Value creation mechanisms of business models
Bibliographic record
Abstract
Management scholars and practitioners generally agree that the primary functions of a business model are value creation and value capture. However, the meaning (conceptualization) of these terms, their measurement, and the factors and mechanisms affecting them remain contentious. In the current article, we provide answers to these questions by clarifying the consumers’ value creation and business value capture constructs. Then, we demonstrate how they are determined by four business model mechanisms: value proposition and value targeting (affecting consumers’ value through willingness to pay) and value appropriation and value delivery (affecting business value through price and cost). We demonstrate that a fine-grained analysis of a business model’s value creation cannot be adequately performed without reference to these four mechanisms. The developed conceptual framework is illustrated and corroborated by the mini-case vignettes. We finish by outlining an application of the proposed framework to two crucial real-world business model situations: escaping the Giver Trap and remaining the Winner.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.018 | 0.025 |
| Meta-epidemiology (narrow) | 0.001 | 0.001 |
| Meta-epidemiology (broad) | 0.001 | 0.002 |
| Bibliometrics | 0.005 | 0.003 |
| Science and technology studies | 0.005 | 0.030 |
| Scholarly communication | 0.020 | 0.024 |
| Open science | 0.003 | 0.012 |
| Research integrity | 0.004 | 0.004 |
| Insufficient payload (model declined to judge) | 0.009 | 0.001 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".