Authors: Dinesh B. Panchal; Bala Krishnamoorthy
Addresses: Mukesh Patel School of Technology Management and Engineering, SVKM's NMIMS (Deemed to be University), India ' School of Business Management, SVKM's NMIMS (Deemed to be University), India
Abstract: This study evaluates the available business model typologies with reference to the characteristics of a good classification scheme. The evaluation was done in two stages. In the first stage, business model typologies were checked for the availability of dimensions for classification and generalisability of dimensions to different industry sectors. Four business model typologies were shortlisted at the end of the first stage. Subsequently, the shortlisted typologies were evaluated using analytical hierarchy process (AHP) and technique for order of preference by similarity to ideal solution (TOPSIS). The second stage evaluation indicated the highest preference for typology with dimensions - customer sensing, customer engagement, monetisation and value chain and linkages. Most of the business model typologies have limited validation and are inconsistent with one another. This study attempts to resolve this issue and identifies the typology which is theoretically complete and more useful in practice.
Keywords: business model; business model elements; BMEs; analytical hierarchy process; AHP; TOPSIS; business model typology; BMT.
International Journal of Business Excellence, 2020 Vol.21 No.3, pp.410 - 428
Received: 10 Apr 2018
Accepted: 25 Nov 2018
Published online: 24 Jun 2020 *