An Approach to Designing IoT-Based Business Models

2017 ◽  
pp. 43-70
Author(s):  
Iva Vojinović ◽  
Dušan Barać ◽  
Ivan Jezdović ◽  
Milica Labus ◽  
Filip Jovanović
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Business Models ◽  
Model Development ◽  
Distribution Channels ◽  
The Internet ◽  
Business Model Canvas ◽  
Key Resources ◽  
The Internet Of Things ◽  
Business Model Development

This chapter will foster the understanding of the structure of business model elements in Internet of things field. Business model provides an efficient way to analyze, understand and manage strategically oriented goals for one or more stakeholders in order to create some value for end-users, but in the Internet of things there is not clear path for its development. An approach that will be used is the generally accepted principle of forming business model, Canvas template, which is a strategic template for understanding the relation between key partners, key activities, customers and clients, key resources, value proposition for customers in the form of products or services, relationships with customers, sales and distribution channels, cost structure, income flow. Presented is an integrated model with main aspects that should be covered when it comes to the Internet of things business model development, combining Canvas template, inside organizational structure and ecosystem restrictions.

An Approach to Designing IoT-Based Business Models

2020 ◽  
pp. 246-267
Author(s):  
Iva Vojinović ◽  
Dušan Barać ◽  
Ivan Jezdović ◽  
Milica Labus ◽  
Filip Jovanović
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Business Models ◽  
Model Development ◽  
Distribution Channels ◽  
The Internet ◽  
Business Model Canvas ◽  
Key Resources ◽  
The Internet Of Things ◽  
Business Model Development

This chapter will foster the understanding of the structure of business model elements in Internet of things field. Business model provides an efficient way to analyze, understand and manage strategically oriented goals for one or more stakeholders in order to create some value for end-users, but in the Internet of things there is not clear path for its development. An approach that will be used is the generally accepted principle of forming business model, Canvas template, which is a strategic template for understanding the relation between key partners, key activities, customers and clients, key resources, value proposition for customers in the form of products or services, relationships with customers, sales and distribution channels, cost structure, income flow. Presented is an integrated model with main aspects that should be covered when it comes to the Internet of things business model development, combining Canvas template, inside organizational structure and ecosystem restrictions.

An Approach to Designing IoT-Based Business Models

2020 ◽  
pp. 148-169
Author(s):  
Iva Vojinović ◽  
Dušan Barać ◽  
Ivan Jezdović ◽  
Milica Labus ◽  
Filip Jovanović
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Business Models ◽  
Model Development ◽  
Distribution Channels ◽  
The Internet ◽  
Business Model Canvas ◽  
Key Resources ◽  
The Internet Of Things ◽  
Business Model Development

This chapter will foster the understanding of the structure of business model elements in Internet of things field. Business model provides an efficient way to analyze, understand and manage strategically oriented goals for one or more stakeholders in order to create some value for end-users, but in the Internet of things there is not clear path for its development. An approach that will be used is the generally accepted principle of forming business model, Canvas template, which is a strategic template for understanding the relation between key partners, key activities, customers and clients, key resources, value proposition for customers in the form of products or services, relationships with customers, sales and distribution channels, cost structure, income flow. Presented is an integrated model with main aspects that should be covered when it comes to the Internet of things business model development, combining Canvas template, inside organizational structure and ecosystem restrictions.

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.

A Business Model Framework for Crowd-Driven IoT Ecosystems

2019 ◽  
pp. 440-461
Author(s):  
Xenia Ziouvelou ◽  
Frank McGroarty
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Business Models ◽  
Wearable Devices ◽  
The Internet ◽  
Model Framework ◽  
Research Attention ◽  
Business Modelling ◽  
Emerging Ecosystems ◽  
The Internet Of Things

This article describes how the era of hyper-connectivity is characterized by distributed, crowd-centric ecosystems that utilise cutting edge technology so as to harness the collective power, co-creation ability and intelligence of the crowd utilising under open participatory value creation models. The Internet of Things (IoT) has fueled the emergence of such ecosystems that leverage not only the power of physical things connected to the Internet but also the wisdom of the crowd to observe, measure, and make sense of phenomena via user-owned mobile and wearable devices. Existing business modelling literature has to date, placed no research attention on business models for such emerging ecosystems. This article aims to fill this gap by examining the dynamics of crowd-driven IoT ecosystems and introducing a business model framework for such environments, encompassing all relevant value-creating actors, activities and processes, facilitating this way a holistic ecosystem business model analysis.

Creating a Research Laboratory on Big Data and Internet of Things for the Study and Development of Digital Transformation

2019 ◽  
pp. 339-358 ◽  
Author(s):  
Vardan Mkrttchian ◽  
Leyla Gamidullaeva ◽  
Svetlana Panasenko ◽  
Arman Sargsyan
Keyword(s):  
Big Data ◽  
Internet Of Things ◽  
Business Model ◽  
Research Laboratory ◽  
Business Models ◽  
Digital Transformation ◽  
The Internet ◽  
Technology Platform ◽  
The Cost ◽  
The Internet Of Things

This chapter discusses the problems associated with the design of the business model in the new context of big data and the internet of things to create a research laboratory for studying and improving digital transformations. The development of business prospects for IOT is due to two main trends: 1) the change of focus from IOT viewing primarily as a technology platform for viewing it as a business ecosystem and 2) the transition from focusing on the business model in general to the development of business models of ecosystems. In the chapter, the business model of the ecosystem is considered as a model consisting of signs fixed in ecosystems and focuses on creating the cost of the laboratory and fixing the value of the ecosystem in which the created laboratory operates.

scholarly journals The Smart City Business Model Canvas—A Smart City Business Modeling Framework and Practical Tool

Energies ◽  
2019 ◽  
Vol 12 (24) ◽  
pp. 4798 ◽  
Author(s):  
Paraskevi Giourka ◽  
Mark Sanders ◽  
Komninos Angelakoglou ◽  
Dionysis Pramangioulis ◽  
Nikos Nikolopoulos ◽  
...  
Keyword(s):  
Business Model ◽  
Value Creation ◽  
Smart City ◽  
Business Models ◽  
Model Development ◽  
Modeling Framework ◽  
Business Model Canvas ◽  
Sustainable Value ◽  
Practical Tool ◽  
Business Model Development

Cities are challenged with increasing population growth and need to implement smart solutions to become more resilient to economic, environmental, and social challenges posed by ongoing urbanization. This study reviewed business model development frameworks and developed a practical tool to help cities assess business models by adapting components of the Business Model Canvas (BMC) and adding new ones that operationalize the smart city dimensions. The Smart City BMC (SC-BMC) proposed provides a practical framework that supports developing and communicating a more holistic and integrated view of a smart city business model. It also supports creatively innovating toward more sustainable value creation. As a framework, the SC-BMC bridges sustainable value creation for business model development and smart city innovation.

A Business Model Framework for Crowd-Driven IoT Ecosystems

Crowdsourcing ◽  
2019 ◽  
pp. 262-284
Author(s):  
Xenia Ziouvelou ◽  
Frank McGroarty
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Business Models ◽  
Wearable Devices ◽  
The Internet ◽  
Model Framework ◽  
Research Attention ◽  
Business Modelling ◽  
Emerging Ecosystems ◽  
The Internet Of Things

This article describes how the era of hyper-connectivity is characterized by distributed, crowd-centric ecosystems that utilise cutting edge technology so as to harness the collective power, co-creation ability and intelligence of the crowd utilising under open participatory value creation models. The Internet of Things (IoT) has fueled the emergence of such ecosystems that leverage not only the power of physical things connected to the Internet but also the wisdom of the crowd to observe, measure, and make sense of phenomena via user-owned mobile and wearable devices. Existing business modelling literature has to date, placed no research attention on business models for such emerging ecosystems. This article aims to fill this gap by examining the dynamics of crowd-driven IoT ecosystems and introducing a business model framework for such environments, encompassing all relevant value-creating actors, activities and processes, facilitating this way a holistic ecosystem business model analysis.

scholarly journals Research on the Connotation and Business Model of Internet of Things under the Background of Globalization

2018 ◽  
Vol 1 (2) ◽  
Author(s):  
Yurong Chen
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Socioeconomic Development ◽  
Business Models ◽  
Industrial Revolution ◽  
The Internet ◽  
Information Technology Industry ◽  
Technology Industry ◽  
New Business ◽  
The Internet Of Things

 With the advent of the fourth industrial revolution, the new generation of information technology industry represented by the Internet of Things has continually nurtured new business models and economic growth points, and created one after another IoT mythology, which greatly promoted the global socioeconomic development and transformation. IoT has increasingly become the new engine of the current global economic development. To this end, this paper starts with the concept and connotation of the Internet of Things, discusses the development and application of the global Internet of Things and the types and characteristics of the Internet of Things business model, and proposes the measures and countermeasures of the business model of the Internet of Things in the context of globalization.

scholarly journals Digital Government: Business Model Development For Public Value Creation - A Dynamic Capabilities Based Framework

2021 ◽  
Vol 45 (3) ◽  
pp. 232-255
Author(s):  
Bernd Wirtz ◽  
Paul Langer ◽  
Florian Schmidt
Keyword(s):  
Public Sector ◽  
Business Model ◽  
Value Creation ◽  
Dynamic Capabilities ◽  
Business Models ◽  
Model Development ◽  
Digital Government ◽  
Public Value ◽  
The Public ◽  
Business Model Development

Rapid advances and the spread of digital technologies have changed the expectations of citizens, firms and organizations towards government services, which increasingly receive the call to transform services and structures according to changed needs and preferences. The concept of business model development provides a suitable approach for public institutions aiming at adjusting their services and operations. Since government institutions increasingly develop new services and products, this study provides a theoretic foundation to operational readiness as well as a guideline how to set up digital business models in a public sector context. Therefore, a framework is derived from conceptual studies in the field as well as related theoretical concepts such as business model theory in the public sector context, dynamic capacities and public value creation. Building on this foundation this study conceptualizes a process of business model development to create user oriented digital services in the public sector.

scholarly journals Designing Business Models for the Internet of Things

2014 ◽  
Vol 4 (7) ◽  
pp. 5-14 ◽  
Author(s):  
Mika Westerlund ◽  
Seppo Leminen ◽  
Mervi Rajahonka
Keyword(s):  
Internet Of Things ◽  
Business Models ◽  
The Internet ◽  
The Internet Of Things
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