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Struggling with conservatism: entrepreneurships' challenges in business model design
Abo Akad Univ, Fac Sci & Engn, Lab Ind Management, Turku, Finland..ORCID iD: 0000-0003-4521-4742
Abo Akad Univ, Fac Sci & Engn, Lab Ind Management, Turku, Finland..
Abo Akad Univ, Fac Sci & Engn, Lab Ind Management, Turku, Finland..
2021 (English)In: International journal of value chain management, ISSN 1741-5357, E-ISSN 1741-5365, Vol. 12, no 1, p. 45-61Article in journal (Refereed) Published
Abstract [en]

The purpose of this paper is to investigate the conservative business ecosystem and to identify opportunities for new companies to create value. Authors used a design-oriented case study with a start-up concentrating on the commercialisation of the university research. The authors consider a novel business model used by the start-up company. By analysing the model, methods are proposed for accelerating the company and the business ecosystem. The results indicate that cooperation between the product suppliers and opinion leaders plays a key role in supporting the biomedical business ecosystem. The probability of success for a new product depends on the interest of the professional community. The results add to the existing knowledge on business models for start-up companies to succeed without business expertise and extensive business network. The transformation of customers to partners stimulates the emergence of a new business model that takes into account the new role of a 'customer-partner'.

Place, publisher, year, edition, pages
INDERSCIENCE ENTERPRISES LTD , 2021. Vol. 12, no 1, p. 45-61
Keywords [en]
conservative business, business model design, business barriers
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:mdh:diva-60625DOI: 10.1504/IJVCM.2021.112844ISI: 000617442700003Scopus ID: 2-s2.0-85100624892OAI: oai:DiVA.org:mdh-60625DiVA, id: diva2:1711350
Available from: 2022-11-16 Created: 2022-11-16 Last updated: 2022-11-16Bibliographically approved

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Kulkov, Ignat

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