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Please quote as: Veit, D.; Clemons, E.; Benlian, A.; Buxmann, P.; Hess, T.; Kundisch, D.;
Leimeister, J. M.; Loos, P. & Spann, M. (2014): Business Models - An Information Systems
Research Agenda. In: Business & Information Systems Engineering - Research Notes,
Ausgabe/Number: 1, Erscheinungsjahr/Year: 2014. Seiten/Pages: 45-53.
BISE – RESEARCH NOTES
Business Models
An Information Systems Research Agenda
In the context of the wide-spread digitization of businesses and society at large, the logic
inherent in a business model has become critical for business success and, hence, a focus for
academic inquiry. The business model concept is identified as the missing link between
business strategy, processes, and Information Technology (IT). The BISE community offers
distinct and unique competencies that can be harnessed for significant research
contributions to this field. Three distinct streams are delineated, namely, business models in
IT industries, IT enabled or digital business models, and IT support for developing and
managing business models.
DOI 10.1007/s12599-013-0308-y
1 MKWI Workshop on Business Models as a BISE research topic, 2012-03-01, Braunschweig (Hess 2012) and Workshop with presentations
of business model research projects of the group, 2012-10-02, Mannheim, Pre-ECIS Workshop on the Digitization in Business Models and
Entrepreneurship, Utrecht.
on demand services) which are trans- Representations: Gordijn and Akker- 3 BISE Research Perspectives on
forming consumer behavior and society mans (2001) present an e-business on- the Business Model Concept
(Tiwana et al. 2010). (3) IT support for tology (e3-value ontology) consisting of
developing and managing business mod- core concepts that are interrelated by us- The three major pillars of business model
els (e.g., modeling languages or simula- ing so-called ‘Use Case Maps’ (a scenario research in the BISE field, which have
tion) through the development of tools technique). Tapscott’s B-Webs describe a been identified in Sect. 2 based on the
for visualization, simulation, or decision network consisting of distributors, sup- literature and the initial workshops of
support (Kundisch et al. 2012). pliers, and commercial service providers the research group can be utilized to
Business model studies are uniting as well as customers that are connected structure the perspectives for the business
BISE, entrepreneurship and strategic to each other via the Web and other model concept (Fig. 2).
management research with a strong accu- electronic media (Tapscott et al. 2000).
mulation in BISE outlets, mirroring the Burkhart et al. (2012) present an ontol- 3.1 Business Models in IT Industries
interdisciplinary nature of the topic and ogy for business models in the software
the discipline (DeSanctis 2003). Exam- industry. Among the different IT sub-industries
ples are comprehensive classifications of Taxonomies: Rappa (2004) proposes a (e.g., hardware, software, telecommuni-
literature (Burkhart et al. 2011); the defi- cations), the software industry stands out
classification scheme of nine e-business
nition of business models for the software because of the specific features that dis-
models, consisting of brokerage, adver-
industry (Buxmann et al. 2012; Schief tinguish it from other industries (Bux-
tising, information intermediary, mer-
and Buxmann 2012) and their perfor- mann et al. 2012). Software products can
chant, manufacturer direct, affiliate, be reproduced at low marginal costs and
mance (Schief et al. 2012); the changes community, subscription, and utility. He
and impacts through IT-enabled business hence, the variable costs are close to
also introduces the utility business model zero. Moreover, software can be copied
models in the music industry (Steininger emphasizing the future of computer ser-
et al. 2012; Wagner et al. 2013) or in- without any loss of quality and software
vices, Osterwalder and Pigneur (2002) products can be easily changed. Soft-
ternet business models (Leimeister and derived the e-business model ontology
Krcmar 2004); and tools for representing ware markets have special characteristics,
with the aim of designing a business too. One feature is its strong internation-
business models (Kundisch et al. 2012; model.
Kundisch and John 2012). alization. Another are network effects
From a BISE perspective, several ar- which might lead to winner-takes-it-all-
A review of the literature undertaken
ticles have laid down the foundations markets. Furthermore, software markets
by Pateli and Giaglis (2004) has sum-
for research. Hedman and Kalling (2003) are continuously affected by and shaped
marized the following key definitions in
structure the components of a business through disruptive technological trends
business model research:
model within a firm with regards to such as in-memory database manage-
Definitions: Important contributions
IT and propose theoretical perspectives ment (Loos et al. 2011) or software-as-a-
were made by Timmers (1998), who un-
such as the resource-based view (RBV) service (Benlian et al. 2009; Benlian and
derstands a business model as “an archi-
for the different levels. Al-Debei and Hess 2011). From the vendor’s perspec-
tecture for the product, service and in-
Avison (2010) are building on some of tive, a number of strategies and busi-
formation flows, including a description
these ideas and develop a unified busi- ness models can be derived from these
of the various business actors and their characteristics of software products and
roles; and a description of the potential ness model framework encompassing a
definition, dimensions, functions, reach, markets. The multi-faceted nature of the
benefits for the various actors; and de- business model concept can help to ex-
scription of the sources of revenue” (p. 4) and modeling principles of the concept
through a content analysis of existing plain how these characteristics impact on
or Magretta (2002, p. 4) who describes a value creation and capture by firms.
business model as a “story that explains literature.
In addition to more generic defini- More recent research on business
how an enterprise works”. Further au- models has attracted scholarly attention
thors dealing with the definition of busi- tions of business models, a number of
definitions focus on e-business and e- (Steininger et al. 2011; Burkhart et al.
ness models are Tapscott et al. (2000), 2011). While most research focused on
Linder and Cantrell (2000), Gordijn et al. commerce. Timmers (1998) was one of
generic business models, the perspective
(2000) and Petrovic et al. (2001). the first to propose eleven types of e-
of software firms is of particular inter-
Components: Morris et al. (2005) fo- commerce business models. Besides the
est to the field of IS (Hess et al. 2012).
cus in their literature review on the con- research work on the foundations of the
The distinguishing characteristics of soft-
stituent elements of a business model by concept there are articles looking at the ware products and markets have resulted
deriving a generic business model frame- innovation of business models and their in a focus on business models in the soft-
work consisting of six key decision ar- performance. An example of such an arti- ware industry. However, similar charac-
eas. Burkhart et al. (2011) present a holis- cle on innovation shows how Xerox cap- teristics such as network effects can be
tic view on the business model con- tured value from innovations through found in the telecommunication busi-
cept by structuring the research field of moving to a new business model (Ches- ness (Zarnekow et al. 2007). In contrast,
business models. They derive a classifi- brough and Rosenbloom 2002). First we think that business models in the
cation framework consisting of 17 eval- quantitative articles on performance im- hardware business are more compara-
uation criteria and corresponding at- plications are looking at the configura- ble to those in traditional, physical in-
tributes. Further representatives dealing tion of business models (Zott and Amit dustries. We broadly categorize the re-
with business model components are Os- 2007, 2008) and are finding implica- search questions raised in the previous
terwalder and Pigneur’s (2010) Business tions that go beyond factors that can be literature on software business models
Model Canvas and Hamel (2002). explained through strategy alone. into three interconnected areas. In the
first we raise the question of identify- transformation. The majority of business analysis of the interdependences between
ing the constitutive elements of a soft- models are digital in the media indus- different channels (Forman et al. 2009).
ware business model (Rajala et al. 2003; try, the retail industry, the financial ser- A fifth stream deals with the emergence
Kontio et al. 2005; Rajala 2009; Schief vices industry, and in logistics. This is of of entirely new business models (Österle
and Buxmann 2012). Secondly, we intend course also the case for online-only (i.e. 2007; Steininger et al. 2013) of which
to identify the most prevalent classes of pure play) companies. Researchers from the discussion of the business model of
software business models (Kontio et al. the BISE community are able to identify providers of social media platforms is a
2005; Valtakoski and Rönkkö 2010; Popp new technologies early, understand the prominent example (Liang and Turban
2011; Schief et al. 2012). Thirdly, we technologies in depth and bring new ar- 2011).
aim to identify the performance implica- tifacts into the world (following the de- The first direction of research is still
tions of software business models (Rajala sign science approach). BISE researchers, very active with new technologies con-
and Westerlund 2012; Schief et al. 2012; therefore, offer distinct competitive ad- sistently being introduced into the mar-
Schief and Pussep 2013). vantages over researchers from business ket. The current focus is on ecosystems
Further research should not only build studies or economics (Osterwalder and (Burkard et al. 2012) and the changing
upon these foundations and continue Pigneur 2013). role of the customer (Reichwald et al.
to accumulate empirical evidence but The first stream of literature on dig- 2009; Leimeister 2012). Another topic
also transfer findings to other IT sub- ital business models was established in here centers on the discussion of the
industries such as hardware, networking the 1990s. This research has started on economies of intermediation, especially
and telecommunication businesses. Us- the impact of new technologies such as from a customer perspective (Matt and
ing object-oriented terminology, we see EDI on the division of labor between Hess 2012). Dealing not only with cus-
a need for the derivation of specific sub- companies, an important aspect of the tomers but with all of a firm’s stake-
classes for business models for IT firms outside perspective on a business model. holders, the business model literature on
from the generic class of business mod- Also business models of intermediaries value creation and capture is currently
els in general. The subclass would inherit were discussed at the time. A major re- attending to a range of issues including
the elements of generic business mod- sult of these efforts is the ‘move-to- how to create value in times of change
els and extend them to specific areas the-middle’ hypothesis (Clemons et al. (e.g., Zott and Amit 2012), additional
of the respective IT industry (e.g., soft- 1993). Another research stream looks value dimensions such as normative and
ware industry). The research question of into value creation and value capture en- cognitive requirements (e.g., Sach 2013),
how particular business model instantia- abled through digital business models. or how to synchronize societal and eco-
tions impact on the performance of firms Amit and Zott (2001), for example, ex- nomic value creation (e.g., Seelos and
should also be of continuing interest for amined 59 e-business models for explor- Mair 2007). In the fourth stream of re-
researchers and practitioners. Answering ing the theoretical foundations of value search on business models one focus is
these questions requires a deep under- creation. They regard value creation as currently on revenue models, for example
standing of the industry. As such, the IS a prerequisite for value capture. In this on the analysis of the premium model´s
field is particularly suitable to providing context, (Teece 2010) notes that busi- potential to increase consumer willing-
answers related to IT industries. ness models in the information and inter- ness to pay for content (Wagner et al.
net industries are particularly challeng- 2013) or the potential and acceptance
3.2 Digital Business Models ing with respect to value capture. A third of dynamic pricing in electronic com-
stream of literature deals with the role merce (Hinz et al. 2011). Other studies
A business model is digital if changes in of ICT as the driver of a new wave of are dealing with the impact that mobile
digital technologies trigger fundamental industrialization (Barua et al. 2004). A devices have on retailers (Molitor et al.
changes in the way business is carried fourth stream focuses on ICT-enabled 2012). Smartphones possess sensors that
out and revenues are generated. Venka- changes in product and service models, can digitize information on a consumer’s
traman (1994) refers to this as the fourth especially in retailing and in the media in- situational context (e.g., geographical lo-
and fifth level of IT-enabled business dustry. One typical field of research is the cation, product EAN code) and use this
information to provide consumers with provided (Teece 2010). The following ap- business models. In the long run, the
context-specific information (e.g., prices proaches have been employed for repre- corresponding business modeling tools
for this product in other stores in a con- senting business model knowledge: Infor- should clearly go beyond simple design
sumer’s vicinity, recommendations from mal text (e.g., Kshetri 2007), structured tools (see above) and evolve into an own
friends for restaurants nearby). There is text (e.g., Sosna et al. 2010), morpholog- class of high-level decision support tools
also an ongoing discussion on emerg- ical representation (Kley et al. 2011), ad (also called “Design Support Systems”,
ing business models such as location- hoc graphical representation (e.g., Kinder Osterwalder and Pigneur 2013) that draw
based advertising using the technological 2002), conceptual models with defined se- upon empirical results to improve the
possibilities of smart mobile devices or mantics and dedicated graphical repre- business model design process. More-
(mobile) technologies and enabling cus- sentations (e.g., Gordijn and Akkermans over, using these ontologies and nota-
tomers to become ‘prosumers’, i.e. pro- 2003), also called business model repre-
tions it is not unreasonable to expect that
ducers and consumers of information sentations (BMRs) (Zott et al. 2011).
one of the outcomes could be the au-
services (Resatsch et al. 2008). One ques- Morphological and dedicated graphi-
tomatic translation of designed business
tion is whether there will be a mar- cal representations allow for a consis-
tent and traceable representation of busi- models into consistent processes, services
ket for companies offering large amounts and enterprise models.
of consumer data that combine (anony- ness models and have been character-
mous) online profiles (e.g., clickstream ized as one major theme in digital busi-
data) with consumers’ offline behavior ness model research (Zott et al. 2011).
and the current user context (e.g., geo- A number of diverse approaches have 4 A Research Agenda for BISE
graphical location, content of website ac- been proposed (Kundisch et al. 2012) Based on the Three Pillars
tive in browser etc.) for every customer to which several advantages have been
point of contact. attributed, including facilitating tasks We propose the following agenda
A new field of research on digital such as understanding and communicat-
for business model research in BISE
business models is currently developing ing about a business model (Osterwalder
(Table 1). For each of the three per-
around the enrichment of established et al. 2005), innovating a business model
spectives identified above, we outline
products or production systems. In Ger- (Chesbrough 2010), and deducting re-
quirements for the IS that support the (a) relevant and open research ques-
many this is being discussed under the tions, (b) theoretical foundations and
business model (Penker and Eriksson
term ‘Industry 4.0’. Questions related to (c) possible methodological approaches
2000). However, existing BMRs greatly
this topic are very broad. One interest- for solving these research questions. Fur-
differ and to some extent contradict each
ing field is concerned with the pricing thermore, we outline opportunities for
other. Hence, synthesizing and further
of hybrid bundles. For example, product interdisciplinary research.
developing BMRs could lead to business
service systems (PSS) are a specific form In relation to business models in the
model research becoming more cumula-
of hybrid products which apply a ser- tive in nature, and to effect a more ef- IT industries the following research ques-
vice dominant logic to products (Vargo ficient transfer of research results into tions emerge as particularly promising:
and Lusch 2008), usually consisting of a practice, as a result of more successful What do optimal and future revenue
bundle of IT services and human services business models in general. models and pricing strategies look like?
(Berkovich et al. 2011). Interesting exam- Furthermore, morphological represen- What represents an optimal degree of
ples are, e.g., printing solutions or manu- tations and BMRs are needed to enable vertical integration for IT vendors? How
facturing solutions in the B2B area, where computer-aided business design tools do business models change if we consider
some former hardware manufacturers (Osterwalder et al. 2005). The tools cur- the transition from ‘on premise’ to ‘on
have now turned into equipment opera- rently available are still in their infancy demand’ usage? Which kind of cooper-
tors, offering pay-per-use pricing mod- and largely restricted to facilitating the
els. Key research challenges are around ation as well as M&A strategies seem to
visualization of a business model and at be profitable in the IT industry? How can
different ways of creating and captur- most provide rudimentary support for
ing value with PSS. These specific exam- customer data be included into business
financial calculations (e.g., e3-value ed-
ples also underline the ambiguity of the models of IT vendors? These research
itor,2 Business Model Toolbox3 ). A no-
term as well as the necessity to foster questions could be addressed for example
table exception is the Business Model
terminological homogenization. in the form of cases, laboratory and/or
Wizard,4 which is intended to comprise
functionality for integrating market data field experiments in order to test the rel-
3.3 IT Support for Developing and to evaluate a business model and de- ative importance of different character-
Managing Business Models ducing process models from a developed istics or elements of/in business models
business model (Di Valentin et al. 2012). such as pricing schemes, scalability, or
Even today the business model concept Results to be expected in this stream of customization.
still defies easy conceptualization. With- research include the validation of concep- In the area of digital business models,
out a proper, theory-based conceptual- tual models comprising graphical repre- promising research questions could for
ization and formalization, however, ad- sentations (generic as well as domain- example relate to the proactive role of
equate IT support for developing and specific ones) that help industry prac- consumers as providers of contents, ideas
managing business models can hardly be titioners to capture and innovate their and social recommendations. How can
2 http://www.e3value.com/.
3 http://www.businessmodelgeneration.com/toolbox/.
4 http://www.software-business-model.com/.
Business models in IT industries Digital business models IT support for business models
Research questions ! Elements and types/classes of ! Monetization of proactive ! Semantic foundation and
IT business models (social) consumers appropriate syntax for business
! Formation and adoption of IT ! Mobile business models model representations
business models ! New product and service ! Use of graphical
! Performance implications models: hybrid bundles representations in the business
! Industrialization of business model development process
models
Theories ! Adoption and diffusion ! Consumer behavior ! Cognitive fit theory (for the
theories ! Microeconomics syntax)
! Entrepreneurship/innovation ! Organizational behavior ! Bunge-Wand-Weber ontology
theories (for the semantics)
! Organizational behavior ! Boundary object theory (for
! New institutional and the pragmatics)
behavioral economics
Exemplary research ! Empirical (quant. and qual.) ! Empirical (quant. and qual.) ! Reference/meta modeling
methods ! Experimental (field and lab) ! Experimental (field and lab) ! Experimental, field and case
incl. prototype testing incl. prototype testing studies
! OR/simulation studies ! Design science
! Hierarchical linear modeling ! Heuristic and mathematical
(HLM) programming methods
the proactive role of consumers be mon- method. Regarding morphological anal- into IT, for identifying potentials of IT
etized via business models? Which com- ysis there is a lack of established meth- in order to create new business models
ponents of social media (e.g., support- ods to identify relevant parameters and and for designing and operating IT-based
ing the social activities of consumers) values and evaluate the resulting frame- business processes. Nevertheless, inter-
should form the core of a successful so- works. Furthermore, one avenue for fu- disciplinary cooperation with other re-
cial commerce business model? How can ture research would be to develop soft- search disciplines such as strategy, inno-
ICT enable value creation for all stake- ware tools that can meaningfully support vation management, entrepreneurship or
holders along the lines of business model the use of graphical and morphological marketing would be highly appreciated.
content, governance and structure? How representations (e.g., for brainstorming, Through joint workshops and tracks at
could one best exploit the opportuni- design, economic analysis, process model national and international conferences
ties created by mobile internet access generation, simulation) and integrate re- (e.g., MKWI 2012, WI 2013, ECIS 2013,
and location-based services in mobile search results regarding the performance MKWI 2014, ECIS 2014) and special is-
business models? These questions could of business models (e.g., knowledge of sues in journals, (e.g., ISJ Special Is-
be addressed for example using theories business model patterns or success fac- sue on Digitization in Business Mod-
of consumer behavior (from marketing, tors). Finally, regarding the interface with els and Entrepreneurship, Clemons et al.
psychology and economics) as well as or- adjacent disciplines such as process mod- 2013) the authors have in fact already
ganizational behavior theories. To study eling or enterprise modeling, more work started to foster cooperation beyond dis-
such questions, researchers may draw on is needed to extend the preliminary con- ciplines and across national borders (e.g.,
empirical research methods such as case tributions in this field (vom Brocke et al. Adamantia Pateli, Jonas Hedman, Eric
studies and surveys, or they may un- 2011; Burkhart et al. 2012; Iacob et al. Clemons and Christoph Zott) as sug-
dertake experimental evaluations of pro- 2012). gested in recent research (e.g., Oster-
totypes that test hypotheses on specific The business model concept thus pro- walder and Pigneur 2013). This prepares
components of digital business models. vides the missing link between strat- the path for significant theoretical con-
The combination of these theories and egy and business process implementa- tributions in understanding underlying
methods provides promising opportuni- tion, and its relationship to IT is key to mechanisms and phenomena of business
ties for interdisciplinary research from an understanding, designing and leveraging model success and failure as well as the
IT perspective. the business models and organizations of discovery of novel coherences between
In the field of IT support for busi- the future. It provides a new field of re- influencing factors on business model
ness models, promising research ques- search for the BISE community that can performance contingencies. Understand-
tions concern the semantic foundation serve as a promising anchor term to clus- ing, explaining, predicting and design-
and appropriate syntax for BMRs as well ter future research in the BISE field. Al- ing IT-based business models holds im-
as their effective pragmatic use in the though other research disciplines such mense contributions to both research
business model development process. For as strategic management, entrepreneur- and the business community. The BISE
instance, the syntax of a specific BMR ship and marketing have started to take community is predestined to accompany
could be evaluated with reference to the up this topic, we believe that BISE re- the all-encompassing digitization in en-
cognitive fit theory, using experimen- searchers offer distinct and unique com- terprises and society and to disseminate
tal studies as an appropriate research petencies for translating business models their insights to an interested public.
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