Klang, David; Wallnöfer, F.; Hacklin, Fredrik (2014)
The business model has become a popular concept in business and management fields. Yet, it is suffering from a paradox between outstanding popularity and severe criticism, which appears to impede the positive development of the scholarly discourse on the business model concept. Against this background, the purpose of this study is to provide insight into the antecedents of this paradox and to understand their implications for the future development of the concept. The following contributions are made. First, the authors apply a narrative approach to recognizing and interpreting the paradox, and introduce the analysis of syntactics of scholarly discourse as a novel method of investigating management concepts. Second, as a result of elaborating on recurrent themes and tensions in scholarly discourse, the authors extend the literature on business models through theorizing on the core of the concept along the dimensions of classification, constitution and configuration. In particular, they identify the simultaneity of separation and attachment as the main antecedent of the business model paradox. Third, the authors offer implications for further advancing the development of this management concept, and highlight the need for spurring integrative research while at the same time maintaining a plurality of perspectives.
Entrepreneurial marketing has emerged as a recent perspective within the marketing field, taking the challenges and characteristics of small firms and founding teams into account. Specifically, in the early stages of entrepreneurial marketing, besides potential customers a variety of other stakeholders tend to be in the center of attention. Among these stakeholders, business angels as early-stage investors represent a vital target group. In this paper, we aim to shed light on entrepreneurial marketing in the early phases of new venture creation, in which entrepreneurial firms have an inherent need to market the value of a business opportunity toward potential investors. In particular, we contribute to the literature by introducing the business model as a narrative device for the marketing of early-stage new ventures toward potential business angels. In this regard, the business model is suggested as playing a critical role through making the inherent economic value of a technology explicit. Building on narrative theory, we investigate the role that the business model plays in the decision-making process of 17 business angels. Based on our findings, we propose a model that links the business model to a business angel's interpretation of an investment opportunity and discuss implications for theory and practice.
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