Creating new business models : approaches, techniques and measurement for strategic leadership and management

[摘要] ENGLISH ABSTRACT:Given the increased uncertainty and unpredictability prevalent in the business environment,there is heightened pressure for organizations to become radically innovative and toconstantly reinvent themselves, and ultimately change the rules of the game in their industry.The concept of new business models is relatively new to business literature. However, itssignificance cannot be underestimated where operating in a turbulent competitive landscapehas made the traditional way of doing business ineffective, and consequently has changed thenature of competitive advantage. Despite the obvious importance of creating new businessmodels, there seems to be inadequate understanding and definition of the term businessmodel, thereby hindering the understanding of the nature of new business models and theapproaches needed for creating new business models.This paper initially investigated the concept of business model and its core dimensions,which revealed that the term lacks an adequate and comprehensive definition. In response tothis, a comprehensive working definition for the concept was formulated after an analysis ofthe various definitions proposed in the business literature. Since the key elements of abusiness model are important sources of competitive advantage, this definition has been usedto illustrate how organizations can create new business models by manipulating the basicaspects of the business model. Approaches and techniques that enable organizations to createnew business models and to become radically innovative have been selected from those putforward by Govindarajan and Gupta (2001) and Amit and Zott (2001). Finally, an analysiswas made of the performance measurement tools for new business models. This revealed alack of such an evaluation tool and this study has proposed a framework from which itsdimensions can be used to expand and develop a measurement instrument for proposedbusiness models and/or industries.

[发布机构] Stellenbosch University