Business Model Concept: An Integrative Framework Proposal

CITATION

Perić, M., Vitezić, V., & Ðurkin, J. (2017). Business Model Concept: An Integrative Framework Proposal. Managing Global Transitions, 15(3), 255–274.

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ABSTRACT
Every firm employs a particular business model seeking competitive advantage.
However, this pursuit is difficult, and sometimes unsuccessful.
The reasons for failure should be sought in the managers’ lack of understanding
of their organisations’ business models, their unique building
blocks, and the potential that they have. To help managers better understand
business models, this paper reviews the extant literature and identifies
the elements of business models cited therein. Further, considering
the new needs on the changing markets and the prevailing search for sustainability
beyond profit, this paper portrays essential business model elements
in an integrated framework. An updated generic business model
framework consists of four primary categories, namely, value proposition,
value capture, value creation, and value network, and could be useful for
a variety of organisations, profit and non-profit, with various mission and
vision orientations and interaction with the environment.


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