Digital business models: an evolutionary perspective on how digital technologies shape ecosystems

Marco Balzano, Andrea Ciacci and Giacomo Marzi

Chapter 3 in Digital Entrepreneurship in Science, Technology and Innovation, 2024, pp 66-90 from Edward Elgar Publishing

Abstract: Business models occupy a central position in the management debate. With the rise of digital technologies, firms had the opportunity (and also the necessity) to reconfigure their business models to deal with such an evolving environment. Firms approach the ‘digital’ differently. Sometimes, they respond to evolutionary needs, while, in others, they view the digital realm as an opportunity to acquire market dominance. The purpose of this chapter is to examine the role of digital technologies in shaping business ecosystems and provide an evolutionary perspective on the shift of business models towards the digital paradigm. Adopting a strategic orientation towards the ecosystem leads to the implementation of digital solutions and innovative business practices. This approach requires proactive leadership and participation in ecosystem orchestration, competitive performance, decision-making, process optimization, and the development of consumer solutions to enter profitable markets. In this study, the authors conduct an overview of prior research on digital business models, sampling articles from established journals in the management literature. The review is organized chronologically to provide insights into the research evolution on this topic. Finally, they draw conclusions from the analysis, acknowledge key limitations, and outline implications and future research directions.

Keywords: Business and Management; Economics and Finance; Innovations and Technology; Sociology and Social Policy; Sustainable Development Goals (search for similar items in EconPapers)
Date: 2024
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