A Business Model Framework for Crowd-Driven IoT Ecosystems

2018 ◽  
Vol 9 (3) ◽  
pp. 14-33 ◽  
Author(s):  
Xenia Ziouvelou ◽  
Frank McGroarty
Keyword(s):  
Business Model ◽  
Value Creation ◽  
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.

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.

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.

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.

scholarly journals Business Model for Czech Agribusiness

2015 ◽  
Vol 46 (3) ◽  
pp. 128-136 ◽  
Author(s):  
Jana Poláková ◽  
G. Koláčková ◽  
I. Tichá
Keyword(s):  
Business Model ◽  
Value Creation ◽  
Business Models ◽  
Theoretical Background ◽  
Business Modelling ◽  
New Business ◽  
Definition Of

Abstract Business modelling facilitates the understanding of value creation logic in organizations in general. Identifying the components of business models based on different criteria helps understanding the fundamentals of business and the position of entrepreneurs and managers in companies. The present research is focused on the definition of a specific business model for the Czech agribusiness sector. Based on the theoretical background and evaluation of selected business models, the aim is to create a new business model, using components which take into account the specifics of this particular industry.

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 Social Value Creation in Institutional Voids: A Business Model Perspective

2020 ◽  
pp. 000765032098228
Author(s):  
Addisu A. Lashitew ◽  
Rob van Tulder ◽  
Lukas Muche
Keyword(s):  
Business Model ◽  
Value Creation ◽  
Business Models ◽  
Developing Economies ◽  
Boundary Spanning ◽  
Information And Communications Technology ◽  
Social Value ◽  
Institutional Voids ◽  
Model Framework ◽  
Social Value Creation

The literature on Base of the Pyramid (BoP) strategies emphasizes that creating social value requires collaborative, multi-stakeholder business approaches. However, there is limited understanding of how businesses can successfully coordinate such value creation processes in the developing economies that face significant institutional voids. This study adopts a business model perspective for analyzing social value creation processes that span organizational boundaries. We introduce a novel, theoretically grounded business model framework that helps conceptualize social value by locating the various loci of value creation, and the stakeholders that partake in creating and capturing this value. We subsequently analyze the mechanisms of social value creation in M-Pesa, a renowned boundary-spanning mobile money system that has advanced financial inclusion among tens of millions of users in Kenya. The results show that information and communications technology can help advance social value creation by reducing the cost of coordinating boundary-spanning business models that integrate diverse societal stakeholders. The results further point to uneven distributional outcomes in self-governing social value creation strategies where the focal firm plays a coordinating role.

scholarly journals Business Model Themes and Product Market Strategies as Value Drivers in Omni-Channel Retail: A Set of Propositions

2021 ◽  
Vol 2 (3) ◽  
pp. 1
Author(s):  
Ricardo Costa Climent ◽  
Gültekin Cakir
Keyword(s):  
Business Model ◽  
Value Creation ◽  
Business Models ◽  
Product Market ◽  
Research Gaps ◽  
Value Drivers ◽  
Model Framework ◽  
Market Strategy ◽  
Research Gap ◽  
Market Strategies

We focus on the analysis of current research in Business Models in the context of e-business, resulting in relevant research gaps and a set of propositions. A bibliographic review has been conducted from which a theoretical framework has been developed. Once the gaps in the literature have been pointed out, a series of research proposals are presented. These should be tested based on data collected from real cases through analysis and interpretation. The applied lens of the theory is Amit and Zotts Business Model framework (2001) and Business Model Themes (BMT) “NICE” (novelty, lock-in, complementarity and efficiency) (2001). Analysis evolves around the explanation and feasibility of Business Model Themes for value creation and value capture in digital business models (current general research gap in the e-business domain). The results show that future directions should investigate different combinations of BMTs which represent research gaps (propositions 1 to 3). Other contexts which were not considered so far in this regard (non-digital business), also represent a research gap (proposition 4). Moreover, further synthesis of the literature resulted in a potential consideration of “product market strategies” (Amit and Zott, 2008) as a new theory to apply and test value creation and capturing in digital business (proposition 5 and 6), also from an evolutionary perspective. We ask how this combination affects the performance of firms who want to move on digital transformation with an omnichannel environment. It is essential in this study how these firms can create new value and how they can keep it. We try to explain how these value drivers could be work across time, even under varying environmental regimes. It would mean an advance in the existing academic framework around the reference literature on the business model. To be able to determine which combinations of BMT and Product Market Strategy (PMS) have not yet been tested would be advantageous for the firms. It could offer the appropriate information to the retail company with traditional BM towards digital BM. Moreover, it will be able to work successfully and to maintain constant along the time.

scholarly journals Business Modelling

2021 ◽  
pp. 19-33
Author(s):  
Jan Jonker ◽  
Niels Faber
Keyword(s):  
Business Model ◽  
Value Creation ◽  
Circular Economy ◽  
Business Models ◽  
Building Blocks ◽  
Specific Context ◽  
Business Modelling ◽  
Three Stages ◽  
Do So ◽  
Available Resources

AbstractA transition from a linear economy to a more sustainable and circular economy requires different business models. In this chapter, we provide you with an introduction to the nature and logic of business models. In essence, a business model is a description of how value creation between parties or partners is organized, at a particular moment, in a specific context, and given available resources. Conventional business modelling approaches have several weaknesses—the main point of criticism being their focus on creating financial value. With the Business Model Template (BMT), we try to resolve most of these criticisms. To do so we introduce three archetypal business models: the platform, community, and circular economy business models. This chapter provides an overview on how, over three stages and ten building blocks that together make up the Business Model Template, these archetypal business models will be used.

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.

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