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Business Model Experimentation: What is the Role of Design-Led Prototyping in Developing Novel Business Models?

In: The Experimental Nature of New Venture Creation

Author

Listed:
  • Sabine Brunswicker

    (Fraunhofer Institute for Industrial Engineering)

  • Cara Wrigley

    (Queensland University ofTechnology)

  • Sam Bucolo

    (University of Technology)

Abstract

Recently, ‘business model’ and ‘business model innovation’ have gained substantial attention in management literature and practice. However, many firms lack the capability to develop a novel business model to capture the value from new technologies. Existing literature on business model innovation highlights the central role of 'customer value'. Further, it suggests that firms need to experiment with different business models and engage in 'trail-and-error' learning when participating in business model innovation. Trial-and error processes and prototyping with tangible artifacts are a fundamental characteristic of design. This research explores the role of design-led innovation in facilitating firms to conceive and prototype novel and meaningful business models. It provides a brief review of the conceptual discussion on business model innovation and highlights the opportunities for linking it with the research stream of design-led innovation.

Suggested Citation

  • Sabine Brunswicker & Cara Wrigley & Sam Bucolo, 2013. "Business Model Experimentation: What is the Role of Design-Led Prototyping in Developing Novel Business Models?," Innovation, Technology, and Knowledge Management, in: Martin Curley & Piero Formica (ed.), The Experimental Nature of New Venture Creation, edition 127, chapter 0, pages 139-151, Springer.
    • Handle: RePEc:spr:innchp:978-3-319-00179-1_13
    DOI: 10.1007/978-3-319-00179-1_13
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    Citations

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    Cited by:

    1. Beatrice d'Ippolito, 2014. "The importance of design for firms' competitiveness: a review of the literature," Working Papers hal-00936947, HAL.
    2. Beatrice d'Ippolito, 2014. "The importance of design for firms' competitiveness: a review of the literature," Working paper serie RMT - Grenoble Ecole de Management hal-00936947, HAL.
    3. Bogers, Marcel & Hadar, Ronen & Bilberg, Arne, 2016. "Additive manufacturing for consumer-centric business models: Implications for supply chains in consumer goods manufacturing," Technological Forecasting and Social Change, Elsevier, vol. 102(C), pages 225-239.
    4. Sandro Montresor & Antonio Vezzani, 2017. "Design, innovation and performance in European firms," JRC Working Papers on Corporate R&D and Innovation 2017-01, Joint Research Centre.
    5. Nancy M.P. Bocken & Karen Miller & Ilka Weissbrod & Maria Holgado & Steve Evans, 2017. "Business model experimentation for circularity: Driving sustainability in a large international clothing retailer," ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, FrancoAngeli Editore, vol. 2017(1-2), pages 85-122.

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