Title: What constitutes a business model: the perception of financial analysts

Authors: Christian Nielsen, Per Nikolaj Bukh

Addresses: Aalborg University, Fibigerstraede 4, Fib4-72, DK-9220 Aalborg Ost, Denmark. ' Aalborg University, Fibigerstraede 4, Fib4-72, DK-9220 Aalborg Ost, Denmark

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.

Keywords: disclosure; communication; financial analysts; generic descriptions; analyst perceptions; corporate strategies; competitive strengths; typologies; narrow comprehension; broad comprehension; Denmark; medical products; Coloplast; learning; intellectual capital; business models; innovation.

DOI: 10.1504/IJLIC.2011.041072

International Journal of Learning and Intellectual Capital, 2011 Vol.8 No.3, pp.256 - 271

Published online: 30 Jun 2011 *

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