How do entrepreneurs develop business models in small high-tech ventures? An exploratory model from Australian IT firms
Journal article
Najmaei, Arash. (2016). How do entrepreneurs develop business models in small high-tech ventures? An exploratory model from Australian IT firms. Entrepreneurship Research Journal. 6(3), pp. 297 - 343. https://doi.org/10.1515/erj-2014-0037
Authors | Najmaei, Arash |
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Abstract | The objective of this article is to explore and explain how entrepreneurs develop new business models for new ventures. Though highly topical, there is little solid empirical knowledge of this issue. Findings from multiple case studies of firms operating in the Australian cloud-computing ecosystem reveal that developing a new business model involves three phases. In the first phase (business modelling ideation (BMI)), various ideas for a viable business model are generated and the most viable one is chosen. The strategic consensus and commitment are generated in the second phase, labelled as the “business modelling strategic commitment” (BMSC). The third phase, labelled as the “business model actualization” (BMAC) is the market-testing phase where the business model is reified or actualized. The theoretical and managerial implications of the findings are discussed and several directions for future research are suggested. |
Keywords | business model; high-tech venture; resources allocation; strategic commitment |
Year | 2016 |
Journal | Entrepreneurship Research Journal |
Journal citation | 6 (3), pp. 297 - 343 |
Publisher | Walter de Gruyter GmbH |
ISSN | 2194-6175 |
Digital Object Identifier (DOI) | https://doi.org/10.1515/erj-2014-0037 |
Scopus EID | 2-s2.0-84977644019 |
Page range | 297 - 343 |
Research Group | Peter Faber Business School |
Publisher's version | File Access Level Controlled |
Place of publication | Germany |
https://acuresearchbank.acu.edu.au/item/88x1x/how-do-entrepreneurs-develop-business-models-in-small-high-tech-ventures-an-exploratory-model-from-australian-it-firms
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