The role of stakeholders in relation to the business model in the taxi industry
This paper illustrates how business models and business model innovation are related to the theory of stakeholders. Thepaper explores how lack of business model innovation in the taxi industry, can be explained by the relation to the powerand interests of its stakeholders. The authors have employed an explanatory case study, using multiple sources ofevidence, primarily archival records and observations. The research reveals that the business model of the taxi industryhave not experienced major changes, even though the environment surrounding the taxi industry have seen severalchanges. An analysis of the stakeholders of the taxi industry explains that the lack of business model innovation is aconsequence of the misfit between the power of the taxi industry and government, and the customers. The papercontributes to the existing literature of business models, business model innovation and stakeholder theory, and theirrelation in between.