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Business Model Innovation in the Internet of Things: A Configurational Perspective
Type
conference paper
Date Issued
2018-11
Author(s)
Abstract (De)
In recent years, business model design has received increased attention as a perspective to associ-ate business model innovation with firm performance. In this view, fitness between a business model’s elements leads to high performance and conversely, high performance requires fitness between the design elements. However, so far there have been few insights into the concrete con-tent and structure of design element configurations that enable high performance. Based on an investigation of 188 entrepreneurial ventures operating in the context of the Internet of Things (IoT), this study develops a taxonomy of IoT business models comprising a total of 108 design elements. By applying a k-Modes clustering approach, we further identify such high performing business model configurations. Finally, based on a random forest analysis, our study finds that the design of the business model components customer relations, revenue model, market ap-proach, and solution are the most important in determining firm performance.
Language
English
Subject(s)
Division(s)
Contact Email Address
thomas.moellers@unisg.ch
References
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Baden-Fuller, C., & Mangematin, V. (2013). Business models: A challenging agenda. Strategic Organization, 11(4), 418–427.
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Barabba, V., Huber, C., Cooke, F., Pudar, N., Smith, J., Paich, M., … Cooke, F. (2002). A Multimethod Approach for Creating New Business Models : The General Motors OnStar Project. Interfaces, 31(1), 20–34.
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Casadesus-Masanell, R., & Zhu, F. (2013). Business model innovation and competitive imitation: The case of sponsor-based business models. Strategic Management Journal, 34, 464–482.
Chesbrough, H. (2010). Business model innovation: Opportunities and barriers. Long Range Planning, 43(2–3), 354–363.
Chesbrough, H., & Rosenbloom, R. S. (2002). The role of the business model in capturing value from innovation: evidence from Xerox Corporation’s technology spin-off companies. Industrial and Corporate Change, 11(3), 529–555.
Chesbrough, H., & Schwartz, K. (2007). Innovating business models with co-development partnerships. Research Technology Management, 50(1), 55–59.
Cisco. (2014). The Internet of Things Reference Model. White Paper.
Clauss, T. (2016). Measuring business model innovation: Conceptualization, scale development, and proof of performance. R&D Management, (1), 1–19.
Cosenz, F. (2017). Supporting start-up business model design through system dynamics modelling. Management Decision, 55(1), 57–80.
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Demil, B., & Lecocq, X. (2010). Business model evolution: In search of dynamic consistency. Long Range Planning, 43(2–3), 227–246.
Dess, G., Newport, S., & Rasheed, A. (1993). Configuration research in strategic management: Key issues and suggestions. Journal of Management, 19(4), 775–795.
Dijkman, R. M., Sprenkels, B., Peeters, T., & Janssen, A. (2015). Business models for the Internet of Things. International Journal of Information Management, 35(6), 672–678.
Doty, D. H., & Glick, W. H. (1994). Typologies As a Unique Form of Theory Building: Toward Improved Understanding and Modeling. Academy of Management Review, 19(2), 230–251.
Eisenhardt, K. M. (1989). Building Theories from Case Study Research. Academy of Management Review, 14(4), 532–550.
Eisenhardt, K. M., & Graebner, M. E. (2007). Theory building from cases: Opportunities and challenges. Academy of Management Journal.
Elkhodr, M., Shahrestani, S., & Cheung, H. (2016). The Internet of Things : New Interoperability, Management and Security Challenges. International Journal of Network Security & Its Applications, 8(2), 85–102.
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257118