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“How are business models purposeful designed and structured? How can the models be implemented professionally and managed successfully and sustainably? In what ways can existing business models be adapted to the constantly changing conditions? In this clearly structured reference work, Bernd W. Wirtz gives an answer to all these issues and provides the reader with helpful guidance. Although, ‘Business Model Management’ is first and foremost a scientific reference book, which comprehensively addresses the theory of business models, with his book Bernd W. Wirtz also turns to practitioners. Not least, the many clearly analyzed case studies of companies in different industries contribute to this practical relevance. My conclusion: ‘Business Model Management’ is an informative and worthwhile read, both for students of business administration as a textbook as well as for experienced strategists and decision makers in the company as a fact-rich, practical compendium.”
Matthias Müller, Chief Executive Officer Porsche AG (2010-2015), Chief Executive Officer (2015-2018) Volkswagen AG

“In dynamic and complex markets a well thought out business model can be a critical factor for the success of a company. Bernd Wirtz vividly conveys how business models can be employed for strategic competition and success analysis. He structures and explains the major theoretical approaches in the literature and practical solutions in an easy and understandable way. Numerous examples from business practice highlight the importance of business models in the context of strategic management. The book has the potential to become a benchmark on the topic business models in the German-speaking world.”
Hermann-Josef Lamberti, Member of the Board Deutsche Bank AG 1999-2012/ Member of the Board of Directors, Airbus Group

“The business environment has become increasingly complex. Due to changing conditions, the executive board of a company is confronted with growing challenges and increasing uncertainty. Thus, a holistic understanding of the corporate production and performance systems is becoming more and more important. At this point, Bernd W. Wirtz introduces and presents the concept of the structured discussion of the own business model. Business models present operational service processes in aggregated form. This holistic approach channels the attention of management, supports a sound understanding of relationships and facilitates the adaption of the business to changing conditions. The management of business models is thus an integrated management concept. Through the conceptual presentation of complex issues the author makes a valuable contribution to the current literature. In particular, the referenced case studies from various industries make the book clear and very applicable to practice.”
Dr. Lothar Steinebach, Member of the Board, Henkel AG 2007-2012/ Supervisory Board, ThyssenKrupp AG

Inhaltsverzeichnis

Frontmatter

22. Correction to: Business Model Management

Bernd W. Wirtz

Business Models as a Management Concept

Frontmatter

1. Introduction

Abstract
In recent years, the development and design of business models have received increased attention (Wirtz 2000; Chesbrough 2010), especially in the economic press. Here, business models are often linked to competitive advantages. Occasionally, the success of corporate activities is largely attributed to the management of business models.
Bernd W. Wirtz

2. The Business Model Concept

Abstract
The term “business model” has a long tradition in management theory, although the modern business model concept took a long time to develop. Hence, before analyzing business models as a management concept, we need to investigate the origin of the term business model because in early academic publications a wide variety of interpretations can be found.
Bernd W. Wirtz

3. Business Model Concepts in Literature

Abstract
A variety of business model concepts can be distinguished in the literature. In the following chapter, the three basic theoretical approaches of the business model concept are presented along with the different business model concepts associated with them. In addition, a chronological synopsis of the different developments is provided.
Bernd W. Wirtz

4. Distinction and Aims of Business Models

Abstract
The term business model has been used in various disciplines whereby, over the course of time, different basic explanatory approaches to the concept have been developed. This thematic heterogeneity is particularly reflected in existing definitions, which in most cases merely cover subareas, such as business model components, or are very context-specific (Eriksson and Penker 2000).
Bernd W. Wirtz

Structure of Business Models

Frontmatter

5. Introduction

Abstract
The structure of a business model is particularly dependent on the contributing partial models. The connections between the partial models and relevant actors thereby shape every company’s unique business model. In order to be able to use business models as an integrated management tool, it is essential to develop an understanding of its structure.
Bernd W. Wirtz

6. Structure of the Value Creation in Business Models

Abstract
A central component of business models is their value creation logic. This describes how value is generated by certain processes within a company (Amit and Zott 2001). Against this background, relevant structures and relationships between different approaches of value creation logic will now be described. The architecture of the company as a network for value creation and value relationships, denoted here as the value constellation, will be emphasized (Gordijin et al. 2005). The value creation model of the value constellation explains the generation of value, describing it as a parallel and bidirectional network process.
Bernd W. Wirtz

7. Partial Models of Business Models

Abstract
Business models can be observed on different levels. While in the previous discussions of business models, the concept was generally classified as belonging to a company’s value creation logic; this chapter focuses on the different partial models of business models and their contribution to value creation. In Sect. 7.1, an integrated business model approach is introduced. Furthermore, it is clarified why this detailed observation of value creation in companies offers the greatest advantages for sustainable success. In particular, the different partial models of an integrated business model are illustrated as well as how they contribute to value creation.
Bernd W. Wirtz

8. Actors and Interactions in Business Models

Abstract
Information about the relevant actors and their interactions in the value creation process is an essential component of business models (Timmers 1998; Gordijin and Akkermans 2001). This information is the basis for relationship management in a multi-actor network (Bruijn et al. 2008). In some literature, the actors and interactions are said to have an elemental function for the business model (Papakiriakopoulos et al. 2001). For this reason, relevant stakeholders in the context of business models are presented in the following section.
Bernd W. Wirtz

9. Business Model Innovation

Abstract
Business model innovation has received more attention in recent years than nearly all of the other subareas of business model management. In this respect, there is a great interest in literature and practice regarding the conditions, structure and implementation of innovations on the business model level. Since business model innovation is rather abstract compared to product or process innovation, knowledge of the business model concept as well as classic innovation management is necessary in order to better understand it.
Bernd W. Wirtz

Business Model Management

Frontmatter

10. Introduction

Abstract
As an integrated and comprehensive management concept, business models may help a company to optimize the elements relevant for fulfilling service commitments in many areas. This management tool may be used in all corporate activities which help achieving a sustainable competitive advantage. In the context of business model management, an ideal-type, five-step process can be observed to reveal all relevant aspects.
Bernd W. Wirtz

11. Types of Business Model Management

Abstract
The management of business models has a considerable effect on the general development of a company. Therefore, decision-making is of great importance in the management process. In this context, different types of management may be differentiated. An important typology was presented by (Mintzberg 1973) who divided the types of management into entrepreneurial mode, adaptive mode, and planning mode. This division has later been transferred to the context of business models (Afuah 2004).
Bernd W. Wirtz

12. Design of Business Models

Abstract
The design of business models has a substantial effect on the development and success of a company (Zott and Amit 2010). In this context, different management processes can be identified in literature, and two fundamental tendencies of design can be distinguished. On the one hand, the design of business models is observed in the context of a specific formation of a company focusing on the planning process in particular. On the other hand, the (re-)design of an existing business model is examined in the context of an existing company. The (re-)design of existing business models is explained in detail in Chap. 6 (Adjustment and Modification of Business Models). Therefore, this section focuses on the design of new business models.
Bernd W. Wirtz

13. Implementation of Business Models

Abstract
In the context of business model management, the implementation of business models follows the business model design process. The result of the design process is an integrated business model that contains all nine partial models and serves as a construction plan for implementation. Practical implementation takes place on the partial model level and ends with the complete implementation of the business model.
Bernd W. Wirtz

14. Business Model Operation

Abstract
The term business model operation describes the operation of a business that is based on an integrated business model. It is the phase between the complete implementation of the business model and the beginning of the adaptation or modification of the underlying business model. The business model prototype emerged from implementation is backed up with core processes and transferred to the operational business.
Bernd W. Wirtz

15. Adaptation and Modification of Business Models

Abstract
According to classical organization and strategy theory, business modification is an essential part for long-term success. Since it is also important in the business model context, this chapter deals with business model change. In the following section, three superordinate drivers will be described that may initiate a change in the business model. Additionally, the question will be addressed of what specific processes need to be implemented by a business in order to guarantee the success of business model change.
Bernd W. Wirtz

16. Controlling Business Models

Abstract
The superordinate goal of a business model—the creation and protection of competitive advantage—may serve as a starting point for the conception of business model controlling. For this reason, the essential task of business model controlling is to ensure the superordinate goal by using planning and controlling tools.
Bernd W. Wirtz

Business Model Case Studies

Frontmatter

17. Introduction

Abstract
A business model helps to sustain a company’s competitive advantage. Therefore, a business model is first and foremost understood as a practice-oriented concept that describes and manages all relevant corporate activities. After establishing a basic understanding of business models and business model management, this chapter deals with applying business models within the scope of business activities. For this reason, one business model in each of the following fields is discussed: E-business, financial services, the automobile industry, and media.
Bernd W. Wirtz

18. E-business Model

Abstract
In 1998, Lawrence Eduard Page and Sergej Michailowisch Brin founded the corporation Google while attending Stanford University. Initially, they participated in a research project about data mining and developed a search engine called BackRub, the precursor of the search engine Google. At this time, BackRub was the only search engine that was capable of analyzing cross-references of a website.
Bernd W. Wirtz

19. Banking Business Model

Abstract
Deutsche Bank is one of the leading banks in Europe. The corporation offers financial services to companies and private clients that range from payment processing to the entire spectrum of corporate financing services and support with IPOs as well as advice on acquisitions and mergers. In addition, Deutsche Bank stands out due to its dominant position in the fields of international foreign exchange as well as bond and stock trade and is represented in many emerging markets (Deutsche Bank AG 2019b).
Bernd W. Wirtz

20. Automotive Business Model

Abstract
The Wolfsburg-based Volkswagen Group is Europe’s largest automobile manufacturer and one of the leading carmakers worldwide (Volkswagen AG 2019b). Today, the corporation’s portfolio consists of 12 brands: Audi, Seat, Skoda, Bentley, Bugatti, Lamborghini, Porsche, Ducati, Volkswagen Nutzfahrzeuge, Scania, MAN, and various service companies, particularly in the sectors financial and insurance service sectors. Nowadays, the Volkswagen Group offers its vehicles in more than 153 countries (Volkswagen AG 2019d).
Bernd W. Wirtz

21. Media Business Model

Abstract
The FOX Corporation is a spin-off of the 21st Century Fox formerly known as News Corporation (News Corp.) and still one of the world’s largest media conglomerates. The internationally active company employs approximately 55,000 people and is listed on the New York, London, and Australian stock exchanges (see in the following (Wirtz 2013d)). Rupert Murdoch, the founder, chairman, and chief executive officer of FOX Corporation, started his career in the newspaper industry. He created a business empire worth billions by expanding business fields and applying a targeted internationalization strategy.
Bernd W. Wirtz

Backmatter

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