- E-ISSN2288-2766
- KCI
E-ISSN : 2288-2766
Note on Debate over Relationship Between Business Model and Strategy
Abstract
Purpose – This short paper reviews the debate dealing with the relationship between strategy and traditional strategy approach on the one hand, and business models and new business model approach on the other hand and tries to offer useful direction to be more helpful to theoretical discussions. Research design, data, and methodology – This paper makes a theoretical analysis to explain the confusion surrounding the debate, reviewing mainly literature survey papers and finds theoretical conjecture and its limitations in order to present useful direction to the future theoretical work. Result – In order to comprise its diversity, business model studies should consider the characteristics of each firm, sector, and market. Adding further elements which are related to each sector or market, theoretical studies can capture the diverse phenomena related to business model and business model innovation. Conclusion – The traditional strategy perspective can be utilized to the Business model phenomenon in the case of incumbent firms and non-digital sector and existing markets. Meanwhile the new business model perspective can be utilized to business model phenomena in case of start-ups and digital sector and emerging markets. Reconciling two perspectives, the studies dealing with the business model should focus on the characteristics of firms, markets, and knowledge from the perspective of business model innovation.
- keywords
- Business Model Approach, Strategy Approach, Business Model Innovation, Existing Market, Emerging Market
Reference
Adner, R., & Kapoor, R. (2010). Value creation in innovation ecosystems: how the structure of technological interdependence affects firm performance in new technology generations. Strategic Management Journal, 31(3), 306 – 333.
Bigelow, L. S., & Barney J. B. (2021). What can strategy learn from the business model approach? Journal of Management Studies, 58(2), 528-539.
Broekhuizen, T. L.J., Bakker, T., & Theo J.B.M. Postma, T. J. B. M. (2018). Implementing new business models: What challenges lie ahead? Business Horizons, 61(4), 555-566.
Casadesus-Masanell, R., & Ricart, J. E. (2010). From strategy to business models and onto tactics. Long Range Planning, 43(2-3), 195-215.
Chesbrough, H. (2007). Business model innovation: it's not just about technology anymore. Strategy & Leadership, 35(6), 12-17.
Cosenz, F. & Noto, G. (2018). A dynamic business modelling approach to design and experiment new business venture strategies. Long Range Planning, 51(1), 127-140.
Cortimiglia, M. N., Ghezzi A., & Frank, A. G. (2016). Business model innovation and strategy making nexus: evidence from a cross-industry mixed-methods study. R&D Management, 46(3), 414-432.
Fjeldstad Ø. D., & Snow, C. C. (2018). Business models and organization design. Long Range Planning, 51(1), 32- 39.
Goyal, S., Kapoor, A., Esposito, M., Sergi, B. S. (2017). Understanding business model – literature review of concept and trends. International Journal of Competitiveness, 1(2), 99-118.
Friis, J. D., Lueg, R., Mayanja, R., Salling, S. T., Sørensen, K. A. M. (2015). Business model or strategy: which comes first? A lifecycle perspective, in the Scandinavian software industry. Problems and Perspectives in Management, 13(2), 161-169.
Grant, R. M. (2010), Contemporary Strategy Analysis, 7th edition. John Wiley & Sons Ltd.
George, G., & Bock, A. J. (2011). The business model in practice and its implications for entrepreneurship research. Entrepreneurship theory and Practice, 35(1), 83-111.
Gorynia, M., Trąpczyński, P., & Bytniewski, S. (2019). The concepts of strategy and business models in firm internationalization research: Towards a research agenda. International Entrepreneurship Review, 5(2), 7-21.
Klang D. Wallnöfer, M., & Hacklin, F. (2014). The business model paradox: a systematic review and exploration of antecedents. International Journal of Management Reviews, 16(4), 454–478.
Malerba, F. (2005). Sectoral systems of innovation: a framework for linking innovation to the knowledge base, structure, and dynamics of sectors. Economics of Innovation and New Technology, 14(1-2), 63-82.
Massa, L., Tucci, C. L., & Afuah, A. (2017). A critical assessment of business model research. Academy of Management Annals, 11(1), 73-104.
McGrath, R. G. (2010). Business models: a discovery driven approach. Long Range Planning, 43 (2-3). 247-261.
Porter, M. E. (2001). Strategy and the internet. Harvard Business Review, 79(3), 1-19.
Priem, R. L. (2007). A consumer perspective on value creation. The Academy of Management Review, 32(1), 219-235.
Priem, R. L., Wenzel M., & Koch, J. (2018). Demand-side strategy and business models: putting value creation for consumers center stage. Long Range Planning, 51(1), 22-31.
Ramdani, B., Binsaif, A., & Boukrami, E. (2019). Business model innovation: a review and research agenda. New England Journal of Entrepreneurship, 22(2), 89-108.
Seddon, P. B. & Lewis, G. P. (2013). Strategy and business models: what’s the difference? Pacis 2003 proceedings - 7th Pacific Asia Conference on Information Systems, 10-13 July 2003, 236-248.
Seddon, P.B., Lewis, G. P., Freeman, P., Shanks, G. (2004). The case for viewing business models as abstractions of strategy. Communications of the AIS, 13, 427-42.
Spieth, P., Schneckenberg, D., & Matzler, K. (2016). Exploring the linkage between business model (&) innovation and the strategy of the firm. R&D Management, 46(3), 403-413.
Teece, D. J. (2010). Business models, business strategy and innovation. Long Range Planning, 43(2-3),172-194.
Zott, C. & Amit, R. (2008). The fit between product market strategy and business model: implications for firm performance. Strategic Management Journal, 29(1), 1-26.
Zott C, Amit, R., & Massa, L. (2011). The business model: recent developments and future research. Journal of Management, 37(4), 1019-1042.
- Downloaded
- Viewed
- 0KCI Citations
- 0WOS Citations
