A Futuristic Outlook on Emerging Business Models

In today's complex, knowledge- and innovation-driven, economy innovating business models and their architecture is in growing demand. Innovating business models to become network-based is a complex venture, but critical for the survival of many companies. Business model innovation is not widely researched, though. This chapter examines the business model and innovation literatures in order to determine whether the business model concept is more than a 'buzz word', adding something fundamentally new and important to management theory and practice. It appears the business model concept is useful, indeed, especially if distinguished from but at the same time related with business strategy and business model innovation in an ongoing developmental cycle. Furthermore, rather than discussing when a change can rightfully be called a business model innovation, it is more useful to consider the space organizations have available to innovate their business model.