New framework revolutionizes business models for networked economies.
The article introduces a framework for business models in business value networks. It aims to clarify the concept of business models in networked economies and identify key elements for companies in these networks. The researchers analyzed existing definitions of business models and characteristics of business value networks to develop a framework comprising five pillars: value creation, partners, value offering, customers, and profit. Key components include value configuration, core competencies, target customers, revenue models, and cost structures.