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Published in:
2015 | OriginalPaper | Chapter
The Online World
Author : Ian Chaston
Published in: Internet Marketing and Big Data Exploitation
Publisher: Palgrave Macmillan UK
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The birth of an entirely new industry is usually the result of a visionary idea for a new product, service or industrial process. Evolving the idea into a viable commercial proposition will often involve solving significant scientific or technological problems. Zott and Amit (2007) noted that in the early years of a new industry there is only limited understanding of what market opportunities exist and how these might be exploited. Over time, as summarised in Figure 1.1, interaction between identified opportunities, the nature of the technology and organisational capability leads to the emergence of one or more new business models. Figure 1.1Business model emergence