Exploring business change

Abstract

Opportunities such as digital technologies are fundamentally reshaping businesses. Enterprises are moving from selling physical products and services, to providing digitally enabled services. Enterprises need to rethink their business models and how to adapt them to take advantage of these opportunities. How to adapt the existing business model is not always obvious or clear how to do it and business model exploration is needed. However, there is a lack of research on business model exploration. With business model exploration, enterprises can discover new business model opportunities, get new business model ideas, and create competitive advantage. Scholars argue that a way to support the transformation of business models is to develop business model tools. However, there is no clear indication of whether business model tooling contributes to the exploration and the process from an existing business model to a new one. Additionally, existing business model tools are mainly focused on formalizing one specific business model design, rather than facilitating the systematic exploration of alternative business models.