The Fifth Stage of Business Model Research: The Role of Business Models in Times of Uncertainty


  • Christian Nielsen
  • Annabeth Aagaard



It is not only new trends and technologies that are currently disrupting and changing the way we do and think business. Global geopolitical stability is deteriorating, leading to rising uncertainty for international trade. Climate change is fostering the need for inclusiveness in business and for an increase in sustainability to the zero-impact level. In addition, we face exogenous shocks such as the COVID-19 pandemic. Although none of these factors are unforeseen, their magnitude and recurrence have provided a platform for a massive refocusing of business and research priorities since the beginning of 2020. Therefore, the fifth stage of business model research will be known as “the role of business models in times of uncertainty”. In this paper we discuss the role of business models in times of uncertainty and provide new venues for further research and progression of business models as we know them.