Business Model Experimentation: What is the Role of Design-Led Prototyping in Developing Novel Business Models?

Sabine Brunswicker (), Cara Wrigley () and Sam Bucolo ()
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Sabine Brunswicker: Fraunhofer Institute for Industrial Engineering
Cara Wrigley: Queensland University ofTechnology
Sam Bucolo: University of Technology

Chapter Chapter 13 in The Experimental Nature of New Venture Creation, 2013, pp 139-151 from Springer

Abstract: Abstract Recently, ‘business model’ and ‘business model innovation’ have gained substantial attention in management literature and practice. However, many firms lack the capability to develop a novel business model to capture the value from new technologies. Existing literature on business model innovation highlights the central role of 'customer value'. Further, it suggests that firms need to experiment with different business models and engage in 'trail-and-error' learning when participating in business model innovation. Trial-and error processes and prototyping with tangible artifacts are a fundamental characteristic of design. This research explores the role of design-led innovation in facilitating firms to conceive and prototype novel and meaningful business models. It provides a brief review of the conceptual discussion on business model innovation and highlights the opportunities for linking it with the research stream of design-led innovation.

Keywords: Business Model Prototype; Business Value Proposition; Business Model Innovation Literature; Design-driven Innovation; Improve Production Flexibility (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:innchp:978-3-319-00179-1_13

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DOI: 10.1007/978-3-319-00179-1_13

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