Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/319026 
Year of Publication: 
2024
Citation: 
[Journal:] Journal of Business Models (JOBM) [ISSN:] 2246-2465 [Volume:] 12 [Issue:] 1 [Year:] 2024 [Pages:] 83-101
Publisher: 
Aalborg University Open Publishing, Aalborg
Abstract: 
Innovating service-oriented business models in industrial business-to-business (B2B) contexts presents a complex and risky endeavor. Recently, System Dynamics (SD) modelling and simulation has been suggested as a tool for prototyping and experimentation in business model innovation (BMI). However, knowledge of how to best utilise SD in BMI is scarce. Therefore, our research objective was to develop a new simulation-based approach for BMI, particularly for B2B contexts. We conducted a two-and-a-half-year action design research study with two industrial firms, Alpha (start-up) and Beta (incumbent firm). We developed and simulated new service-oriented business models as part of the two BMI teams. Our study resulted in the simulation-based BMI process containing phases, tools/techniques, and goals. Our findings demonstrate that SD, as a dynamic and visual modelling language, facilitates collaborative and cognitive activities during BMI, such as communication, design, evaluation, and decision-making.
Subjects: 
Business model simulation
System Dynamics
Servitization
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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