Browsing by Author "Kuhn, J. Wouter"
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- ItemA business model innovation framework for capturing white space opportunities(Stellenbosch : Stellenbosch University, 2018-03) Kuhn, J. Wouter; Louw, Louis; Stellenbosch University. Faculty of Engineering. Dept. of Industrial Engineering.ENGLISH ABSTRACT: Business models and business model innovation (BMI) have been receiving increasing attention in recent years, from both academics and practitioners. BMI is crucial for any business to stay competitively relevant. Yet, few businesses understand its dynamics. Different perspectives still exist around what constitutes a business model, as well as what BMI is and how it should be executed. Similarly, white space opportunities are often avoided due to a lack of understanding and reliable capturing processes. A concrete understanding of present capabilities, along with methodological tactics to assess the requirements of a business model from new opportunities, result in the tough job of mapping a white space sensibly and making it practicably manageable. White space opportunities, defined as the range of potential activities not defined or addressed by the company’s current business model, that is, the opportunities outside its core and beyond its adjacencies that require a different business model to exploit, can bring about excellent transformational growth within an organisation and reveal new revenue streams. Thus, it should be viewed as an opportunity which should be pursued, rather than be an unfamiliar opportunity that is often avoided. A comprehensive literature review was conducted focusing on business model structures, BMI processes and frameworks, as well as white space opportunities. Related fields of study were also explored: innovation and innovation management, strategy, opportunity identification and opportunity analysis. A gap in the existing body of knowledge on BMI frameworks was identified as current BMI frameworks namely: (a) do not sufficiently address the concept of white space opportunities, (b) lack design guidelines supporting its execution on lower component levels, (c) incorporate limited decision-making structures, and (d) often have a lack of tools in context of where it is required or useful. The main objective of this study was therefore to develop a well-structured and comprehensive white space BMI framework. This framework contains suitable processes, tools and design guidelines, all of which support companies through the decision-making process in identifying white space opportunities and developing an innovative business model. The study used the literature analysis as well Delphi approach (involving various industry and academies experts), to identify and validate suitable design guidelines for the BMI process. The inputs from the literature analysis and experts were combined to develop a comprehensive framework, which can reliably guide managers through the BMI process of identifying a white space opportunity and then developing an innovative business model for that opportunity. The application of the entire framework is specifically aimed at larger, settled businesses - where a structured approach is more important. The framework was successfully validated through a survey involving various industry and academic experts. Positive feedback was received regarding the genericity, usefulness, practicality and comprehensiveness of the framework. Valuable inputs were also obtained and incorporated, to improve the logic, flexibility and quality of the developed framework. This framework makes a significant contribution towards the current body of knowledge about BMI for white space opportunities, by providing a better understanding of how white space opportunities can be systematically identified, as well as clarifying the process required to develop innovative business models for such opportunities. The identification of key design guidelines for the design process is also a useful contribution.