Academic paper 1 and 3

Question 1

What are the three concepts the researcher found?

Answer 1

• E-business model archetypes
• Business model as an activity system
• Business model as cost/revenue architecture

Question 2

Which important four themes are forming around business models?

Answer 2

• New unit of analysis
• Systematic perspective
• Boundary-spanning activities
• Value creation

Question 3

Which perspective did researchers generally adopt? And explain them.

Answer 3

Holistic and systematic. It means that the researchers did not just focus on “what” businesses do, but also on “how” they do it.

Question 4

What does the received literature support on business models?

Answer 4

That business models are an activity system perspective.

Question 5

Scholars have shifted emphasis from … to …

Answer 5

Value capture to value creation.

Question 6

What is the definition that came from the four important themes?

Answer 6

The business model as a new unit of analysis, as a system-level concept, centered on activities and focusing on value.

Question 7

What are the limitations of this research?

Answer 7

• Quite recent
• Only a few contributors have been in top journals
• The literature is widely divergent
• The business model remains a theoretically underdeveloped concept

Question 8

What are the components of the Business model?

Answer 8

• Value stream.
• Revenue stream/sources.
• Logistical stream.
• Profit stream.

Question 9

What is Schumpeterian innovation?

Answer 9

The total re-configuration of the value chain.

Question 10

What are the four potential sources of value creation?

Answer 10

• Novelty.
• Lock-in.
• Complementarities.
• Efficiency.

Question 11

What are the effects which can help to analyse a firm’s performance?

Answer 11

• The total value creation potential of the business model.

- The firm’s ability to appropriate the value that is created.

Question 12

What is the type of relationship between Business model and product market strategy and how is it often misunderstood as?

Answer 12

They are complements and they are often misunderstood as Substitutes.

Question 13

What are the three business model innovation types mentioned in the article?

Answer 13

• Industry Models(Supply chain Industries)
• Revenue Models(Innovation in Revenue streams)
• Enterprise models(Innovation in the structure of the firm, either in the new or existing value chain.)

Question 14

What does open Innovation mean?

Answer 14

Firm relying on innovation from outside the firm rather than it’s own R&D.

Question 15

What does collaborative entrepreneurship mean?

Answer 15

Creation of new ideas consisting of economic value based on new jointly generated ideas that emerge from sharing information and knowledge.

Question 16

What are the capabilities needed to improve the business model of the firm?

Answer 16

• Strategic sensitivity
• Leadership unity.
• Resource flexibility.

Question 17

What are revolutionary business models?

Answer 17

Development of new business models where both value creation and value capture in a value network.

Question 18

What does Novelty mean?

Answer 18

Finding new ways to conduct economic transaction between the participants(stakeholders).

Question 19

What can a Novelty-centered Business model do to the market?

Answer 19

When implemented, it can result in superior value creation and replace the old way of working and standardise the new model for the next generation.

Question 20

What are the common design themes in Business models?

Answer 20

Efficiency and Novelty.

Question 21

What are the possible contingent effects of the business model mediating between product market strategy and firm performance?

Answer 21

• Business models that emphasize novelty and are coupled with either differentiation or cost leadership can have a positive impact on the firms performance.
• Novelty-centered business models together early entry into a market can have a positive effect on performance.

Question 22

What are the differences between Product market strategy and Business model?

Answer 22

The strategy emphasizes on competition, value creation and competitive advantage and the business model focuses on cooperation, partnership and joint value creation.
The business model emphasises more on the value proposition and the role of the customer when compared to the strategy.

Question 23

What is the quirk of the business model innovation?

Answer 23

Business model innovation cannot guarantee the firm’s success because technology has no inherent value.

Question 24

What is the significance of the Efficiency-centered business model?

Answer 24

The measures taken by the firm to achieve transaction efficiency through their business model.

Question 25

On what factors does a firm’s ability depend on to appropriate the value that is generated by its business model?

Answer 25

• The switching costs of other business model stakeholders.
• The focal firm’s ability to control information.
• The ability of other stakeholder’s to take unified action on the focal firm, and
• The replacement costs of other stakeholders.

Question 26

What are the 5 stages to collect data to test the hypotheses to determine the Business model design theme?

Answer 26

• Development of the new Survey system.
• Development of measurement scales.
• Pretesting of the survey.
• Development of an online web interface and of a central database, and
• Data collection.

Question 27

What does resource munificence mean?

Answer 27

The availability of resources needed to support the growth of a firm within an Industry.