Read the summary and the most important questions on samenvatting studeren

• 1 week 1

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• What is the relation between technological innovation and the business model according to Chesbrough (2002)?

  Having a great technology with a bad business model does not capture or create a lot of value, while a worse technology with a great business model can perform and exceed expectations.
  
  

  • The BM provides a coherent framework that takes technological characteristics and potentials as inputs, and converts them through customers and markets into economic outputs.
  •   The BM is a focusing device that mediates between technology development and economic value creation
  •   The economic value of a technology remains latent until it is commercialized in some way via a BM. 
    

• What is a business model according to Massa et al?

  a business model is a description of an organization and how that organization fuctions in achieving its goals (e.g., profitability, growth, social impact, ect)

• What are the three basic interpretations of a business model?

  • A cognitive or linguistic schema (interpretations of manager and their manifestation in social interaction) function is to improve decision making
    
    An attribute of a firm. (Value creation)
    
    A formal conceptual representation describing the activities of a firm (a blueprint of how a company does business)
    

• What assumptions made by RBV and IBV are criticized by the business model approach?

  (1) firms and their customers have perfect information, 
  (2) firms and their customers have unlimited cognitive abilities and act independently, 
  (3) there are no externalities, 
  (4) competitive advantage is single sourced (resourced- or position- based).

• Of which three elements if an activity system build?

  Content (What)
  Governance (Who)
  Structure (How)

• Which four factors can create value to the activity system?

  novelty (Create novelty in one of the three elements)
  lock-in, (Keep third parties attracted to the business)
  complementarities (identify if complementing activities delivers more value than separate)
  efficiency (reducing transaction costs)

• What are two advantages of the activity system?

  1) focus on activities is a natural perspective for entrepreneurs and managers who must decide on business model design
  2) the activity system perspective encourages the firm in systemic and holistic thinking when designing its business model, instead of concentrating on isolated, individual choices

• What are four reasons that business models matter?

  
  

  • Trends in the macro-environment force companies to
    rethink how they are achieving their goals (Massa et al., 2017)
    
  •   BMs represent a new dimension of innovation (Massa et al., 2017)
    
  •   BM are important for competitiveness and may be a source of above normal returns(Zott and Amit, 2010; Massa et al., 2017) 
  • The usual approaches to sustainable development of philanthropy, CSR, and technological process and product innovation are insufficient to create the necessary radical transformation of organizations, industries, and societies
    toward genuine, substantive sustainable development (Schaltegger et al., 2016) 
    

• What are the four levels of abstraction of a business model?

  1) narrative, linguistic scheme                    MOST ABSTRACT
  2) archetype
  3) meta-model / graphical framework
  4) activity system                                          LEAST ABSTRACT

• 2 week 2

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• What is the difference between a business model and a sustainable business model?

  A business model creates value, but can also destruct value (environmental and societal)
  A sustainable business model creates value on multiple levels and avoids the destruction of value