Designing new business models: blue sky thinking and testing

Wrigley, C; Bucolo, S; Straker, K

Designing new business models: blue sky thinking and testing

Wrigley, C

Bucolo, S

Straker, K

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Publication Type:: Journal Article
Citation:: Journal of Business Strategy, 2016, 37 (5), pp. 22 - 31
Issue Date:: 2016-01-01

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Field	Value	Language
dc.contributor.author	Wrigley, C https://orcid.org/0000-0001-7349-8469	en_US
dc.contributor.author	Bucolo, S https://orcid.org/0000-0002-4195-4500	en_US
dc.contributor.author	Straker, K	en_US
dc.date.issued	2016-01-01	en_US
dc.identifier.citation	Journal of Business Strategy, 2016, 37 (5), pp. 22 - 31	en_US
dc.identifier.issn	0275-6668	en_US
dc.identifier.uri	http://hdl.handle.net/10453/54912
dc.description.abstract	© 2016, © Emerald Group Publishing Limited. Purpose: In what is going to be an uncertain and rapidly evolving global economic landscape, it is clear that firms will have to become more adaptive and responsive to changes within their marketplace. To do this, businesses will not only need to engage in business model experimentation but also look to embrace business model innovation as a core competency and a means for sustained competitive advantage. Design/methodology/approach: This paper outlines how a design process of experimenting and prototyping can apply to the design of business models through the case study of hypothetical luggage company Packright. Findings: Five meta-models with differing foci are illustrated as an accessible and provoking framework that provides a new logic to classifying, experimenting and prototyping business model designs. Practical implications: These five meta-models provide a tangible starting point from which a business can begin to explore different perspectives and gain insights into the internal and external capabilities of their company. Originality/value: This paper builds upon the emerging research and exploration into the importance and relevance of dynamic, design-driven approaches to the creation of innovative business models.	en_US
dc.relation.ispartof	Journal of Business Strategy	en_US
dc.relation.isbasedon	10.1108/JBS-04-2015-0041	en_US
dc.subject.classification	Business & Management	en_US
dc.title	Designing new business models: blue sky thinking and testing	en_US
dc.type	Journal Article
utslib.citation.volume	5	en_US
utslib.citation.volume	37	en_US
utslib.for	1503 Business and Management	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/DVC (International)
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	/University of Technology Sydney/Strength - DIRC - Design Innovation Research Centre
utslib.copyright.status	open_access
pubs.issue	5	en_US
pubs.publication-status	Published	en_US
pubs.volume	37	en_US

Abstract:

© 2016, © Emerald Group Publishing Limited. Purpose: In what is going to be an uncertain and rapidly evolving global economic landscape, it is clear that firms will have to become more adaptive and responsive to changes within their marketplace. To do this, businesses will not only need to engage in business model experimentation but also look to embrace business model innovation as a core competency and a means for sustained competitive advantage. Design/methodology/approach: This paper outlines how a design process of experimenting and prototyping can apply to the design of business models through the case study of hypothetical luggage company Packright. Findings: Five meta-models with differing foci are illustrated as an accessible and provoking framework that provides a new logic to classifying, experimenting and prototyping business model designs. Practical implications: These five meta-models provide a tangible starting point from which a business can begin to explore different perspectives and gain insights into the internal and external capabilities of their company. Originality/value: This paper builds upon the emerging research and exploration into the importance and relevance of dynamic, design-driven approaches to the creation of innovative business models.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/52801