In this chapter, I use the business model construct to predict how companies’ architectures and business model development processes will evolve into the future.Ī business model is a structured blueprint which attempts to bring order and discipline to the chaotic process of building, growing and operating a business. They are also used by established companies to plan, develop and support their innovation process. Business models are often used by startups as modeling tools to help them design, prototype and build their new ventures. The business model construct encompasses the product or service, the customer and market, the company’s role within the value chain, and the economic engine that enables it to meet its profitability and growth objectives. What is a Business Model?īusiness models are stylized models that describe how companies create and deliver value to their customers, and how they get rewarded for doing that. Producers increasingly engaging in marketplace selling and data-driven innovations.Īt the same he believes that traditional forms of innovation will continue to remain key differentiators, and that underlying business models will require continuous innovation which will likely take a traditional form, with breakthrough products still continuing to require traditional forms of innovation. Value chain coordinators matching supply and demand, assembling customized solutions and engaging in electronic customer-data-driven innovation. To this end he envisions scenarios such as:Ĭustomer intimacy agents being customers’ digital representatives in the marketplace, using data to find and solicit solutions that will make them better off. He argues that the combined effect of mobile technologies, wearable devices and sensors, cloud computing, and “Big Data” technologies will refine the structure of future business models. Taking a long-term view, he sees information technologies continuing to evolve along their current performance trajectory. Professor Haim Mendelson addresses the evolution of business models while considering the huge impact of the advances in information technology.
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