“…BM approaches are based on the concepts of strategy, resources, capabilities, and the competitiveness of a sector, and they aim to create value for customers while part of the value created is also taken by firms (Christensen et al, 2016). As discussed by numerous scholars (Amit & Zott, 2001;Johnson et al, 2008;Massa et al, 2017;Osterwalder & Pigneur, 2010), an exact and singular definition of BMs does not exist. Therefore, it is possible to state that a BM is a framework (or a construct) based on previous theories, such as the theory of competitive advantage (Porter, 1985) or the theory of resources and capabilities (Barney, 1991).…”