University of Twente Student Theses
Limitations of Traditional Business Modeling: A Dynamic Approach to the BMC.
Trindafkov, Andrey (2024) Limitations of Traditional Business Modeling: A Dynamic Approach to the BMC.
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| Abstract: | In the current fast-paced and constantly evolving business landscape, it is imperative for organizations to continuously adjust and innovate in order to stay ahead of the competition. While the Business Model Canvas (BMC) is widely utilized for its detailed framework that highlights the essential elements of a business model, it, along with other conventional business modeling techniques like e3Value and ArchiMate, has notable drawbacks, particularly in its static nature and lack of adaptability to changing market conditions. This study critically evaluates these limitations and also investigates alternative business modeling approaches that integrate dynamic aspects like scenario planning (simulation features), system dynamics and dynamic capabilities (DCs). Through the incorporation of these features, business models can more effectively simulate various scenarios, offering a comprehensive insight into potential future developments. The research begins with an extensive review of literature, highlighting the evolution of business modeling and the need for dynamic capabilities in today's ever-changing market environment. Using secondary data for conducting qualitative case study research, the paper presents the construction of a new dynamic BMC meta-model. |
| Item Type: | Essay (Bachelor) |
| Faculty: | BMS: Behavioural, Management and Social Sciences |
| Subject: | 85 business administration, organizational science |
| Programme: | International Business Administration BSc (50952) |
| Link to this item: | https://purl.utwente.nl/essays/99973 |
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