The Role of Business Models in the Development of New Technology-Based Firms

Oleksiy Osiyevskyy (), Mark Chernenko and Vladyslav Biloshapka
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Oleksiy Osiyevskyy: University of Calgary
Mark Chernenko: Kyiv National Economic University named after Vadym Hetman
Vladyslav Biloshapka: Kyiv National Economic University named after Vadym Hetman

A chapter in Technology Entrepreneurship, 2018, pp 49-68 from Springer

Abstract: Abstract In the process of development of new technology-based firms (NTBFs), the crucial role belongs to establishing an effective and efficient business model to deploy the focal technology in a sustainable way. As such, it becomes clear that the business model design and testing/validation become the essential parts of a startup process; yet, so far, the topic of the business model in the context of NTBFs has received insufficient attention in the literature. Drawing on the basic theoretical and empirical insights from entrepreneurship and strategy research, this chapter scrutinizes the topic of the ontological nature of a firm’s business model within the NTBF context, and its relatedness and distinction from strategy, technology, and innovation. From definitional issues, we proceed to discussing the role of the business model in the process of development of NTBFs. Then, we summarize the available empirical material to formulate the most frequently occurring problems with new ventures’ business models that prevent their development, paying particular attention to ways of preventing and dealing with such problems. The developed conceptual framework of business model-related NTBF challenges is illustrated and corroborated with the mini-cases of technology ventures.

Keywords: Business model; Key customer; Business model innovation; Technology-based firms; Business value; Customer value; Value matrix; Efficiency; Effectiveness (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:fgfchp:978-3-319-73509-2_3

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DOI: 10.1007/978-3-319-73509-2_3

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