The business model as a generative replicator

Abstract

This paper proposes a new conceptualization of business model (BM) that rigorously exploits the important insights this notion offers and links them to related views developed in economics and business studies. We develop the foundations of a BM concept consistent with the principles of generalized Darwinism (GD) and with contributions already developed within this framework. Thus, we demonstrate the relevance of GD as a unifying framework for developing the evolutionary theory of firm and industry. We suggest analysing BM as a generative replicator hosted by the firm, which structures interactions between the members of this organization and the social entities of its industrial environment. We argue that GD allows us to clarify the nature and boundaries of the BM concept and to specify its relationships to other key evolutionary concepts, such as organizational routines.

The evolution of economies, technologies, and other institutions: exploring W. Brian Arthur's insights

“…He theorized them in publications initially rejected by the profession but are now widely celebrated across ideological lines. Complexity, evolutionary, and institutional economists are particularly fond of studying formation in recent literature (Brette and Chassagnon, 2021; Choi and Storr, 2022; Van Bavel, 2020).…”