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What can Strategy Learn from the Business Model Approach?

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  • Lyda S. Bigelow
  • Jay B. Barney

Abstract

The use of the business model concept has grown dramatically over the past several years, yet it remains difficult to distinguish the concept from conventional strategy. Despite a lack of consensus on a definition of business model, proponents of the concept assert that it is quite different from strategy. We generate alternative definitions of the business model concept and compare these to the received strategy literature to determine where/if potential theoretical or empirical advances might be likely. We identify opportunities for business model concepts to yield theoretical contributions and highlight why the concept may be so attractive to entrepreneurs and managers.

Suggested Citation

  • Lyda S. Bigelow & Jay B. Barney, 2021. "What can Strategy Learn from the Business Model Approach?," Journal of Management Studies, Wiley Blackwell, vol. 58(2), pages 528-539, March.
    • Handle: RePEc:bla:jomstd:v:58:y:2021:i:2:p:528-539
    DOI: 10.1111/joms.12579
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    References listed on IDEAS

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    2. Stratos Ramoglou & William B. Gartner, 2023. "A Historical Intervention in the “Opportunity Wars†: Forgotten Scholarship, the Discovery/Creation Disruption, and Moving Forward by Looking Backward," Entrepreneurship Theory and Practice, , vol. 47(4), pages 1521-1538, July.
    3. Kay H. Hofmann & Axel Jacob & Massimo Pizzingrilli, 2022. "Overcoming Growth Challenges of Sustainable Ventures in the Fashion Industry: A Multinational Exploration," Sustainability, MDPI, vol. 14(16), pages 1-22, August.
    4. Moqaddamerad, Sara & Ali, Murad, 2024. "Strategic foresight and business model innovation: The sequential mediating role of sensemaking and learning," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    5. Attah-Boakye, Rexford & Adams, Kweku & Hernandez-Perdomo, Elvis & Yu, Honglan & Johansson, Jeaneth, 2023. "Resource re-orchestration and firm survival in crisis periods: The role of business models of technology MNEs during COVID-19," Technovation, Elsevier, vol. 125(C).
    6. Silvia Sanasi, 2023. "Entrepreneurial experimentation in business model dynamics: Current understanding and future opportunities," International Entrepreneurship and Management Journal, Springer, vol. 19(2), pages 805-836, June.
    7. Shu-Yi Chi & Tsorng-Chyi Hwang & Li-Hsien Chien, 2023. "Business Policy and Competitiveness of Farmers’ Organizations—Empirical Evidence from Taiwan," Agriculture, MDPI, vol. 13(3), pages 1-17, February.

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