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Wikstrom K.,Abo Akademi University | Wikstrom K.,PBI Research Institute for Project Based Industry | Artto K.,Aalto University | Kujala J.,University of Oulu | Soderlund J.,Norwegian School of Management
International Journal of Project Management | Year: 2010

Recent management and business research has demonstrated the importance of business models for value creation and company performance. So far, extant research on business models has not investigated the particular requirements, characteristics and combinations of business models in project business. This paper seeks to fill this void. The paper reports on findings from an exploratory multiple case study comprising six project-based firms operating in such industries as shipbuilding, telecom, and power systems. 19 business models were identified and compared through a framework utilizing elements of business models. The identified business models are further grouped into three categories based on the organizational entity. The paper points out the diversity of business models in project business and their inclination to span organizational levels. The results demonstrate the importance of addressing the combination of business models across organizational boundaries. © 2010 International Project Management Association. Source


Kujala S.,Aalto University | Kujala J.,University of Oulu | Turkulainen V.,Aalto University | Artto K.,Aalto University | And 3 more authors.
International Journal of Project Management | Year: 2011

Services are receiving an increasing amount of attention in project-based firms. This has led project suppliers to employ new business models; the project supplier can offer services as an additional component of the project or take full responsibility for the operation and maintenance of the facility throughout its life-cycle. In this paper, we build on the idea that within the context of project-based firms, assessing business models requires a solution level of analysis which implies services as integral parts of project offering. We analyze business models in five solutions that were delivered by a power plant supplier firm. The evidence clearly demonstrates that there are variations in business models at the solution level. The paper further contributes to existing research by empirically identifying factors that influence the choice of business model for a particular solution. Finally, we formulate propositions on how these identified factors influence the choice of a business model for an individual solution. © 2011 Elsevier Ltd. and IPMA. Source


Hellstrom M.,Abo Akademi University | Tsvetkova A.,Abo Akademi University | Tsvetkova A.,PBI Research Institute for Project Based Industry | Gustafsson M.,Abo Akademi University | And 3 more authors.
Journal of Cleaner Production | Year: 2015

To succeed business around renewables and sustainability often need new types of business models. Business models are typically considered from the viewpoint of a focal firm, whereas renewables and sustainability often require a broader, system perspective. We explore how firms together in the energy business ecosystems develop their business models to facilitate change in the logic of the industry. Earlier studies on ecosystems have looked at the role of technical interdependencies in ecosystems, whereas we use a business model lens to study collaboration between companies. We use three cases from the distributed energy ecosystems to illustrate how different kinds of mechanisms trigger closer collaboration, sustainability and increased overall value creation. Our findings pinpoint the importance of identifying the factors driving the business models of the collaborating firms to facilitate system transitions and change in the logic of an industry. © 2015 Elsevier Ltd. Source

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