The role of a business model in market growth: The difference between the converted industry and the emerging industry

Yun, JinHyo Joseph; Won, Dongkyu; Park, Kyung Bae; Jeong, EuiSeob; Zhao, Xiaofei

doi:10.1016/j.techfore.2019.04.024

Cited by 63 publications

(56 citation statements)

References 30 publications

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“…The current literature focuses on strategies such as socially responsible investment (i.e., [29]), corporate social responsibility (i.e., [30]), going green (i.e., [31]) to meet the sustainable development goals. However, far too little attention has been paid to the importance of the role of the business models in achieving the sustainability goals in the banking sector whilst many researchers consider the business models as tools for implementing the strategies (e.g., [32,33]), therefore, designing an SBM provides the opportunities for the banks to execute their sustainability strategies. An SBM is a tool that incorporates multi-stakeholder benefits and innovation to create and deliver sustainable values to implement the principles of sustainability and make money simultaneously [34].…”

Section: Introductionmentioning

confidence: 99%

Sustainable Banking; Evaluation of the European Business Models

et al. 2020

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Sustainability has become one of the challenges of today's banks. Since sustainable business models are responsible for the environment and society along with generating economic benefits, they are an attractive approach to sustainability. Sustainable business models also offer banks competitive advantages such as increasing brand reputation and cost reduction. However, no framework is presented to evaluate the sustainability of banking business models. To bridge this theoretical gap, the current study using A Delphi-Analytic Hierarchy Process method, firstly, developed a sustainable business model to evaluate the sustainability of the business model of banks. In the second step, the sustainability performance of sixteen banks from eight European countries including Norway, , assessed. The proposed business model components of this study were ranked in terms of their impact on achieving sustainability goals. Consequently, the proposed model components of this study, based on their impact on sustainability, are respectively value proposition, core competencies, financial aspects, business processes, target customers, resources, technology, customer interface, and partner network. The results of the comparison of the banks studied by each country disclosed that the sustainability of the Norwegian and German banks' business models is higher than in other counties. The studied banks of Hungary and Spain came in second, the banks of the UK, Poland, and France ranked third, and finally, the Italian banks ranked fourth in the sustainability of their business models.

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Section: Introductionmentioning

confidence: 99%

Sustainable Banking; Evaluation of the European Business Models

et al. 2020

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“…Managers should understand the multifaceted nature of innovation to build more effective strategies, per each stage of the innovation. For example, in converted industries, strategizing commercialization (i.e., the business model) might be more important, whereas in emerging industries, strategizing technology development in the early stage of the innovation might be more important [33].…”

Section: Implications For Managersmentioning

confidence: 99%

The Impact of Multimarket Competition on Innovation Strategy: Evidence from the Korean Mobile Game Industry

Lee

Park

Lee

2020

Journal of Open Innovation: Technology, Market, and Complexity

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Multimarket contact (MMC) refers to the situation in which more than two firms simultaneously compete with each other in multiple products and/or geographical markets. Most studies on MMC have explored how the market overlap creates “mutual forbearance”, which lessens the intensity of rivalry. While prior studies have mainly focused on how reduced rivalry from MMC influences market-related decisions, only a few have paid attention to its impact on innovation activities. The purpose of this research is to explore how multimarket competition influences different stages of innovation. Specifically, we focus on three stages of innovation: Content development, commercialization, and protection of IPs (Intellectual Property). This study is conducted as an exploratory case research based on the in-depth analysis of two leading Korean Mobile game companies. Based on our findings, we explain how mutual forbearance and observability of the rival’s competitive action influence the choice of strategic decisions across different stages of innovation.

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“…As such, the business model is more crucial than any other plan within business. Several studies have stressed the role and importance of the business model to the success and growth of business [4,[8][9][10][11]. The terminology itself received vast misrepresentation and misinterpretation with business and management discourse, so that it could mainly be substituted for terms such as BPM [10].…”

Section: The Roles Of Business Process Modelmentioning

confidence: 99%

“…The associations that implement BPM, namely Business Process Model and Notation (BPMN), are usually interested not only in describing the business process but also in analyzing, predicting behavior, and improving the business process to gain a competitive advantage in the global market. The quality of business (QoBiz) is closely connected with the quality of service (QoS): the former determines monetary profit or loss, while the latter is concerned with performance, security, reliability, and availability [8,12,13]. The product development is based on the transformation of an idea into a commercial product [14].…”

Section: Introductionmentioning

confidence: 99%

“…These industries erupt as a result of the emergent of a new technology [18]. In contrast, Yun et al focused on the converted industries, as those industries built on existing structures and ideas [8]. The authors stressed that regardless of the fascinating differences between intelligent robots and self-driving cars, the business models used in pushing the market for both products is what matters.…”

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confidence: 99%

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The Business Process Model and Notation of Open Innovation: The Process of Developing Medical Instrument

Tomášková

Penhaker

Augustýnek

et al. 2019

Journal of Open Innovation: Technology, Market, and Complexity

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The Business Process Model to represent the process of developing a medical device is presented in this paper. In the age of population aging and a growing amount of patients, enormous pressure is put on improving their care and living conditions. The development of medical devices is a complicated and expensive process. Therefore, the whole process was subjected to an analysis of business processes, and the resulting model was expressed using the Business Process Model and Notation (BPMN). The model aims to illustrate the consentient process of designing a medical device using graphical notation. This notation is suitable for displaying models of healthcare environments thanks to its user-friendliness and easy comprehensibility for all parties involved. In addition, this study demonstrates that the model in BPMN notation by its depth of specificity falls to the level of activity sub-processes. This level of abstraction allows a comprehensive view of the entire process, as well as future extensions for a more in-depth analysis and process mining techniques. the fields of biomedical science and technology gives rise to a paradoxical situation. On the one hand, the complexity of biomedical knowledge is increasing and requires more significant efforts for specialization and cooperation; on the other hand, the lifetime and timeliness of knowledge is significantly reduced [1]. It is evident that health care should be provided by safely designed [2,3] and effective [4,5] systems. These systems need to be explicitly designed to meet patient needs [1,5]. This assumption requires sufficient awareness of the patients to maintain control of their care.In terms of modeling these specific systems, it is essential to identify critical processes that will be modeled and then optimized. For most systems, it is not financially or time-feasible to analyze all processes, and even assuming this is possible, it is often unnecessary. It is always necessary to consider the priority of individual processes and focus primarily on improving processes with strategic importance for the operation of the system. Thus, process modeling becomes an important part of management, analysis, decision-making, and system optimization. There is a wide range of process approaches such as Activity-Based Costing [1], Business process Reengineering [6], Process Innovation [7] Workflow Management [8], Total Quality Management [9], and Supply Chain Management [10]. The range of these approaches, however, means a significant expansion of creators and users, which in turn places great emphasis on the clarity of these models. It is important to realize that the choice of modeling approach is inevitably dependent on the background of the decision problem or on the initial and resulting criteria. The findings of the research study by DiMasi, Grabowski, Hansen [2] revealed that the implementation of Business Process Model (BPM) contributes to resource optimization and quality enhancement. More specifically, the BPM enables to:

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The role of a business model in market growth: The difference between the converted industry and the emerging industry

Cited by 63 publications

References 30 publications

Sustainable Banking; Evaluation of the European Business Models

Sustainable Banking; Evaluation of the European Business Models

The Impact of Multimarket Competition on Innovation Strategy: Evidence from the Korean Mobile Game Industry

The Business Process Model and Notation of Open Innovation: The Process of Developing Medical Instrument

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