Futures Business Models for an IoT Enabled Healthcare Sector: A Causal Layered Analysis Perspective

Purpose: To facilitate futures business research by proposing a novel way to combine business models as a conceptual tool with futures research techniques.

Design: A futures perspective is adopted to foresight business models of the Internet of Things (IoT) enabled healthcare sector by using business models as a futures business research tool. In doing so, business model is coupled with one of the most prominent foresight methodology, Causal Layered Analysis (CLA). Qualitative analysis provides deeper understanding of the phenomenon through the layers of CLA; litany, social causes, worldview and myth.

Findings: It is difficult to predict the far future for a technology oriented sector like healthcare. This paper presents three scenarios for short-, medium- and long-term future. Based on these scenarios we also present a set of business model elements for different future time frames. This paper shows a way to combine business models with CLA, a foresight methodology; in order to apply business models in futures business research. Besides offering early results for futures business research, this study proposes a conceptual space to work with individual business models for managerial stakeholders.

Originality / Value: Several research on business model has offered conceptualization of the phenomenon, innovation through business model and transformation of business models. However, existing literature does not o er much on using business model as a futures research tool. Enabled by futures thinking, we collected key business model elements and building blocks for the futures market and analyzed them through the CLA framework.