We highlight business model innovation as a way for general managers and entrepreneurs to create and appropriate value, especially in times of economic change. Business model innovation, which involves designing a modified or new activity system, relies on recombining the existing resources of a...

The paper provides a broad and multifaceted review of the received literature on business models, in which we attempt to explore the origin of the construct and to examine the business model concept through multiple disciplinary and subject-matter lenses. The review reveals that scholars do not...

Building on the received literature, we conceptualize a firm's business model as a system of interdependent activities that transcends the focal firm and spans its boundaries. The activity system enables the firm to create value in concert with its partners but also to appropriate a share of the...

This paper investigates strategies for value creation of e-commerce companies. Our main assumption is that e-commerce fundamentally affects the way business is conducted across many industries. To support this insight, we discuss the unique characteristics of 'virtual markets' brought on by the...

"The emergence of business model innovation as a key strategic issue that both founders of new firms and senior managers of incumbent firms need to address has created a teaching need in business schools. Yet, as of now, there is no book on the market that provides systematic and focused course...