Our regular academic columnists look at the importance of business models to innovation.
The role of business models has recently received considerable attention both in practice and academia. In this article we briefly review the current debate and highlight a number of interesting insights regarding the value of business models and the purpose they serve.
What is a business model? While there is, surprisingly, no consensus on how to define a business model, most studies appear to agree that it is the construct that conceptualises how firms generate, deliver and capture value – the model that explains how financial value can be extracted from a technology, product…
