"Research is creating new knowledge." – Neil Armstrong
Over the last decade, research interest in business models has grown exponentially, both in the industry and academia. Research has shown that business model innovation can increase competitive advantage in different firms and organizations. However, the concept and building blocks of a business model still have very diverse interpretations.
In order to address this gap, Bin Gao, Shaofeng Liu, Genhua Pan and Aira Ong have completed a systematic literature review entitled “Concept and Building Blocks of Business Model: A Systematic Literature Review”, which was presented during the 2019 The 6th International Conference on Economics, Society and Management (ICESM 2019) last 02-04 August 2019 in Madrid, Spain. This research was done as a collaboration of the BBDiag and AiPBAND Projects.
Abstract—Business model has been drawing attention from. It plays a crucial role in business operations and strategy. In the revolutionary and competitive environment, business model innovation is likely to lead to better business performance. However, there have been diverse interpretations on the concept and building blocks of a business model. The purpose of this paper is to provide some common understanding on the concept and its core building blocks in order to progress to the development of an innovative business model. A systematic literature review has been undertaken to gain insights into the key themes of the topic, before some recommendations for further business model development are made.
ICESM brought together researchers, scientists, engineers, and scholar students who exchanged and shared their experiences, new ideas, and research results about all aspects of Economics, Society and Management, and discuss the practical challenges encountered and the solutions adopted. One of the keynote speakers was Prof. Shaofeng Liu, one of AiPBAND and BBDiag supervisors, presented a keynote talk entitled “Business Model Innovation: Challenges and Implications for Healthcare Service”.
ICESM 2019 participants and conference materials.
The paper will be published in the Journal of Economics, Business and Management (JOEBM), which is an international academic open access journal which gains a foothold in Singapore, Asia and opens to the world. It aims to promote the integration of economics, business, and management.