University of Twente Student Theses
A life cycle perspective on business models in the smart home device industry
Peters, J.G. (2024) A life cycle perspective on business models in the smart home device industry.
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| Abstract: | The Smart Home Device market is expected to grow to 231.6 billion US Dollars by 2028 worldwide. With this growing number, the number of manufacturers offering devices is also growing. This group lacks information on establishing and maintaining a business model for a competitive advantage. To solve this, companies must loop the process of making their business model clear and evaluate, validate and adjust their model. In other words, they are creating a business model life cycle. To understand how this can be best achieved, this re- search focuses on the question: What is the life cycle of business models in the smart home device industry? This question is answered by conducting a multi-case study, in which ten semi-structured interviews are conducted with experts influencing business models. Cross-case patterns are found in the cases, which help validate the literature-based conceptual framework. Besides validation, these patterns are used for a general method guiding the steps in the framework and three in-depth strategies: Fast-Development, Low-Cost, and Thoughtful-Following. The final framework presents a life cycle that can be started for a first business model or a model brought alive after adjustments to the previous business model. Then, companies write out their complete business model canvas. Evaluating is followed to understand the market, and validation is applied to create competitiveness and check success. After validation, adjust- ments are made to restart the framework. During these five steps, influences can be found in external drivers, the business structure, and business relationships. This framework highlights creating a continuous business model with new inputs, adding a new method to the literature, and creating a management guideline. Changes in the business model are shown to influence internal and external stakeholders in the framework. At the same time, these parties will influence the framework in a new and competitive Smart Home market. |
| Item Type: | Essay (Master) |
| Faculty: | BMS: Behavioural, Management and Social Sciences |
| Subject: | 85 business administration, organizational science, 86 law |
| Programme: | Business Administration MSc (60644) |
| Link to this item: | https://purl.utwente.nl/essays/101768 |
| Export this item as: | BibTeX EndNote HTML Citation Reference Manager |
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