IDEAS home Printed from https://ideas.repec.org/a/bjz/ajisjr/2564.html
   My bibliography  Save this article

Business Models of Chinese Firms Impacted by the Crisis Based on Case Studies

Author

Listed:
  • Zhongshu Lin
  • Xueyao Li
  • Yeng Wai Lau
  • Wei Theng Lau
  • Sabarina Mohammed Shah

Abstract

The Covid-19 pandemic has hit businesses extremely hard. Because of reduced social contact, many business models (BMs) have been limited, and some have become unviable. In the current external crisis, timely BM changes are crucial for more effective responses to challenges of critical importance. Based on the resource-based view theory, this study adopts a multi-case study approach to investigate the core competencies demonstrated by firms in different industries in adjusting to the external environment. Integrating and adapting existing BMs to form new BMs presents significant differences in operational outcomes between firms. This study focuses on the response and development of firm crisis management during the Covid-19 pandemic. Successful BM can enable firms to survive the crisis and even achieve improvement in the crisis. In addition, this paper distinguishes between business model innovation (BMI) and business model adaptation (BMA) at the theoretical and substantive levels, mainly from the perspective of firm value, including value proposition, value creation, value capture and value transfer, to differentiate between BMI and BMA. This study explains the impact of various BM changes on sustainable firm profitability and value through a detailed collection of media and company official reports. The emphasis on strategic flexibility has positively impacted firm BMs and value, which has implications for providing insights into companies’ long-term development.

Suggested Citation

  • Zhongshu Lin & Xueyao Li & Yeng Wai Lau & Wei Theng Lau & Sabarina Mohammed Shah, 2024. "Business Models of Chinese Firms Impacted by the Crisis Based on Case Studies," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 13, March.
    • Handle: RePEc:bjz:ajisjr:2564
    DOI: https://doi.org/10.36941/ajis-2024-0053
    as

    Download full text from publisher

    File URL: https://www.richtmann.org/journal/index.php/ajis/article/view/13713
    Download Restriction: no
    File URL: https://www.richtmann.org/journal/index.php/ajis/article/view/13713/13269
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.36941/ajis-2024-0053?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Hock-Doepgen, Marianne & Clauss, Thomas & Kraus, Sascha & Cheng, Cheng-Feng, 2021. "Knowledge management capabilities and organizational risk-taking for business model innovation in SMEs," Journal of Business Research, Elsevier, vol. 130(C), pages 683-697.
    2. Somendra Narayan & Jatinder S. Sidhu & Henk W. Volberda, 2021. "From Attention to Action: The Influence of Cognitive and Ideological Diversity in Top Management Teams on Business Model Innovation," Journal of Management Studies, Wiley Blackwell, vol. 58(8), pages 2082-2110, December.
    3. Teece, David J., 2018. "Profiting from innovation in the digital economy: Enabling technologies, standards, and licensing models in the wireless world," Research Policy, Elsevier, vol. 47(8), pages 1367-1387.
    4. Raphael Amit & Christoph Zott, 2001. "Value creation in E‐business," Strategic Management Journal, Wiley Blackwell, vol. 22(6‐7), pages 493-520, June.
    5. Christoph Zott, 2003. "Dynamic capabilities and the emergence of intraindustry differential firm performance: insights from a simulation study," Strategic Management Journal, Wiley Blackwell, vol. 24(2), pages 97-125, February.
    6. Christoph Zott & Raphael Amit, 2007. "Business Model Design and the Performance of Entrepreneurial Firms," Organization Science, INFORMS, vol. 18(2), pages 181-199, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zhu, Peiyu & Miao, Xiaoming & Jin, Shumo & Moehler, Robert, 2023. "Transactive memory system, boundary-spanning search and business model innovation: the moderating role of environmental dynamism," Technovation, Elsevier, vol. 128(C).
    2. Xiangqian Li & Qiang Qiang & Li Huang & Cunquan Huang, 2022. "How Knowledge Sharing Affects Business Model Innovation: An Empirical Study from the Perspective of Ambidextrous Organizational Learning," Sustainability, MDPI, vol. 14(10), pages 1-17, May.
    3. Yuliya Snihur & Christoph Zott & Raphael (Raffi) Amit, 2021. "Managing the Value Appropriation Dilemma in Business Model Innovation," Strategy Science, INFORMS, vol. 6(1), pages 22-38, March.
    4. Yan Jingwen & Azmawani Abd Rahman & Tong Tong, 2022. "Research on the Impact of BMI on Enterprise Performance Based on the Antecedence of Risk Perception," Sustainability, MDPI, vol. 14(23), pages 1-22, November.
    5. Baoliang Hu & Wei Huang & Shuai Yan & Guang Liu & Tao Zhang, 2020. "Business Model Design and Customer Loyalty: The Mediating Role of Customer Citizenship Behavior," Sustainability, MDPI, vol. 12(17), pages 1-14, August.
    6. Cinzia Battistella & Gianluca Murgia & Fabio Nonino, 2021. "Free-driven web-based business models," Electronic Commerce Research, Springer, vol. 21(2), pages 445-486, June.
    7. Amandine Maus & Sylvie Sammut, 2018. "Business model innovation in incubators: the role played by dynamic capabilities theory," Post-Print hal-02466175, HAL.
    8. Meena Madhavan & Mohammed Ali Sharafuddin & Thanapong Chaichana, 2022. "Impact of Business Model Innovation on Sustainable Performance of Processed Marine Food Product SMEs in Thailand—A PLS-SEM Approach," Sustainability, MDPI, vol. 14(15), pages 1-33, August.
    9. Jianyu Zhao & Yining Huang & Xi Xi & Shanshan Wang, 2021. "How knowledge heterogeneity influences business model design: mediating effects of strategic learning and bricolage," International Entrepreneurship and Management Journal, Springer, vol. 17(2), pages 889-919, June.
    10. Costa Climent, Ricardo & Haftor, Darek M., 2021. "Business model theory-based prediction of digital technology use: An empirical assessment," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    11. Lefeng, Shi & Shengnan, Lv & Chunxiu, Liu & Yue, Zhou & Cipcigan, Liana & Acker, Thomas L., 2020. "A framework for electric vehicle power supply chain development," Utilities Policy, Elsevier, vol. 64(C).
    12. Kristina Stoiber & Kurt Matzler & Julia Hautz, 2023. "Ambidextrous structures paving the way for disruptive business models: a conceptual framework," Review of Managerial Science, Springer, vol. 17(4), pages 1439-1485, May.
    13. Iheanachor, Nkemdilim & David-West, Yinka & Umukoro, Immanuel Ovemeso, 2021. "Business model innovation at the bottom of the pyramid – A case of mobile money agents," Journal of Business Research, Elsevier, vol. 127(C), pages 96-107.
    14. Sascha Kraus & Alexander Brem & Miriam Schuessler & Felix Schuessler & Thomas Niemand, 2019. "Innovative Born Globals: Investigating the Influence of Their Business Models on International Performance," World Scientific Book Chapters, in: Alexander Brem & Joe Tidd & Tugrul Daim (ed.), Managing Innovation Internationalization of Innovation, chapter 11, pages 275-328, World Scientific Publishing Co. Pte. Ltd..
    15. Shuting Chen & Dengke Yu, 2024. "What Drives Business Model Innovation? Exploring the Role of Knowledge Management Capability in Chinese Top-Ranking Innovative Enterprises," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(2), pages 6390-6424, June.
    16. Rahul Kapoor & Thomas Klueter, 2021. "Unbundling and Managing Uncertainty Surrounding Emerging Technologies," Strategy Science, INFORMS, vol. 6(1), pages 62-74, March.
    17. Alshawaaf, Nasser & Lee, Soo Hee, 2021. "Business model innovation through digitisation in social purpose organisations: A comparative analysis of Tate Modern and Pompidou Centre," Journal of Business Research, Elsevier, vol. 125(C), pages 597-608.
    18. Canhoto, Ana Isabel & Clear, Fintan, 2020. "Artificial intelligence and machine learning as business tools: A framework for diagnosing value destruction potential," Business Horizons, Elsevier, vol. 63(2), pages 183-193.
    19. Kaoxun Chi & Senqiang Wang & Mahmood Ahmad, 2023. "Entrepreneurs’ Cognitive Schemas and New Venture Business Model Innovativeness: The Mediating Effect of Environmental Scanning," Sustainability, MDPI, vol. 15(4), pages 1-23, February.
    20. Li, Guo & Xue, Jing & Li, Na & Ivanov, Dmitry, 2022. "Blockchain-supported business model design, supply chain resilience, and firm performance," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 163(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bjz:ajisjr:2564. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Richtmann Publishing Ltd (email available below). General contact details of provider: https://www.richtmann.org/journal/index.php/ajis .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.