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The Classification of Business Model from the Value Network Perspective : Evidence from the Modern Service Industry. (English)

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    • Abstract:
      With the blurring of the boundary among industries and with the integration of the traditional manufacturing and the modern service industries, the traditional research of business models has been shifted from the value chain to the trans-industry value network. From the perspective of value network, the business models in different companies have fundamentally changed. Lots of new business models are emerging, of which the modern service industry is the most prominent one. This article focuses on a type of business model research from the new perspective. First of all, it builds an analytical framework of business models from the value network perspective. This analytical framework consists of four elements and seven sub-elements. The four elements are value proposition, value creation, value capture and value realization. The seven sub-elements are value proposition, customer interface, market infrastructure configuration, governance model, isolation mechanism, revenue model and cost structure. This framework develops the previous ones in that it is based on the transmission of value. Secondly, this article focuses on the modern service industry which has witnessed frequent innovations in business models, and is therefore more likely to produce meaningful and representative results. 62 listed companies are selected from the Growth Enterprise Market (GEM) of China for the validity and authenticity of the data, but also because the study of their open texts and materials is a primary method of research. Thirdly, the open texts and materials of the sample companies are categorized and coded, and questionnaires are designed for experts according to our analytical framework. The experts evaluate and score these 62 companies in terms of the confidence data. Their scoring is then subjected to clustering analysis of the computer. The results of the analysis break the 62 companies down into six types, namely, the long tail business model, the multi-sided platform business model, the free business model, the unbundling business model, the secondary innovation business model and the systematic business model. Finally, we select one typical company from each type for descriptive analysis. The analytical framework of business models as proposed in this article is based on the value network perspective and integrates with the modern service industry. It contributes to the development of the type theory of business models and to the development of modern service companies. It is also a successful attempt in terms of methodology as it combines management science with computer science and applies the quantitative method to the explanation of issues and problems in management. Limitations of this paper include the inadequate number of sample companies in our database due to the establishment of the Chinese GEM. [ABSTRACT FROM AUTHOR]
    • Abstract:
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