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User-centric, Value-oriented Business Models? An Analysis of how Value is Seen in Different Business Model Research Streams
Last modified: 2013-07-09
Abstract
A business model is an integral part of creating, adapting, and maintaining a product or service to market maturity; without the business model, there is no market-ready product or service, just an idea. In the past years, business model research has flourished and touched numerous research areas and authors in their work. There is a plethora of definitions, descriptions, and combinations of elements that aim to clarify what a business model is and does. Out of these numerous elements, one aspect strikes us as quintessential for successfully creating a product or service: The aspect of value. In this paper, we intend to provide an analysis of existing business model approaches with a focus on how the aspect of value is incorporated in these concepts. Rooting in the believe that the value that the customer receives or perceives should be the center in business model formulation, we take this as a first step towards user-centered, value-oriented business model design.