scholarly journals The Value Innovation of Symphony Orchestras and the Triggering Effect of Coronavirus

2020 ◽  
Vol 16 (2) ◽  
pp. 89-95
Author(s):  
Roland Z. Szabó ◽  
Borbála Szedmák
Keyword(s):  
Business Model ◽  
21St Century ◽  
Business Models ◽  
Business Model Innovation ◽  
Value Proposition ◽  
Symphony Orchestras ◽  
Value Innovation ◽  
Difficult Situation ◽  
A Value

The current coronavirus situation both gives an opportunity to the organizations and forces them to change and rethink fundamentally their business models. The pandemic causes an extremely difficult situation for symphony orchestras, as they have to cancel their performances and redefine how to reach their audience. Either they follow a Red Ocean Strategy and lose significant revenue or develop a Blue Ocean Strategy and prosper. The Blue Ocean Strategy involves a value innovation that can be achieved by four actions (eliminate, reduce, raise, create) and taking advantage of the opportunities offered by digitalization. After briefly reviewing the concept of business model innovation, the article gives an overview of some novel aspirations, attempts and projects selected from international and Hungarian symphonic orchestral life to provide excellent examples of how the value proposition can be redefined and how the expectations of the 21st-century audience can be met.

scholarly journals The essential benefits of an enterprise blockchain in business model innovation

2021 ◽  
Vol 24 (2) ◽  
pp. 189-210
Author(s):  
Ambara Purusottama ◽  
Yohanes Berenika Kadarusman
Keyword(s):  
Organizational Performance ◽  
Business Model ◽  
Business Models ◽  
Business Model Innovation ◽  
Abductive Reasoning ◽  
Value Proposition ◽  
Value Capture ◽  
Blockchain Technology ◽  
A Value ◽  
Multiple Case

Blockchain brings changes and disruptions to the existing business models and therefore deserves further analysis. Accordingly, this study aims to explain the phenomenon of blockchain technology in the business model innovation in the enterprise ecosystem. Empirically, numerous studies have shown that blockchain technology improves organizational performance. This study uses a value system framework to explain the enterprise blockchain phenomenon. Through abductive reasoning, this study uses a multiple-case study to answer the research questions. In sum, this study finds that blockchain technology delivers benefits to organizations in: (i) value capture through increased profitability; (ii) value creation through private partnership; (iii) value delivery through smart contracts; and (iv) value proposition that encourages improving the existing value proposition through operational improvements. Besides, the study also proposes the different types of enterprise blockchain ecosystems: private and consortium. The private ecosystem focuses on improving organizational performance through competition. In contrast, the consortium ecosystem focuses on  business value collaboration.

scholarly journals The effect of Relationship Network and Business Model Innovation on Start-up Performance in Vietnam

2021 ◽  
pp. 58-69
Author(s):  
Nguyen Manh Thang
Keyword(s):  
Business Model ◽  
Quantitative Methods ◽  
Business Models ◽  
Positive Impact ◽  
Business Model Innovation ◽  
Value Proposition ◽  
Government Officials ◽  
Business Partners ◽  
Start Up ◽  
Relationship Network

Aims: It aims to build and verify the theoretical model among the network of relationships, business model innovation and start-up performance of start-up companies. Methodology: The study employed qualitative and quantitative methods of research in 550 start-up firms in Vietnam. The qualitative method is utilised to adjust and complement the scale (interviews with experts). Utilising the PLS-SEM analysis method with the SmartPLS support tool, the quantitative method is used to assess reliability, permissibility, model testing, and research hypotheses. Results: Start-up firms' relationship network (with government officials, social contacts, and business partners) has a beneficial effect on their performance. Relations with government officials benefit value creation, value proposition, and value capture innovation. Social relationships have a positive impact on value proposition innovation. Relationships with business partners contribute to the creation of value and the innovation of new products and services. Business model innovation can have a sizable impact on the performance of a start-up. Finally, environmental dynamism has no regulatory effect on the innovation of business models or the performance of start-up firms. Conclusion: This study has filled theoretical gaps by confirming the results of prior studies that had questioned the connection between the network of relationships, business model innovation, and start-up performance. The findings propose management solutions for start-ups' owners and senior managers, policymakers, and official government entities.

scholarly journals Developing Value Proposition for Business Models of National Iranian Oil Companies

2018 ◽  
Vol 12 (1) ◽  
pp. 508-521
Author(s):  
Mohammadreza Khorshidi
Keyword(s):  
Business Model ◽  
Business Models ◽  
Oil Industry ◽  
Oil And Gas Industry ◽  
Structured Interview ◽  
Value Proposition ◽  
Oil Companies ◽  
National Oil Companies ◽  
A Value ◽  
Value Propositions

Abstract The Value proposition is one of the key aspects of a business model and plays a significant role in any business model. Nowadays, firms could be successful and even could be initiated, only when a value proposition of their business model is clarified precisely. There is a necessity for new studies in order to see whether National Oil Companies(NOCs) are promoting the proper business models that make them competitive. This research analyzes the value proposition and its influence on the NOC’s competitiveness and it supports to deliver the required products and services to their specific market segment and customers. The main objective of this research is to develop a value proposition for the business model of National Oil Companies(NOCs). This could enable firms to be more competitive in the oil industry, especially in the oil supply glut circumstance. In order to achieve this objective, the research methodology is based on the semi-structured interview with the main stakeholders in the oil industry which is NOCs. First, value propositions in the history of oil and gas industry are addressed in almost every decade, then five current or previous managers of National Iranian Oil Company are selected for the semi-structured interview to clarify the current market situation and eventually propose the desired value propositions for the business model of NOCs.

scholarly journals Business Model Innovation and the First Steps of Digitalization in the Case of Symphony Orchestras

2021 ◽  
Author(s):  
Borbála Szedmák
Keyword(s):  
Business Model ◽  
21St Century ◽  
Performing Arts ◽  
Business Models ◽  
Symphony Orchestra ◽  
Business Model Innovation ◽  
The World ◽  
Leading Position ◽  
Market Leader ◽  
Cultural Sector

The study highlights the importance of orchestras being able to respond to the changing needs of consumers and adapt to changes in the world. Such a change is, for example, the current coronavirus epidemic, which poses especially great difficulties for organizations of the cultural sector that deal with performing arts, as concerts and performances – providing the basis of their operation – have become impossible. In order to gain “immunity” to the virus, business model innovation and exploiting opportunities offered by digitalization are essential. Furthermore, similar cases can occur at any time for which orchestras have to be prepared. As a result, orchestras (and in a broader sense all kinds of organizations) need to fundamentally rethink their business models. After conducting secondary research and interviews with 10 symphony orchestra managers and 10 symphony orchestra musicians, I have identified some novel aspirations, attempts and projects selected from international and Hungarian symphonic orchestral life to provide excellent examples of how the business model can be redefined and how the expectations of the 21st-century audience can be met. These examples show that there are orchestras which have understood that responding to the changing demands of consumers and utilizing the opportunities given by technology is essential, although it is still a question of how many more “coronavirus waves” are needed to make it clear for all orchestras that fundamental changes are necessary to preserve a market-leading position or become a market leader.

IMITATION PROCESSES AND THEIR APPLICATION FOR BUSINESS MODEL INNOVATION: AN EXPLORATIVE STUDY

2013 ◽  
Vol 17 (01) ◽  
pp. 1340005 ◽  
Author(s):  
ELLEN ENKEL ◽  
FLORIAN MEZGER
Keyword(s):  
Transformative Learning ◽  
Business Model ◽  
Process Model ◽  
Business Models ◽  
Business Model Innovation ◽  
Learning Processes ◽  
Value Proposition ◽  
Explorative Study ◽  
Model Components ◽  
Functional Experience

The purpose of this paper is to investigate the approach of imitation (across industry boundaries) on business models. We analyzed nine case studies of firms that introduced breakthrough business models by transferring and adapting characteristic business model components of other industries. Our results show that companies can facilitate cross-industry innovation on business model level through a process of abstraction, analogy identification and adaptation. Imitation is realized by deconstructing and mapping business model components based on their contribution to abstract, generic elements of the value proposition. We propose a systematic process model for business model innovation analyzing structural similarities between industries on the level of these abstract elements linked to specific other components of the business model. Firms can leverage this process by transformative learning processes, especially provided through a broad industrial and functional experience of members in business model innovation teams.

scholarly journals Proposal of Value for Customer of Spas: Expectations of Spa Patients and Tourist in Polish Spas

2019 ◽  
Vol 11 (13) ◽  
pp. 3598 ◽  
Author(s):  
Adam R. Szromek ◽  
Katarzyna Wybrańczyk
Keyword(s):  
Sustainable Development ◽  
Natural Resources ◽  
Business Model ◽  
Business Models ◽  
Raw Materials ◽  
Spa Therapy ◽  
Value Proposition ◽  
Health Tourism ◽  
A Value ◽  
Value Propositions

Literature on the trends of health tourism development has proven that it is becoming one of the most important tourism activities. With the growing popularity of this form of tourism, the structure of the needs of tourists and spa patients is simultaneously changing. This article presents the results of self-research carried out in Polish spa resorts based on a sample of 753 patients and spa tourists. The purpose of the research carried out was the development of a value proposition for the client of a spa enterprise as an element of a business model. At the same time, this paper points to the need to base spa activity on the values of sustainable development through key spa resources in the form of a therapeutic climate and natural raw materials applied in spa therapy. The key values for patients and spa tourists are the improvement of health with natural therapeutic resources, recreation in a place with a healing climate, achieving the effect of the treatment, the development of cultural activities, the possibility of taking care of a child during treatment, and the introduction of a psychologist and leisure animator. The mentioned features may become the basis for building a business model of spa enterprises to adapt the value propositions of a client in their business models to the needs demonstrated by the beneficiaries of these values. The problem raised in the article requires a simultaneous consideration of the principles of sustainable development in relation to the natural resources used in spa therapy.

A review and research agenda in business model innovation

2019 ◽  
Vol 13 (3) ◽  
pp. 264-287
Author(s):  
Benny Hutahayan ◽  
Wahyono
Keyword(s):  
Business Model ◽  
Research Agenda ◽  
Design Methodology ◽  
Business Models ◽  
Evolutionary Process ◽  
Business Model Innovation ◽  
Fine Tuning ◽  
Single Element ◽  
Value Proposition ◽  
Content Type

Purpose This paper aims to review and synthesise the recent advancements in the business model literature and explore how firms approach business model innovation. Design/methodology/approach A systematic review of business model innovation literature was carried out by analysing 219 papers published between 2010 and 2016. Findings Evidence reviewed suggests that rather than taking either an evolutionary process of continuous revision, adaptation and fine-tuning of the existing business model or a revolutionary process of replacing the existing business model, firms can explore alternative business models through experimentation, open and disruptive innovations. It was also found that changing business models encompasses modifying a single element, altering multiple elements simultaneously, and/or changing the interactions between elements in four areas of innovation: value proposition, operational value, human capital and financial value. Originality/value The conflicting approaches exist in the literature on how firms change their business models, this review synthesises these approaches and provide a clear guidance as to the ways through which business model innovation can be undertaken.

scholarly journals Entrepreneurial lean thinking for sustainable business modeling: a workshop design for incumbent firms

2021 ◽  
Author(s):  
E. J. Schwarz ◽  
P. Gregori ◽  
I. Krajger ◽  
M. A. Wdowiak
Keyword(s):  
Business Model ◽  
Business Models ◽  
Business Model Innovation ◽  
Opportunity Identification ◽  
Sustainable Business ◽  
Lean Thinking ◽  
Business Modeling ◽  
Innovation Research ◽  
Political Debates ◽  
Negative Environmental Impact

AbstractIn times of increasing concerns and extensive political debates about social and environmental problems, incumbent firms are obliged to reduce their negative environmental impact by implementing sustainable business model innovation. Yet, realizing more sustainable business model variants entails several complexities and associated challenges that need to be overcome. To support this task, this article takes an entrepreneurship perspective on sustainable business model innovation and combines literature of business models and entrepreneurial lean thinking (ELT). In doing so, it derives a workshop design grounded in contemporary theory with state-of-the-art tools and methods. The workshop is framed as a stage-gate process facilitating the notions of ELT with iterative cycles of ‘create, test, and improve’ and spans the phases of opportunity identification, opportunity evaluation, opportunity development through sustainable business model design, and decision of opportunity exploitation. The article shows that ELT is an appropriate yet underutilized approach for sustainable business modeling. Further, it discusses how the workshop supports opportunities and mitigate pitfalls of ELT for sustainable business modeling. As such, the findings have theoretical implications for the intersection of sustainability and lean approaches in innovation research as well as implications for practitioners by providing a comprehensive framework to support sustainable business model innovation.

scholarly journals Secondary Business Model Innovation in Emerging Economies

2021 ◽  
pp. 1-30
Author(s):  
Sonia Mehrotra ◽  
S. Ramakrishna Velamuri
Keyword(s):  
Organizational Learning ◽  
Business Model ◽  
Emerging Economies ◽  
Business Models ◽  
Business Model Innovation ◽  
Street Vendors ◽  
China And India ◽  
Successful Business ◽  
Quick Service

ABSTRACT We study two quick-service restaurant (QSR) chains based on regional ethnic foods that were launched in China and India. The products that these QSR ventures offered had hitherto been sold by fragmented street vendors who typically operated single outlets. Inspired by the successful business models of international QSR brands, these entrepreneurs developed business models to popularize their chosen regional ethnic foods in multiple new regions and grew their organizations to 1,400 and 300 outlets in China and India, respectively. We build on the recently coined concept of ‘secondary’ business model innovation (SBMI), which is based on inter-organizational learning, break down its constituents into creative and imitative, specify the mechanisms through which it is achieved, and propose that it is a specific case of the more general construct of creative imitation.

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