Business Model Innovation, Business Model Patterns, Value Dimensions of Business Models, Porter`s Five Forces
Purpose: As companies need to be able to identify whether their business model is under threat and also to make the right decisions concerning the development of a potential new business model, we have adopted Porter`s five forces in order to analyze different threats to a business model. Furthermore, we have evaluated different business model patterns and rated them according to their impact on each of Porter’s forces. By being aware of patterns, managers and decision makers can generate a new business model or adapt an existing one in a more systematic way.
Design: Data were gathered through surveys. Data were analyzed by median analysis.
Findings: We were able to identify clear trends in the performance of patterns against Porter’s forces. The results can furthermore help companies to make systematic combinations of these patterns to mitigate the threats. For the forces “bargaining power of buyers”, “bargaining power of suppliers”, and “competitive rivalry” we were able to identify specific value dimensions of the BM patterns.
Research limitations / Implictions: We have defined five steps for using business model patterns as a tool to counteract the pressure of any of Porter’s ve forces. Managers and decision makers can use these patterns to generate systematically a new business model or adapt an existing one.
Originality / Value: Scholars propose a pattern-based methodology in order to develop business models (Rudtsch et al., 2014). Therefore, the aim of this paper is to find out how companies are able to overcome business model threats by using business model patterns and linking these to the value dimensions of a business model.