۱٫ Maintaining profitable and sustainable business models

۲٫ What are business models, risk management, and business model risks?

۳٫ Research design: Literature review and expert group interview

۴٫ Results: A business model risk and uncertainty factors framework

۵٫ Why business model risk and uncertainty factors matter for theory and practice

References

Abstract

Business models and business model innovationdand particularly their opportunitiesdhave been a popular topic recently, but we find the extant literature on the subject lacking. The risk and uncertainty aspect typical of business models has not been sufficiently addressed. We draw upon the existing literature and triangulate results with an extensive expert group interview to identify 28 risk and uncertainty factor groups, creating a checklist that can be used as the first step in an integrative business model risk management process for existing and new iterations. With an established process for managing and identifying risk in business models, managers can make more conscious and well-informed decisions.

Maintaining profitable and sustainable business models

Business models (BMs) and business model innovation (BMI) have increasingly gained significance over the last few years (Zott & Amit, 2010; Zott, Amit, & Massa, 2011). The importance and the need and opportunities of BMs and BMI are often discussed in theory and practice, whereas the risk and uncertainty aspect typical of BMs is rarely systematically addressed (Brillinger, 2018; Gu¨nzel & Holm, 2013; Taran, Boer, & Lindgren, 2013). A new BM can involve many risks and uncertainties (Euchner & Ganguly, 2014; Taran et al., 2013) due to its complexity, modularity, and integrative nature. This makes a comprehensive and reliable BM risk management system beneficial for building and maintaining profitable and sustainable BMs.

BM risk management can help reduce risks related to new models (Taran et al., 2013; Taran, Goduscheit, & Boer, 2015), as well as help identify risk and uncertainty factors in existing BMs and adapt or innovate them accordingly (Girotra & Netessine, 2011, 2014a, 2014b). Overall, a comprehensive risk management system can generate value and provide a competitive advantage if a company manages its risks better than its competitors (Girotra & Netessine, 2011).