Profit Driving Patterns for Digital Business Models
The constantly emerging paradigm of the Internet of Things (IoT) offers immense opportunities for innovation. In order to design business models for innovative offerings and ensure their success, business model patterns have been proven to be a viable approach, transferring analogies of past successful economic effects to new business endeavors. While past research focused on contributing to a general overview and understanding of business model patterns and their application to new businesses, this study aims at providing concrete guidance in terms of identifying and applying patterns that drive profit for a business model under development. Therefore, first a set of potentially profit driving patterns is identified. Then, based on an extensive case study at a global holding from the technology sector with representative business model initiatives, categories to consider when choosing profit driving patterns are derived as well as influencing factors, levers and prerequisites that provide guidance for the individual choice of profit driving patterns of a project.
KeywordsBusiness model innovation Business model pattern Digitalization Internet of things (IoT)
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