Study of business model innovation: developing new frameworks of business models for the future
Chandrasekara, C. H. M. Kasun Priyanka
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The literature review on emerging concepts of 'Business model' and 'Business model innovation' finds significant theoretical and practical potential to facilitate the strategising and innovating activities of modern organisations operating in complex and dynamic business environments. However, a further review of extant literature reveals that although a significant knowledge-base has been accumulated focusing on the content and process aspects of the phenomenon, very few of the conducted studies take a practice-based perspective. Therefore, in keeping with the broader research question of current strategising practices, this research investigates the issue from many possible philosophical, theoretical and methodological angles, in turn making several contributions to the theory and practice of business models while also opening up several potential future research avenues. This research consists of four main research stages sequentially covering problem formulation, two theory creation phases and problem solving, thereby meeting the requirements of a practice-based management research through relevance rather than merely rigour, as in conventional scientific research. As a result, it offers several research contributions to both the theory and practice of business models, which can be immediately put into practice by theorists, practitioners and entrepreneurs: a pluralistic business model research classification framework; a dynamic practice-based approach to the construction of business models; a knowledge-based conceptualisation of business models and a dynamic capability matrix for business model practices. Additionally, this research also offers potential future contributions to adjacent research streams such as dynamic capabilities, strategy as practice and research methodology. Overall, by utilising the philosophy of pragmatism, this thesis advances the contemporary discipline of business models towards a practice-based science, crucially and timely bridging the knowledge gap in existing practice-based theories and frameworks business models. It is hopes that this work will gave rise to a new movement of research on business models, positioning itself as a well established applied-oriented management science among the broader disciplines of strategy, innovation and entrepreneurship
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