Business Research Methodology - Understanding Business Models and Business Model Innovation

Business Research Methodology

Table of Contents
1. Introduction..................................................................................................................... 3
2. Literature Review............................................................................................................. 4
2.1 Concept of Business Model............................................................................................4
2.1.1 Definition.................................................................................................................4
2.1.2 Business Model Framework....................................................................................5
2.1.3 Business Model Canvas...........................................................................................7
2.1.4 Classification of business models............................................................................9
2.2 Business Model Innovation.......................................................................................... 10
2.2.1 Definition...............................................................................................................10
2.2.2 Need for business model innovation.....................................................................10
2.2.3 Business model innovation framework.................................................................10
2.2.4 Types of business model innovation......................................................................11
3. Conclusion...................................................................................................................... 13
4. References......................................................................................................................14
Table of figures
Figure 1: Use of “Business Model” term and fluctuation in NASDAQ.......................................4
Figure 2: Role of technical inputs and economic outputs through business model.................5
Figure 3: Business model components.....................................................................................6
Figure 4: Framework of busines model....................................................................................7
Figure 5: Business Model Canvas............................................................................................. 8
List of Tables
Table 1: Definitions of Business Models...................................................................................5
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Table 2: Business model classification......................................................................................9
Table 3: E-business model classification...................................................................................9
Table 4: Innovation in business model types..........................................................................11
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1. Introduction
A company’s plan or strategy which defines processes through which the corporation
focuses on generating revenues and makes a profit is referred as a business plan. It shapes
the nature, culture and ethos of a corporation along with its financial strategies
(Schaltegger, Ludeke-Freund & Hansen, 2012). This concept is studied by many experts in
order to understand, design and implement business models which are targeted on
fostering innovation and achieving effectiveness in the market. In this report, the concept of
business model will be analysed along with business model innovation by evaluating a wider
range of literature on the topic. Furthermore, this report will also provide a business model
for Hikari Data Solutions Limited which will assist the company in sustaining its future
growth.
The section of this report will introduce various concepts of business models and its
origin. Section two of this report will include definitions of business model framework by
evaluating literature. This section will also describe the role of Business Model Canvas. It is
referred to a tool which is used by the management to design and shape their business
model. Different business model types will be included in this section as well. Section three
focuses on exploring various literature in order to understand the definition of business
model innovation and its types. Recommendations will be made in section four of this
report in which a business model will be recommended for Hikari Data Solution Limited.
Lastly, this report will be summarised in section five.
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