Designing innovative business models: Five emerging meta-models

Johnson, D; Wrigley, C; Straker, K; Bucolo, S

Designing innovative business models: Five emerging meta-models

Johnson, D Wrigley, C

Straker, K Bucolo, S

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Publication Type:: Conference Proceeding
Citation:: 2013 IEEE-Tsinghua International Design Management Symposium: Design-Driven Business Innovation, TIDMS 2013 - Proceedings, 2014, pp. 70 - 77
Issue Date:: 2014-12-09

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Field	Value	Language
dc.contributor.author	Johnson, D	en_US
dc.contributor.author	Wrigley, C https://orcid.org/0000-0001-7349-8469	en_US
dc.contributor.author	Straker, K	en_US
dc.contributor.author	Bucolo, S https://orcid.org/0000-0002-4195-4500	en_US
dc.date.issued	2014-12-09	en_US
dc.identifier.citation	2013 IEEE-Tsinghua International Design Management Symposium: Design-Driven Business Innovation, TIDMS 2013 - Proceedings, 2014, pp. 70 - 77	en_US
dc.identifier.isbn	9781479915392	en_US
dc.identifier.uri	http://hdl.handle.net/10453/120816
dc.description.abstract	© 2013 IEEE. Business models to date have remained the creation of management, however, it is the belief of the authors that designers should be critically approaching, challenging and creating new business models as part of their practice. This belief portrays a new era where business model constructs become the new design brief of the future and fuel design and innovation to work together at the strategic level of an organization. Innovation can no longer rely on technology and R&D alone but must incorporate business models. Business model innovation has become a strong type of competitive advantage. As firms choose not to compete only on price, but through the delivery of a unique value proposition in order to engage with customers and to differentiate a company within a competitive market. The purpose of this paper is to explore and investigate business model design through various product and/or service deliveries, and identify common drivers that are catalysts for business model innovation. Fifty companies spanning a diverse range of criteria were chosen, to evaluate and compare commonalities and differences in the design of their business models. The analysis of these business cases uncovered commonalities of the key strategic drivers behind these innovative business models. Five Meta Models were derived from this content analysis: Customer Led, Cost Driven, Resource Led, Partnership Led and Price Led. These five key foci provide a designer with a focus from which quick prototypes of new business models are created. Implications from this research suggest there is no 'one right' model, but rather through experimentation, the generation of many unique and diverse concepts can result in greater possibilities for future innovation and sustained competitive advantage.	en_US
dc.relation.ispartof	2013 IEEE-Tsinghua International Design Management Symposium: Design-Driven Business Innovation, TIDMS 2013 - Proceedings	en_US
dc.relation.isbasedon	10.1109/TIDMS.2013.6981218	en_US
dc.title	Designing innovative business models: Five emerging meta-models	en_US
dc.type	Conference Proceeding
utslib.for	1203 Design Practice and Management	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/DVC (International)
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	/University of Technology Sydney/Strength - DIRC - Design Innovation Research Centre
utslib.copyright.status	closed_access
pubs.publication-status	Published	en_US

Abstract:

© 2013 IEEE. Business models to date have remained the creation of management, however, it is the belief of the authors that designers should be critically approaching, challenging and creating new business models as part of their practice. This belief portrays a new era where business model constructs become the new design brief of the future and fuel design and innovation to work together at the strategic level of an organization. Innovation can no longer rely on technology and R&D alone but must incorporate business models. Business model innovation has become a strong type of competitive advantage. As firms choose not to compete only on price, but through the delivery of a unique value proposition in order to engage with customers and to differentiate a company within a competitive market. The purpose of this paper is to explore and investigate business model design through various product and/or service deliveries, and identify common drivers that are catalysts for business model innovation. Fifty companies spanning a diverse range of criteria were chosen, to evaluate and compare commonalities and differences in the design of their business models. The analysis of these business cases uncovered commonalities of the key strategic drivers behind these innovative business models. Five Meta Models were derived from this content analysis: Customer Led, Cost Driven, Resource Led, Partnership Led and Price Led. These five key foci provide a designer with a focus from which quick prototypes of new business models are created. Implications from this research suggest there is no 'one right' model, but rather through experimentation, the generation of many unique and diverse concepts can result in greater possibilities for future innovation and sustained competitive advantage.

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http://hdl.handle.net/10453/120816