This project involves examining the various business models adopted by companies, and how they are changing in response to the spread of the internet and other communication technologies.
Business models comprise an aspect of innovation that is often overlooked. Besides developing new products, companies can also set themselves apart by changing the way they do things, and the ways they make money from what they do. And without an effective business model, no attempt at innovation can be successful.
The rise of the internet and digital communications has radically changed how all businesses operate. This is most obvious in industries like newspapers, music and publishing, which can now operate solely online. Many businesses in these industries have had their business models radically altered, and have found it hard to make money online. The internet has also affected many other companies by changing how they interact with customers and other businesses.
These changes offer huge opportunities as well as challenges for firms. Getting the right business model is vital to making the most of these opportunities so that companies can create value and turn it into revenue. Our research includes consideration of how the internet has affected business models, and what firms need to consider when responding to their new environment.
- How have the internet and the rise of the digital economy altered firms' business plans?
- What key factors do companies need to take into account when designing a business model?
- How has the internet changed the role of intellectual property protection?
- How can the innovation system best support innovation in business models?