Analyzing business models in products, platforms, or ecosystems
Purpose: This conceptual article argues that the definition of a business model should be different for products, platforms, and ecosystems.
Design/Methodology/Approach: Building on existing literature, this article suggests a clarification on the business model construct. We summarize the dispersed literature on defining the concept and proposes a converging approach to suit three different contexts.
Research Limitations/Implications: The paper presents illustrative examples for different contextual approaches. However, we are restricted to simplifications when both summarizing the existing literature and presenting the empirical examples.
Practical Implications: The presented model can increase the clarity and applicability of the business model concept for both scholars and practitioners.
Originality/Value: We offer a new converging perspective to business model research, clarifying the benefits and applicability of the competing definitions. We argue that the different approaches help to delineate the typical characteristics of a business model, depending on the context of evaluation.
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