scholarly journals Evaluating the New AI and Data Driven Insurance Business Models for Incumbents and Disruptors: Is there Convergence?

2021 ◽  
pp. 199-208
Author(s):  
Alex Zarifis ◽  
Xusen Cheng
Keyword(s):  
Business Model ◽  
Business Models ◽  
New Technologies ◽  
Data Driven ◽  
Revenue Generation ◽  
Primary Activity ◽  
Insurance Business ◽  
New Entrants ◽  
Degree Of Convergence ◽  
High Degree

AI and data technologies are a catalyst for fundamental changes to insurance business models. The current upheaval is seeing some incumbent insurers trying to do the same more effectively, while others evolve to fully utilize the new capabilities and users these new technologies bring. At the same time, technologically advanced organizations from outside the sector are entering and disrupting it. Within this upheaval however, there are signs of a convergence towards an ideal and prevailing business model. This research identifies one exemplar incumbent and one disruptor and evaluates whether their models are converging and will become similar eventually. The findings support a high degree of convergence, but some differences are likely to remain even after this transitionary period. The differences identified are firstly in the evaluation of risk and secondly that traditional insurers prioritize revenue generation from what is their primary activity, while new entrants prioritize expanding their user base.

Business model of garment enterprises: a scientometric review

2021 ◽  
Vol 91 (13-14) ◽  
pp. 1609-1626
Author(s):  
Yuran Jin ◽  
Xiangye Song ◽  
Jinhuan Tang ◽  
Xiaodong Dong ◽  
Huisheng Ji
Keyword(s):  
Conference Proceedings ◽  
Social Science ◽  
Business Model ◽  
Western Europe ◽  
Business Models ◽  
New Technologies ◽  
Citation Index ◽  
The United States ◽  
Fast Fashion ◽  
First Time

The research on the business model of garment enterprises (BMGE) has expanded rapidly in the last decade. However, there is still a lack of comprehensive reviews of it, let alone visual research. Based on scientometrics, in this paper 118 papers and their 4803 references from Science Citation Index Expanded, Social Sciences Citation Index, Conference Proceedings Citation Index—Science, and Conference Proceedings Citation Index—Social Science & Humanities for the period 2010–2020 about the BMGE were analyzed by visualizing the co-cited references, co-occurrence keywords, burst references, dual-map overlays, and more with CiteSpace, Google Maps, and VOSviewer. The research revealed the intellectual landscapes of the BMGE for the first time and mapped the landmark papers, hotspots and trends, national or regional distributions and their cooperation networks, highly cited authors, and prestigious journals and disciplines related to the BMGE. The results show that the biggest hotspot is the fast fashion business model; social responsibility, smart fashion, Internet of Things, and sharing fashion are the main emerging hotspots; and the research focuses has evolved from traditional business models to business models driven by new technologies, then to new issues such as circular economy models. The institutions are mainly distributed in China, the United States, and Western Europe, and there is cooperation between more than 11 countries. The most popular disciplines are economics and politics, while psychology, education, and social science are the essential basic disciplines. The Journal of Cleaner Production and Journal of Fashion Marketing and Management, among others, actively promoted the research.

scholarly journals THE WORLD DEVELOPMENT OF THE DIGITAL ECONOMY: THE MAIN DEVELOPMENT STRATAGEMS

2021 ◽  
Vol 2 (1) ◽  
pp. 91-96
Author(s):  
Olena Taranukha
Keyword(s):  
Business Model ◽  
Business Models ◽  
New Technologies ◽  
Technology Development ◽  
Well Being ◽  
Digital Economy ◽  
The Other ◽  
Innovative Solutions ◽  
The World ◽  
New Business

The digital economy allows to compose the new business models, digital platforms and services, which create new types of economic activity, as well as the transformation of traditional industries. Due to the industries transformation to the digital economy there is the transformation of the world economy, or rather the economy itself is being digitized The purpose of the paper is to reveal the essence and features of the digital economy formation and to consider what significant transformations will take place in the world by the analysis of major trends in the near future. Accumulating all the concepts, we can say that the digital economy is the rather complex term, but we can assume that its development is based on the key components According to forecast estimates, the most advanced retail companies will begin implementing the service of virtual and voice search of goods by 2022. This will require from the company the better understanding of the consumers wishes, their interests and intentions. Consider the main technological development trends for 2020-2025 based on the data of the major consulting agencies and the consulting company "Cartner" Figure 2 shows the forecast curve of the new technologies development. Innovative development triggers that will actively influence the technology development include the following: the Authenticated Provenance, Low-Cost Single Board Computers at the Edge, Self-Supervised Learning, BMI (Brain Machine Interface), active development of "Packaged Business Capabilities" services, Digital Twin of the Person and Composible Enterprises. The peak of disappointments will be Social Distancing Technologies and Secure Access Service. The source of expectations will be the development of Carbon-Based transistors technology and Human digital Ontologies. The formation of a productivity platform will be based on trends in Self-Development and Self-Education. Digital IT trends grow, evolve and acquire new properties of social technologies that can influence the structure of the community, form dependencies and demand. Therefore, companies, large corporations and government need to move to more flexible composite business architectures. The modular business model is based on four basic principles: modularity, efficiency, continuous improvement and adaptive innovation. This business model allows to move from rigid traditional planning to a flexible response to rapidly changing business needs. In general, it creates opportunities for innovative approaches, reduces costs and improves partnerships. It is important to pay attention to the other technologies in the new business model such as bundled business services, data factories, private 5G networks and embedded artificial intelligence. Thus, as a result of the research it is proved that the digital world is a completely new order of life, which requires to change our thinking. The person should be always focused on the new technologies and methods in order the enterprises remain competitive and constantly developed, it will promote the economy development and the growth of well-being of the society. So, taking into account the global trends in technology development, Ukraine has to adapt to the new standards quickly and implement innovative solutions for the economic development. The digitalization of the economy, on the one hand, is the key to economic success, on the other hand, it is the driving force in the conditions of the conceptual understanding of the digital economy essence. The growth of the quality and innovation level of domestic goods and services should provide not only sustainable economic growth, but also competitive advantages with further integration into the EU. At the same time, there is the relevant need of the scientific and technological research, the formation of a certain business ("digital") culture, the implementation of smart city ideas in Ukraine based on the development of local communities and the emergence of new initiatives and proposals for innovative solutions.

Sustainable Competitive Advantage Through Business Model Innovation

2020 ◽  
pp. 191-213
Author(s):  
Purna Prabhakar Nandamuri ◽  
K. S. Venu Gopala Rao ◽  
Mukesh Kumar Mishra
Keyword(s):  
Business Model ◽  
Business Models ◽  
New Technologies ◽  
Business Environment ◽  
Business Model Innovation ◽  
Sustainable Competitive Advantage ◽  
Term Survival ◽  
New Business ◽  
Indian Perspective

Conventionally, businesses focus on their offerings for growth. But the increasingly unpredictable business environment is making them irrelevant in the market. So, businesses should resort to a system of dynamic management by innovating on the business models rather than a single aspect of the business. Business model innovation demands neither new technologies nor creation of new markets, but cares about delivering the existing products produced by existing technologies to the existing markets, through a unique model. Hence, defining, innovating, and evolving new business models have become the new basis of competition. A differentiated, hard-to-imitate, effective, and efficient business model is more likely to ensure higher profits and long-term survival. In this context, the present chapter attempts to furnish multiple global evidences and discuss the Indian perspective of business model innovation.

Digital Economy, Business Models, and Cloud Computing

2019 ◽  
pp. 19-44 ◽  
Author(s):  
Abbas Strømmen-Bakhtiar
Keyword(s):  
Cloud Computing ◽  
Business Model ◽  
Business Models ◽  
New Technologies ◽  
Sharing Economy ◽  
Rapid Expansion ◽  
Human History ◽  
Recent Past ◽  
Digital Revolution ◽  
Technological Revolution

From the invention of writing to the steam engine and to computers, human history has been one of technological inventions and change. In our relatively recent past we have witnessed several technological revolutions which rapidly replaced one set of technologies by another, and in the process created what Schumpeter called the creative destruction. Today, we are witnessing a technological revolution that is changing the way we live, work, and communicate. We call this the digital revolution which brings with it new technologies, methods, and business models. This chapter discusses the digital revolution and the platform business model. This business model is used by many “sharing economy” businesses such as Airbnb and Uber. The success of this business model is dependent on the rapid expansion of its user-base. This business model requires infrastructure and applications that can cope with this rapid expansion. Cloud computing has been providing these services.

Business Model Change Methodology: Applying New Technology in Organization

2013 ◽  
Vol 4 (4) ◽  
pp. 36-60
Author(s):  
Nastaran Hajiheydari ◽  
Payam Hanafizadeh
Keyword(s):  
System Dynamics ◽  
Focus Groups ◽  
Information And Communication Technology ◽  
Business Model ◽  
Communication Technology ◽  
Business Models ◽  
New Technologies ◽  
New Technology ◽  
Information And Communication ◽  
Modern Information

The present study intends to design a methodology for examining the influence of modern information and communication technology on business models (BMs). Theoretical framework is mainly selected based on literature as well as consultation with expert focus groups. This methodology is validated by expert judgment and simulated as a real case applying system dynamics. The outcome of the survey includes a change methodology formulated in 5 phases and 37 activities. Not only has this study covered the specification of the theory structure; it was carried out in an organization in order to test its feasibility, as well. The proposed methodology in this research could help business analysts and managers with changing business model while adopting new technologies.

scholarly journals UCTM—An Ambidextrous Service Innovation Framework—A Bottom-Up Approach to Combine Human- and Technology-Centered Service Design

Systems ◽  
2019 ◽  
Vol 7 (2) ◽  
pp. 23 ◽  
Author(s):  
Wolfgang Vorraber ◽  
Dietmar Neubacher ◽  
Birgit Moesl ◽  
Julia Brugger ◽  
Sigmar Stadlmeier ◽  
...  
Keyword(s):  
Business Model ◽  
Dynamic Capabilities ◽  
Business Models ◽  
New Technologies ◽  
Service Innovation ◽  
Service Design ◽  
Smart Devices ◽  
Success Factor ◽  
Use Case ◽  
Bottom Up

Digital innovation is a key success factor for business enterprises and organizations concerned with public safety. Increasingly shorter technology cycles produce a stream of highly promising gadgets and smart devices and this innovative provision opens a gap between what is currently in use for the value-creation processes of an organization and what could potentially be used. The presented framework provides guidance on how to implement dynamic capabilities needed for business model and service innovation within a complex socio-technical system. A way to combine technology and use-case sensing with the ultimate aim of creating innovative artifacts for organizations is presented. While Business Model Innovation (BMI) literature mainly focuses on a strategic top-down process, we propose a bottom-up process-driven approach to complement business frameworks. Based on these insights, new service artifacts can be designed and analyzed in a systemic way. The applied research methodology is based on the design science research concept. A qualitative approach with focus groups was used to gather user requirements and facilitate participatory and user-centered design of information systems. In this paper, we provide a framework that supports business executives as well as IT experts on how to cope with and integrate new technologies into organizations, their processes, and their business models. In addition to a comprehensive theoretical overview of the proposed framework, we also provide practical results, since this framework was applied in the course of a service design and engineering research project. A use case of alpine rescue missions serves as an example to demonstrate the practical application of the proposed framework.

scholarly journals Business model for Smart Hospital health organization

2018 ◽  
Vol 44 ◽  
pp. 00041
Author(s):  
Igor Ilin ◽  
Oksana Iliyaschenko ◽  
Alexandra Konradi
Keyword(s):  
Health Care ◽  
Development Strategy ◽  
Business Model ◽  
Business Models ◽  
New Technologies ◽  
Large Data ◽  
Health Organizations ◽  
Smart Hospital ◽  
Health Organization ◽  
Cloud Technologies

Modern trends in the society development such as population growth, increase of longevity, development of medical technologies and trend of business digitalization require adaptation of the services offered by health organizations to the new conditions. The health organizations management shall form a development strategy, and therefore, form and continuously improve the business model taking into account the dynamically changing environment, new technologies, legislation, etc. for successful positioning in the market, saving and developing the value of the services offered in the health care sector. The article provides a reference business model of a health organization based on the Smart Hospital concept. While implementing this concept, the health organization relies on a new computing infrastructure based on mobile and cloud technologies, large data and analytics, Internet of things (IoT), new achievements in machine learning. These revolutionary technologies enable the health organization to drastically change the business models and create new products and services in the health care.

scholarly journals PERSONNEL TRAINING AS AN EFFECTIVE TOOL OF ORGANIZATIONAL DEVELOPMENT

2021 ◽  
Author(s):  
Оlena Linkova
Keyword(s):  
Strategic Management ◽  
Organizational Development ◽  
Business Model ◽  
Business Models ◽  
New Technologies ◽  
Innovation Management ◽  
Learning System ◽  
Market Demand ◽  
Operational Activities ◽  
Market Changes

The article examines the importance of organizational development to ensure competitiveness: increasing the ability of the organization to adapt to changing environmental conditions; updating the management system, organizational structure and culture; setting current goals, introduction of new technologies and methods of work in operational activities and management; creation of new structural units of the organization. Adaptation of domestic business to the rapid pace of market changes requires effective systematic implementation of a set of actions on strategic management based on business models, innovation management and marketing communications. Emphasis is placed on the main goal of development – to accelerate the process of adaptation to market changes. A balanced model of organizational development based on the education system is proposed, which includes: research of market demand and consumer values; consolidation of the business model in strategic management; audit of human resources; formation of a system of training according to the project of skills; introduction of a structural component of change management based on strategic leadership. The basis of organizational development is: ranking of staff values; introduction of systematic training; formation of a microclimate of mutual assistance in teams; timely informing staff about changes in market factors that will affect the implementation of organizational change; increased material support at the level of strategic management of individual work of operational level managers. The risks of using a balanced learning system within the selected business model are: increasing the ambitions of staff with the development of skills and changing life priorities; the difficulty of directly assessing the effectiveness of learning outcomes; preparation of educational personality-oriented programs. Measures to minimize the risks of implementing a balanced learning system are: teamwork; formation of a structural subdivision of coaches; concluding long-term agreements for certain training programs; motivation systems.

scholarly journals Business model innovation and digitalization: Could ambidexterity be the solution to manage both? – A conceptual framework with propositions

2020 ◽  
Vol 1 (2) ◽  
pp. 8-25 ◽  
Author(s):  
Patrick Ulrich ◽  
Alexandra Fibitz
Keyword(s):  
Business Model ◽  
Value Creation ◽  
Business Models ◽  
Resource Scarcity ◽  
Business Model Innovation ◽  
Technology And Innovation ◽  
Current Economic Situation ◽  
Digital Disruption ◽  
High Degree ◽  
The Relationship

The current economic situation is in constant flux. Progress in technology and especially the advancement of digital transformation have influenced business endeavors. In this realm, digitalization is closely linked to a high degree of digital disruption and the development of new products, services, and business models. In this paper, we aim to investigate how enterprises simultaneously handle digitalization and business model innovation. We employ an ambidexterity perspective to gain new knowledge and get the traction that is needed to make a conceptual contribution. Thus, a theoretical framing that includes the relationship between business model innovation and digitalization and propositions congruent with our general gestalt of the inquiry will be developed. The results indicate, despite some structural and processual commonalities that digitalization and business model innovation share, the mission to manage both phenomena remains challenging. In particular, some peculiarities inherent in the ambidexterity perspective need to be taken into account. Particularly under the constraints of a high degree of resource scarcity, it is important to strive for sustainable actions that lead to increased value creation and competitive advantage. Thus, this study implements an ambidexterity perspective on the two distinct areas of technology and innovation and provide groundings for further research avenues on ambidexterity and firm performance.

Business Models in the Renewable Energy Industry

2021 ◽  
pp. 1405-1438
Author(s):  
Adrian Dumitru Tantau ◽  
Laurenţiu Cătălin Frăţilă
Keyword(s):  
Renewable Energy ◽  
Business Model ◽  
Business Models ◽  
New Technologies ◽  
Energy Systems ◽  
Added Value ◽  
Low Carbon Economy ◽  
Energy Field ◽  
New Business ◽  
Decentralized Energy

Business models in the energy field are continuously developed in parallel with the transformation stages of the energy systems from the decentralized energy systems to centralized energy systems, to distributed energy systems and to smart energy systems. Concerning different specific approaches to business models we have selected a structure that helps the understanding of the main elements of a business model and also its specificity for renewable energy. The business models based on added value and the innovation as main added value represent the core of this chapter. The global trend to clean energy, to a low carbon economy and the related new technologies and new life standards represent opportunities that could be used by entrepreneurs in order to develop and implement new business ideas. The process of business ideas development is analyzed starting with creativity technics and it also includes also innovative measures to protect new business ideas. The main objective of this chapter is to understand the importance of business models and to know how to develop a business model with its specificity for the renewable energy field.

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