Proposal for a Digitally Enabled Business Model
However, currently the tools for this endeavor are in their infancy.
Thus, this special issue editorial attempts to take stock of the emerging research field through a literature review and providing a synthesis of special issue contributions. In doing so, we contribute by developing a framework that communicates and sets the direction for future research by linking digitalization, business model innovation, and sustainability in industrial settings.Industries are entering the fourth industrial revolution through capitalizing digitalization, which is revolutionizing the way business is conducted in industrial value chains. We are witnessing a new age, where industry is becoming increasingly ‘smart’ with the use of Internet of Things (IoT) technologies, intensive data exchange and predictive analytics.
Not only the internal capacities are central to the BM. The assessment of the BM is bound to the environmental context. To increase the success of the designed BM on the market, the company must analyze various alternatives, have a good understanding of customer requirements, a precise understanding of the value chain so as to deliver what customers need as cost-effectively as possible and on time and should also have a neutral perspective on outsourcing (Teece, 2018).
Within the many and profound changes brought by the Digital and Social transformation, the advent of companies-platform, namely new digitally-enabled business models, is emerging as one of the most compelling at a global level.
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Teece, D.J. (2018), “Business models and dynamic capabilities”, Long Range Planning, Vol. 51 No. 1, pp. 40-49.
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Mezger, F. (2014), “Toward a capability-based conceptualization of business model innovation: insights from an explorative study”, R&D Management, Vol. 44 No. 5, pp. 429-449.
Ritter, T. and Lettl, C. (2018), “The wider implications of business-model research”, Long Range Planning, Vol. 51 No. 1, pp. 1-8.