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1、LongRangePlanning--(2013)---e---http://www.elsevier.com/locate/lrpDynamicsofBusinessModelseStrategizing,CriticalCapabilitiesandActivitiesforSustainedValueCreationLeonaAchtenhagen,LeifMelinandLuciaNaldiMuchprogresshasbeenmaderecentlyindevelopingthebusinessmodelco
2、ncept.However,oneissueremainspoorlyunderstood,despiteitsimportanceformanagers,policymakers,andacademicsalike,namely,howcompanieschangeanddeveloptheirbusinessmodelstoachievesustainedvaluecreation.Companieswhichmanagetocreatevalueoverextendedperiodsoftimesuccessfu
3、llyshape,adaptandrenewtheirbusinessmodelstofuelsuchvaluecreation.Drawingonfindingsfromaresearchprogramoncontinuouslygrowingfirms,thispaperidentifiesthreecriticalcapabilities,namelyanorientationtowardsexperimentingwithandexploitingnewbusinessopportunities;abalanc
4、eduseofresources;aswellasachievingcoherencebetweenleadership,culture,andemployeecommitment,togethershapingkeystrategizingactions.Moreover,weillustratehoweachofthesecapabilitiesissupportedbydifferentsetsofspecificactivities.Jointly,thesethreecapabilities,theiract
5、ivitiesandthestrategizingactionsactascomplementar-itiesforvaluecreation.Weconcludethepaperbysuggestingimplicationsforresearchandpractitioners,providingatoolformanagerswhichallowsthemtoreflectonandidentifycriticalissuesrelevantforchanginganddevelopingtheirbusines
6、smodeltosustainvaluecreation.Ó2013ElsevierLtd.Allrightsreserved.IntroductionSincetheinitialacademicinterestinthebusinessmodelsofneweconomyventures,muchprogresshasbeenmadeindevelopingthebusinessmodelconcept.Recentprogressintheconceptualdevel-opmentfollowsthepract
7、icalinsightthatbusinessmodelsneedtochangeovertimeiffirmsaretoachievesustainedvaluecreation.Inparticular,ithasbeenrealizedthatcompanieswhichhavebeensuccessfulforsometimeruntherisktofailiftheycontinuedoingfortoolongwhatusedtoberight,withoutadaptingtheirbusinessmode
8、ltochangesinthecompetitivesituation(DozandKosonen,2010).Sustainedvaluecreationinsteadreliesonsuccessfullyshaping,adaptingandre-newingtheunderlyingbusinessmodeloftheco