whole FBS to create a sustainable and innovative “Wood Valley.” Research limitations/implications The key limitations are that the backcasting process has been conducted only through interviews and a participative approach with stakeholder dialogue is lacking in the process. This means that the desirable futures are created by the FBS companies only. Originality/value As a practical contribution, the study shows the future-oriented thinking and goals of FBS firms. As a theoretical contribution, it extends research on sustainable business models and discussions on the novel field of corporate foresight.

scholarly journals Clarifying the disruptive innovation puzzle: a critical review

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sucet Jimena Martínez-Vergara ◽  
Jaume Valls-Pasola
Keyword(s):  
Critical Review ◽  
Business Models ◽  
Disruptive Innovation ◽  
Complex Nature ◽  
Content Type ◽  
Disruptive Innovation Theory ◽  
Depth Analysis ◽  
New Business ◽  
Key Issues ◽  
New Business Models

PurposeDisruptive innovation theory has attracted the interest of researchers and practitioners across many areas, resulting in the development of new business models and strategies. Despite the increasing scholarly attention, its definition has not yet been understood, the understanding of the term “disruptive” and the complex nature of this innovation has provoked some misinterpretations, and the meaning remains ambiguous. To address this confusion, this article undertakes a critical review of disruptive innovation in an attempt at providing a solid theoretical grounding.Design/methodology/approachThe review examines the key issues of published articles, identified after conducting a search in the Web of Science scholarly database. The analysis highlights the basic definitions of disruptive innovation, showing its evolution, types and its characteristics. This article also examines the behaviours adopted by the actors associated with disruptive innovation (i.e. incumbents, entrants and customers).FindingsOverall, this article finds that disruptive innovation has its own elements to be identified, requiring an in-depth analysis to avoid confusing with other innovation approaches. The findings suggest that disruptive innovation affects businesses and sectors in varied and complex ways because customers from low-end market and mainstream market appreciate this innovation. Further, its impact on practice is huge and incites further efforts in establishing a stronger theoretical grounding.Originality/valueOur research contributes on the evolution of this theory, helping to better understand the phenomenon of disruption and can be used for different types of research settings.

Harnessing platform-based business models to power disruptive innovation

2016 ◽  
Vol 44 (5) ◽  
pp. 6-14 ◽  
Author(s):  
Haydn Shaughnessy
Keyword(s):  
Business Model ◽  
Customer Value ◽  
Business Models ◽  
Business Environment ◽  
Disruptive Innovation ◽  
Senior Managers ◽  
Content Type ◽  
Continuous Innovation ◽  
New Business ◽  
Unique Customer

Purpose Adopting and implementing a platform-based business model is fraught with problems and complications, many of which are poorly understood even by industry insiders. As they try to sort through the best practices for operating in this new business environment, senior managers need to carefully analyze the strengths of the business model of some of most successful companies before trying to imitate them. . Design/methodology/approach For a team to execute such a strategy quickly and seamlessly it must first thoroughly understand the components of such a business model and how they interact to produce unique customer value and formidable competitive advantage Findings The platform is a new way to organize wealth-creating activity. Practical implications The author details the components of a successful platform-based business model. Originality/value Platform-based business models seek to leverage the assets of third parties and in the process extend the value of economic activity to customers in ways that engage and benefit them. Senior leaders and operations managers alike need to understand that continuous innovation of customer value and policies that attract asset-rich partners and skillful developers is essential to the growth of the network.

scholarly journals Business model innovation and value-creation: the triadic way

2018 ◽  
Vol 29 (5) ◽  
pp. 883-906 ◽  
Author(s):  
Tor Wallin Andreassen ◽  
Line Lervik-Olsen ◽  
Hannah Snyder ◽  
Allard C.R. Van Riel ◽  
Jillian C. Sweeney ◽  
...  
Keyword(s):  
Business Model ◽  
Design Methodology ◽  
Business Models ◽  
Research Question ◽  
Conceptual Modeling ◽  
Sustainable Business ◽  
Content Type ◽  
New Business ◽  
The Relationship ◽  
Is Value

Purpose Building on the multi-divisional business model (M-model), the purpose of this paper is to develop a better understanding of triadic business models – T-models – and how they create value for their three categories of stakeholders, i.e., the suppliers, the platform firm and the buyers. The research question that guides the present study is twofold: How is value created individually and collectively in triadic business models and what might challenge their sustainability? Design/methodology/approach Anchored in extant literature and a process of conceptual modeling with empirical examples from Uber, a new business model archetype was developed for two-sided markets mediated by a middleman. Findings The paper provides a theoretically and conceptually derived roadmap for sustainable business in a triadic business model, i.e., for the buyers, sellers and the platform firm. This model is coined the T-model. A number of propositions are derived that argue the relationship between key constructs. Finally, the future beyond the T-model is explored. Research limitations/implications The paper identifies, illustrates and discusses the ways in which value is created in sustainable T-models. First, value is created from a number of sources, not only from lower transaction costs. Second, it is proposed that it is not about a choice of either M-model or T-model but rather a continuum. Toward 2050, technology in general and Blockchain specifically may for some transactions or services, eliminate the need for middlemen. The main conclusion is that despite this development, there will, for most organizations, be elements of the M-model in all or most T-model businesses. In short: middlemen will have elements of the M-model embedded in the T-model when co creating value with buyers and sellers. Originality/value While two-sided T-models are not new to the business area, surprisingly no papers have systematically investigated, illustrated, and discussed how value is created among and between the three stakeholder categories of the T-model. With this insight, more sustainable T-models can be created.

Sustainable business models: a literature review

2019 ◽  
Vol 27 (7) ◽  
pp. 2028-2047 ◽  
Author(s):  
Lidiane Cássia Comin ◽  
Camila Camargo Aguiar ◽  
Simone Sehnem ◽  
M.-Y. Yusliza ◽  
Carla Fabiana Cazella ◽  
...  
Keyword(s):  
Business Models ◽  
Clean Energy ◽  
Sustainable Business ◽  
Content Type ◽  
Sustainable Value ◽  
New Business ◽  
Sustainable Business Models ◽  
Operational Practices ◽  
High Level ◽  
Positive Results

Purpose The demand for resources for development also increased corporate pressures for sustainability. Consequently, it is necessary for organizations to adopt measures addressing the need to implement a new business model, which allows a management team concerned about the economy and the optimization of resources to make sustainable business models a strategic interest of the organization. The purpose of this paper is to analyze sustainable business models and the applied practices to operationalize them. Design/methodology/approach This study was conducted through a systematic review of the literature to identify the sustainable business models addressed in the literature, and what practices are applied to operationalize these models. Findings The data show that sustainable business models have an approach centered on the direct participation of stakeholders, especially the user, in the process of creating sustainable value. Overall, they offer a high level of technology-based business models that prioritize the use of clean energy, material maximization and energy efficiency, with an emphasis on repair and maintenance rather than on disposal and scheduled obsolescence, as well as an emphasis on natural and renewable processes, the reuse of waste, environmental stewardship, product transformation into technological artefacts for users, and products for services and results. Research limitations/implications The study’s contributions provide a more detailed understanding of sustainable business models and what practices can be adopted by companies to make the business truly sustainable. This paper contributed to the discussion of the research on sustainable business models and their operational practices. Originality/value The analysis promotes insights into new opportunities for companies to integrate their traditional business models with sustainability, contributing to the application of sustainable practices within the managerial scope. Companies that operate sustainable business models need to be aware that collaborative, sharing and networking models can deliver positive results for sustainable business models.

scholarly journals Entrepreneurship, Sport, Sustainability and Integration: A Business Model in the Low-Season Tourism Sector

2021 ◽  
Vol 10 (4) ◽  
pp. 117
Author(s):  
Ricardo Reier Forradellas ◽  
Sergio Náñez Alonso ◽  
Javier Jorge Vázquez ◽  
Miguel Ángel Echarte Fernández ◽  
Nicolas Vidal Miró
Keyword(s):  
Business Model ◽  
Business Models ◽  
Generation Model ◽  
Sustainable Business ◽  
Women's Sport ◽  
Participation Of Women ◽  
Tourism Sector ◽  
New Business ◽  
Global Tourism ◽  
Wealth Generation

The global tourism reality is changing, and not only because of the COVID-19 pandemic. This reality is especially representative in countries such as Spain, which are highly dependent on the income generated by the tourism sector. In these destinations, it is necessary to seek innovation and specialization in the sector in order to achieve new business models. This need is even more pressing in destinations overcrowded by the sun and beach effect, as is the case of Mallorca. The proposed work combines the concepts of sports tourism with the development of a wealth-generating business model that will contribute to promoting a tourism that is sustainable, environmentally friendly and deseasonalized. On the other hand, the proposed work will contribute to promoting integration and equality in the participation of women in sports through the development of a model based on the promotion of women’s football. Using the methodology of case analysis, the results of all the approaches outlined are provided, and we obtained a wealth-generation model that is easily replicable and sustainable over time. This work provides a solution to the combination of a sustainable business model that links responsible tourism, the promotion of women’s sport and the generation of wealth.

scholarly journals Eco-Innovation, Sustainability and Business Model Innovation by Open Innovation Dynamics

2021 ◽  
Vol 7 (2) ◽  
pp. 149
Author(s):  
Magdalena Pichlak ◽  
Adam R. Szromek
Keyword(s):  
Open Innovation ◽  
Business Models ◽  
Business Leaders ◽  
Innovation Activity ◽  
Computer Assisted ◽  
Supply Chain Collaboration ◽  
Sustainable Business ◽  
Innovation Activities ◽  
Innovation Dynamics ◽  
New Business

The paper aims to analyze the environmental aspects of innovation activity undertaken by companies and, in particular, to assess sustainable business leaders’ propensity to generate eco-innovation. The research described in the paper was descriptive and, to some extent, diagnostic. It was based on a non-random sample and was conducted—using the Computer Assisted Telephone Interview (CATI) method—in 2019 among 54 of the most eco-innovative Polish companies. The results of the research indicate that they are more likely to generate radical rather than incremental changes. Moreover, the most eco-innovative companies are those developing technologies for biodiversity protection. The results further indicate that companies with more than 50 employees have a higher propensity to develop incremental and radical eco-innovation than smaller firms with relatively fewer resources. Finally, this study shows that adopting an open innovation strategy strengthens the propensity to generate eco-innovation, especially radical ones. Moreover, developing such changes is dominated by the adoption of strategic and operational forward supply chain collaboration, involving the absorption of knowledge and information streaming directly from the market. The results can provide a frame for developing new business models incorporating collaboration in eco-innovation activities, especially in the situation of a post-pandemic recovery of the economy.

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.

Intertwining CSR with strategy – the way ahead

2014 ◽  
Vol 14 (2) ◽  
pp. 211-219 ◽  
Author(s):  
Shital Jhunjhunwala
Keyword(s):  
Business Strategy ◽  
Design Methodology ◽  
Business Models ◽  
Corporate Strategy ◽  
Sustainable Business ◽  
Socially Responsible ◽  
Content Type ◽  
Sustainable Business Models ◽  
Corporate Social

Purpose – The purpose of this paper is to emphasize the importance and means of making corporate social responsibility (CSR) an integral part of corporate strategy with the help of case studies. Design/methodology/approach – The article explores the transformation of business from being egocentric to socially responsible. With the use of examples it demonstrates how integrating CSR into strategy can create sustainable business models. Findings – Firms need to develop a framework for integrating CSR into their business strategy for long term successful survival. Social implications – Corporates and society are intertwined and mutually dependent. Business cannot survive without society's acquiescence nor succeed without its active support. Originality/value – The article explains the benefits of CSR and how to make it an integral part of business strategy to gain a competitive advantage.

The future of the Internet of Things: toward heterarchical ecosystems and service business models

2018 ◽  
Vol 33 (6) ◽  
pp. 749-767 ◽  
Author(s):  
Seppo Leminen ◽  
Mervi Rajahonka ◽  
Mika Westerlund ◽  
Robert Wendelin
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Value Chain ◽  
Large Scale ◽  
Business Models ◽  
The Internet ◽  
Content Type ◽  
Industry Collaboration ◽  
New Business ◽  
The Internet Of Things

Purpose This study aims to understand their emergence and types of business models in the Internet of Things (IoT) ecosystems. Design/methodology/approach The paper builds upon a systematic literature review of IoT ecosystems and business models to construct a conceptual framework on IoT business models, and uses qualitative research methods to analyze seven industry cases. Findings The study identifies four types of IoT business models: value chain efficiency, industry collaboration, horizontal market and platform. Moreover, it discusses three evolutionary paths of new business model emergence: opening up the ecosystem for industry collaboration, replicating the solution in multiple services and return to closed ecosystem as technology matures. Research limitations/implications Identifying business models in rapidly evolving fields such as the IoT based on a small number of case studies may result in biased findings compared to large-scale surveys and globally distributed samples. However, it provides more thorough interpretations. Practical implications The study provides a framework for analyzing the types and emergence of IoT business models, and forwards the concept of “value design” as an ecosystem business model. Originality/value This paper identifies four archetypical IoT business models based on a novel framework that is independent of any specific industry, and argues that IoT business models follow an evolutionary path from closed to open, and reversely to closed ecosystems, and the value created in the networks of organizations and things will be shareable value rather than exchange value.

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