Designing new business models: Blue sky thinking and testing

Wrigley, Cara, Bucolo, Sam, & Straker, Karla (2016) Designing new business models: Blue sky thinking and testing. Journal of Business Strategy, 37(5), pp. 22-31.

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Abstract

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.

Impact and interest:

1 citations in Scopus
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ID Code: 99634
Item Type: Journal Article
Refereed: Yes
Additional URLs:
Keywords: Design, Innovation, Case study, Business model, Business model canvas, Meta-models
DOI: 10.1108/JBS-04-2015-0041
ISSN: 0275-6668
Subjects: Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > DESIGN PRACTICE AND MANAGEMENT (120300) > Design Practice and Management not elsewhere classified (120399)
Divisions: Current > Schools > School of Design
Current > QUT Faculties and Divisions > Creative Industries Faculty
Copyright Owner: 2016 Emerald Group Publishing Limited
Deposited On: 04 Oct 2016 01:35
Last Modified: 04 Oct 2016 21:34

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