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Business Model Concept: An Integrative Framework Proposal

Marko Peric, Vanja Vitezić () and Jelena Durkin
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Marko Peric: University of Rijeka, Croatia
Jelena Durkin: University of Rijeka, Croatia

Managing Global Transitions, 2017, vol. 15, issue 3 (Fall), 255-274

Abstract: Every firm employs a particular business model seeking competitive advantage. However, this pursuit is difficult, and sometimes unsuccessful. The reasons for failure should be sought in the managers’ lack of understanding of their organisations’ business models, their unique building blocks, and the potential that they have. To help managers better understand business models, this paper reviews the extant literature and identifies the elements of business models cited therein. Further, considering the new needs on the changing markets and the prevailing search for sustainability beyond profit, this paper portrays essential business model elements in an integrated framework. An updated generic business model framework consists of four primary categories, namely, value proposition, value capture, value creation, and value network, and could be useful for a variety of organisations, profit and non-profit, with various mission and vision orientations and interaction with the environment.

Keywords: business model; value proposition; value creation; value capture; value network (search for similar items in EconPapers)
JEL-codes: L26 M10 (search for similar items in EconPapers)
Date: 2017
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DOI: 10.26493/1854-6935.15.255-274

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