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What constitutes a business model: the perception of financial analysts

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  • Christian Nielsen
  • Per Nikolaj Bukh

Abstract

In this paper, we review the literature on the business model concept. We distinguish between the various business model frameworks according to whether they concern generic descriptions of the business or whether they are more specific in their descriptions. The empirical part of the paper is a case study of financial analysts' perceptions of the term business model and how they describe a specific firm's strategy in relation to the business model frameworks. The analysis indicates that the particularities of strategy and competitive strengths mobilised by the analysts in their understanding of the case company can be seen as elements of a business model. It is concluded which business model typologies are most similar to the analysts' understanding and how these incorporate elements of both a narrow and a broad comprehension of the concept.

Suggested Citation

  • Christian Nielsen & Per Nikolaj Bukh, 2011. "What constitutes a business model: the perception of financial analysts," International Journal of Learning and Intellectual Capital, Inderscience Enterprises Ltd, vol. 8(3), pages 256-271.
    • Handle: RePEc:ids:ijlica:v:8:y:2011:i:3:p:256-271
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    Citations

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    Cited by:

    1. Ales Novak, 2014. "Business Model Literature Overview," FINANCIAL REPORTING, FrancoAngeli Editore, vol. 2014(1), pages 79-130.
    2. Laura Bini & Marco Bellucci & Francesco Giunta, 2016. "Put Your Money where Your Mouth is: The Difference between Real Commitment to Sustainability and Mere Rhetoric," FINANCIAL REPORTING, FrancoAngeli Editore, vol. 2016(2), pages 5-31.
    3. Nielsen, Christian & Roslender, Robin, 2015. "Enhancing financial reporting: The contribution of business models," The British Accounting Review, Elsevier, vol. 47(3), pages 262-274.
    4. Dale Tweedie & Christian Nielsen & Nonna Martinov‐Bennie, 2018. "The Business Model in Integrated Reporting: Evaluating Concept and Application," Australian Accounting Review, CPA Australia, vol. 28(3), pages 405-420, September.
    5. Sylwia Lorenc & Tomasz Leśniak & Arkadiusz Kustra & Maria Sierpińska, 2023. "Evolution of Business Models of Mining and Energy Sector Companies according to Current Market Trends," Energies, MDPI, vol. 16(13), pages 1-21, July.
    6. Pascale Bueno Merino & Samuel Grandval & Marc Feuilloley, 2014. "L’analyse du business model par les normes IAS-IFRS : le rôle de la ligne spécifique du compte de résultat," Post-Print hal-01899386, HAL.
    7. Damiano Cesa Bianchi & Marco Bellucci & Giacomo Manetti & Luca Bagnoli, 2023. "NFTs and business model innovations," Working Papers - Business wp2023_01.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
    8. Lorenzo Simoni & Laura Bini & Francesco Giunta, 2019. "The effects of business model regulation on the value relevance of traditional performance measures. Some evidence from UK companies," FINANCIAL REPORTING, FrancoAngeli Editore, vol. 2019(1), pages 83-111.
    9. Beattie, Vivien & Smith, Sarah Jane, 2013. "Value creation and business models: Refocusing the intellectual capital debate," The British Accounting Review, Elsevier, vol. 45(4), pages 243-254.
    10. Havemo, Emelie, 2018. "A visual perspective on value creation: Exploring patterns in business model diagrams," European Management Journal, Elsevier, vol. 36(4), pages 441-452.
    11. Laura Girella & Roberto Tizzano & Elisa Rita Ferrari, 2019. "Concepts travelling across disciplinary fields: the case of the business model," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 23(2), pages 373-402, June.
    12. Boguslawa Bek-Gaik & Anna Surowiec, 2022. "The Quality of Business Model Disclosure in Integrated Reporting: Evidence from Poland," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 3-26.

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