Vinsamlegast notið þetta auðkenni þegar þið vitnið til verksins eða tengið í það: http://hdl.handle.net/1946/22573
Key success factors for innovative business models
This MSc thesis seeks to uncover the fundamental key success factors, which new ventures or startups acquire to creating innovative business models. In particular the sector under investigation is design retailing, a B2B and B2C selling plan of design goods. The study aims to identify and analyse successful strategic approaches to the latter, more significantly how can new ventures achieve a sustainable business model. This subject is particularly relevant and significant for future business ventures seeking to get a comprehensive insight into todays competitive and saturated design retailing market while simultaneously understand the trends and needs of a continuously evolving industry. Ultimately this research study seeks to give the reader an insight into four new ventures and their approach to successfully create a unique business model in line with the consumer demands, competitive and economic landscape and incorporating innovative initiatives. The main theory supporting the framework is business model design and innovation studied by Chesbrough (2010), Johnson (2010), Amit & Zott (2007) and Teece (2010), along with other supporting journals, published articles and literature in the area of startups, business model strategy, design and innovation. The main idea investigated was the core components of a successful business model, how this can be achieved by today’s new ventures. The research was conducted with a case study method based on Yin (1984) and Stake’s (1995) interpretivistic philosophy applying the multiple case study analysis through examining four new ventures. The qualitative primary research found that through in-dept interviews with 8 individuals from the four cases in design retail, various levels of success was achieved through business model creation. However the results also identified the more significant success factors from the lesser ones. Moreover the concluding analysis found key variances identified between the four business models, in the sense of how they were implemented, the venture’s position on the company life cycle scale and ultimately their approach to business model innovation and adaptation to market conditions and forces. This ultimately lead to a clearer perspective of the business model creation framework, where new ventures are recommend to take certain actions at each step of the model simultaneously as they apply the adaptation and innovation approach all throughout the process of business model creation in order to achieve sustainable results.