| dc.description.abstract | As business model centered research has grown significantly over the last decade, the focus has primarily been on establishing an initial understanding of the construct. Much of the existing research has focused on defining business models, yet recent research continues to highlight the lack of common understanding of the nature of business models. In this study, I examine the theoretical foundations of business models and the extent to which each contribution is found within current research through an in-depth analysis of current business model research. Four dimensions of business models are identified and found to present in business model research over 70% of the time. However, recent reviews continue to highlight the continued lack of understanding of the construct alluding to the notion that there is more to business models than the four commonly cited dimensions of structure, value creation, value capture and value networks. Employing the framework of gestalt theory, I propose an additional dimension of business models, opportunity alignment which helps explain how the four foundational dimensions work together to establish clearer understanding of the nature of business models. These theoretical foundations are manifest as key foundational dimensions of business models. The dimensions most commonly identified are structure, value creation, value capture, value networks and the more recently identified dimension of opportunity alignment. I test the extent to which these five dimensions are found within the business models of actual early stage entrepreneurial ventures. I employ an in-depth case study method to assess and understand the nature of the business models of eight real world ventures. The findings provide evidence of the existence of the five dimensions identified from existing literature as well as yield insights into how each dimension is manifest within and contributes to the overall business model. As business model research continues to develop, a growing debate centers on the nature of business models. Within this debate, two perspectives are central: the more fixed blueprint perspective and the dynamic perspective of business models. I examine the presence of the key dimensions of business models which make up each perspective and their impact on new venture outcomes. Additionally, I examine how such factors as a venture\'s technology and the nature of the venture\'s market impact the relationships between these competing perspectives and venture outcomes. I test these relationships with a sample of early stage technology ventures. The results indicate that both the blueprint and the dynamic perspective both have a significant impact on venture outcomes. The findings also provide insight into how factors such as venture\'s technology and market moderate the relationship between the dynamic perspective and venture outcomes. | |
