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Reinventing Business ModelsHow Firms Cope with Disruption$
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Henk Volberda, Frans A.J. Van Den Bosch, and Kevin Heij

Print publication date: 2017

Print ISBN-13: 9780198792048

Published to Oxford Scholarship Online: December 2017

DOI: 10.1093/oso/9780198792048.001.0001

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Know Your Business Model

Know Your Business Model

(p.23) 2 Know Your Business Model
Reinventing Business Models

Henk Volberda

Frans van den Bosch

Kevin Heij

Oxford University Press

Chapter 2 focuses on what a business model is and what it affords: it is a unique mix of activities which results in value creation and delivers value appropriation and competitive advantage. Competitive advantage can be sustained only for a limited period, so firms must innovate their business model – through replication or through renewal. Replication means firms scale up and improve their existing business model over time, for example, McDonald’s and IKEA. Renewal involves firms bringing in a brand new, very different business model, for example, DSM, which has reinvented itself several times, and the temping agency Randstad. Chapter 2 also identifies several levers of business model innovation, the main one being new technology. Complementary levers include new managerial practices, new organizational forms, and co-creation with new partners.

Keywords:   business model renewal, business model replication, levers, technology, management, organizational forms, co-creation

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