Does business model experimentation in dynamic contexts enhance value capture?

Herrero, Ferran Vendrell; Parry, Glenn; Opazo‐Basáez, Marco; Montesinos, Francisco J. Sanchez

doi:10.1504/ijbe.2018.093301

Cited by 12 publications

(5 citation statements)

References 41 publications

(64 reference statements)

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“…The literature discusses sustainable management logic. In general, overcoming the traditional barriers and roles in management logic seems to be fundamental for the future of marketing strategies in this field (Vendrell-Herrero 2018 ). In particular, Kullak et al ( 2021 ) suggested that managers of minor organizations should develop and coordinate a network in which actors have access to relevant resources.…”

Section: Discussion and Managerial Implicationsmentioning

confidence: 99%

Music in business and management studies: a systematic literature review and research agenda

Pizzolitto

2023

Manag Rev Q

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Music is the background of life, representing an international language that connects different cultures. It is also significant with respect to economies, markets, and businesses. The literature in the music field has identified several issues related to the role of digitalization in the revolution of music, the distribution of music products, the management and organization of music events, music marketing strategies, and the position of musicians as entrepreneurs. This paper comprises a systematic literature review of the most recent articles discussing the numerous connections between music, business, and management (2017–2022). Through a rigorous protocol, this research discusses the effects of the digital revolution on the music industry, with particular reference to the persisting oligopoly of major labels and the new business models that integrate music streaming and social networks. The findings show the renaissance and relevance of live music events, the fundamental role of segmentation strategies for managing festivals, and the limited presence of sustainability as a priority during festivals and events management. Furthermore, the literature highlights the relevance of discussions concerning musicians’ identity, especially in light of the complex relationship between the bohemian and the entrepreneurial nature of their profession. This is followed by numerous reflections on future research opportunities, recommending theoretical and empirical in-depth studies of music industry competition, futuristic management philosophies and business models, and the roles of technology, sustainability, and financial elements in fostering artists’ success in the digital era. Finally, the paper discusses business models and strategies for musicians, festivals management, stores, and sustainability.

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Section: Discussion and Managerial Implicationsmentioning

confidence: 99%

Music in business and management studies: a systematic literature review and research agenda

Pizzolitto

2023

Manag Rev Q

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“…The dynamics of continuous experimentation and focused learning, as revealed in this study, show that-by continuously experimenting with various business models-a frugally innovating enterprise is exposed to business model diversity. This enables it to better create, deliver and capture value, through full commitment to a business model that best serve customers with varying needs (Vendrell-Herrero et al, 2018). The proposition below then follows:…”

Section: Discussionmentioning

confidence: 99%

“…The extant literature suggests that, when emerging in dynamic contexts, firms are bound to experiment with different business models (Vendrell-Herrero, Parry, Opazo-Basáez, & Sanchez-Montesinos, 2018). Business model experimentation is a method for discovery driven, dynamic innovation around the business model, based on unknown assumptions, by testing and clarifying the results of the change (McGrath, 2010).…”

Section: Business Models and Frugal Innovationmentioning

confidence: 99%

New Business Models for Frugal Innovation: Experience from an Enterprise Supporting Sustainable Smallholder Agriculture in Kenya

Musona

2021

Contributions to Management Science

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Prior frugal innovation studies have highlighted their role in promoting ecological and social sustainability. The way enterprises coordinate a value proposition with the upstream and downstream value chain activities and a workable financial model are noted to be key in the delivery of innovations in low-income settings. However, the extant literature does not explicitly explain how enterprises combining socially oriented practices with economic rationality, successfully deliver their frugal innovation to low-income consumers. The current study thus contributes to this gap by employing the business model theoretical framework-via a single-case study design for a Kenyan enterprise supporting precision farming by serving smallholder farmers with digitally enabled low-cost soil sensors and interactive support services. Analysis of the case reveal four approaches that led to the successful delivery of the innovation: long-term focus, adjustable commitment, continuous experimentation, and the bricolage principle. In addition, digital technologies positively influenced the success of the soil sensors and respective business models. The study contributes to the literature streams around frugal innovation and social sustainability, by expanding knowledge around bringing frugal innovations to the market. Moreover, the study develops a framework of value creation and capture, in digitally enabled frugal innovation. This is of practical significance to enterprises engaging in frugal innovation in low-income contexts.

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“…The business model (BM) tends to be defined as the logic of how an organisation creates, delivers and captures value (Budler et al, 2021;Miller et al, 2021;Teece, 2018;Wirtz et al, 2016). More recently, it has been observed that this is far from a static process, with tight coupling of operating model and BM innovation concepts (Andreini et al, 2022;Bashir et al, 2020;Massa et al, 2017;Srai et al, 2022) and with firms increasingly engaging in BM redesign processes in dynamic industry contexts, where new capabilities and market challenges continuously emerge (Schaffer et al, 2019;Vendrell-Herrero et al, 2018).…”

Section: Introductionmentioning

confidence: 99%

“…, 2022) and with firms increasingly engaging in BM redesign processes in dynamic industry contexts, where new capabilities and market challenges continuously emerge (Schaffer et al. , 2019; Vendrell-Herrero et al. , 2018).…”

Section: Introductionmentioning

confidence: 99%

Value proposition-driven reconfiguration of business models in dynamic industries: a design-science approach

Kouptsov

Srai

2023

BPMJ

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PurposeThis paper aims to better understand and structure the process of business model (BM) redesign in dynamic industry contexts by exploring the interactions of BM components through a configuration and design-science lens. While these interactions have been investigated broadly in the BM literature, detailed studies on their properties and structures are limited.Design/methodology/approachA design-science methodology was utilised to conceptualise a BM design artefact based on literature, the components' interactions of which were investigated and iteratively validated through a case study of an organisation going through a BM change. The artefact served as a framework to capture the case firm's BM and value proposition through semi-structured interviews.FindingsThe results suggest that the interaction of BM components is represented by the value proposition as an integrating mechanism, which can be expressed as a combination of tangible, intangible and monetary inter-component flows. The value proposition, rather than being pre-determined and static, is dynamic and evolves as its flows are exchanged across the value creation, delivery, customer and capture components of the BM. These exchanges and interactions are facilitated by the components' input-process-output capabilities and drive BM reconfiguration through five value flow “properties”, expressed in terms of change in quantity, speed/frequency, composition, quality and value.Research limitations/implicationsWhile developed with inputs from a complex business environment that provides a rich research context, this work acknowledges the trade-off between in-depth single case analysis in theory building, and the need for follow-on research to address the limiting contextual variables and extend generalisability.Practical implicationsThe study offers a framework-based sequence of activities that managers can adopt for the BM design process in dynamic industry environments.Originality/valueThis work contributes to BM theory by setting out a mechanism that helps better understand interactions of BM components in dynamic environments, while also challenging the established definition of the value proposition concept – a key BM component – thus presenting significant implications for theory.

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Does business model experimentation in dynamic contexts enhance value capture?

Cited by 12 publications

References 41 publications

Music in business and management studies: a systematic literature review and research agenda

Music in business and management studies: a systematic literature review and research agenda

New Business Models for Frugal Innovation: Experience from an Enterprise Supporting Sustainable Smallholder Agriculture in Kenya

Value proposition-driven reconfiguration of business models in dynamic industries: a design-science approach

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