Search results for "New business development"
showing 8 items of 28 documents
The business plan as a project: an evaluation of its predictive capability for business success
2012
Although there is extensive research aimed at identifying the main success factors for new ventures, efforts directed at evaluating the real effect of the existence and quality of a business plan on a firm's survival chances have been limited. This study attempts to fill this gap by analyzing to what extent the quality of a business plan, measured according to its economic, financial and organizational viability, constitutes a good predictor of business survival; and how other variables related to the characteristics of the entrepreneur and the business can affect the predictive capability of the model under consideration. Hypotheses are tested using data collected from 2142 service firms. …
The Role of Business Models in Developing Business Networks
2008
Business models have received a substantial amount of interest recently. Also, various research studies have discussed business models, especially in the context of a single company operating in mass markets. Unfortunately, these models often are not applicable for complex products or services that build on long-term knowledge about customer tastes, facilities, and skills. Especially on global markets, the asset specificity and vast geographical distances make it difficult for any single company to provide this kind of service cost-efficiently on a large scale. Instead, it calls for cooperation among multiple firms. Creation of a joint business model for a collaborative network is a necessa…
Joint Development of Novel Business Models
2006
Changing competitive environment forces companies to innovate and renew their business models towards a more value-adding and customer-centric direction. Often, a prerequisite for this is that the companies are willing to combine their capabilities by co-operating and creating long-term strategic networks with each other. The formation of networks is a cyclical learning process, along which the infrastructure and strategies emerge incrementally through mutual adjustment. We analyze such network formation process among three companies that are operating in separate but complementary industries. They are seeking to expand their service offering through the use of ICT. We reflect upon this dev…
A dynamic business modelling approach to design and experiment new business venture strategies
2018
Abstract Business Modelling has evolved as a key activity to reflect new business venture strategy by framing the way a firm will operate and how it will function in achieving its goals (e.g., profitability, growth, innovation, social impact). However, scholars and practitioners have criticized the adoption of a too static perspective in the design and use of conventional Business Model representations. Such a static perspective prevents nascent entrepreneurs experimenting with their Business Models and, as a result, identifying the most effective strategies, especially in terms of business sustainability and profitability. In this paper, we argue that combining conventional Business Model …
Altruism in business – an empirical study of philanthropy in the small business context
2012
PurposeThe purpose of this study is to examine corporate philanthropy from the perspective of small business owner‐managers to find out whether there is room for altruism in business life.Design/methodology/approachThis study is based on 25 thematic interviews with small business owner‐managers. The data analysis is based on a method of qualitative content analysis.FindingsBased on the analysis, it is shown that reactivity, an emphasis on personal interests, the willingness to utilize philanthropy as part of marketing and lack of planning are typical of philanthropy in the small business context. Small businesses often emphasize strategic business reasons as the main motive for their philan…
Ecosystem Under Construction: An Action Research Study on Entrepreneurship in a Business Ecosystem
2012
In recent years, we have seen increasing interest in new service concepts that take advantage of the capabilities of business ecosystems instead of single companies. In this article, we describe how a business ecosystem begins to develop around a service business idea proposed by an entrepreneur. We aim to recognize the different domains of players that are or should be involved in the ecosystem while it is under construction. The article concludes with an ecosystem model consisting of six sub-ecosystems having different change drivers and clockspeeds. All great things are based on a series of small things, and all the small things need hard work.
Innovation development to new business in incumbent firms : a case study on the pharmaceutical companies in Finland
2016
This thesis examines new business development in incumbent firms in market environment that is changing faster than ever before. The framework of this study, model to the new business development, is created at the literature re-view part of this study and it is tested for incumbent pharmaceutical companies in Finland. Model enables to study differences between traditional and new businesses in incumbent firms, innovation process for new business develop-ment and business ecosystem structure of incumbent firm. The goal of the re-search is to identify ways of incumbent firms to develop new business to be able to compete against more agile companies. Technological development has enabled new …
Corporate business model transformation and inter-organizational cognition: the case of Nokia
2013
This article distinguishes between a firm’s corporate business model and business models of its various business units. Our aim is to provide new insights into how executives’ cognitive processes can influence corporate business model transformation decisions. We focus especially on top managers’ recognition of inter-organizational cognitions, that is, such cognitions about the firm and its businesses that are shared by the top managers and stakeholders of the firm in the industries and communities where it operates. We support our theoretical work with an historical case study of Nokia’s corporate business model transformation between 1990 and 1996, which proved highly successful. We find …