Business models as scientific models: The question of perspective?

Abstract

BACKGROUND: In the last 15 years theoretical discussions and empirical research on the domain of business models have grown significantly. Different authors understand and focus on either constituencies of business models or narratives. The question remains what the predictive value of business model is. OBJECTIVES: The purpose of this interdisciplinary conceptual paper is to investigate and discuss business models as scientific models. METHODS: This article is conceptual although previous studies on business models enrich this discussion. RESULTS: A narrative perspective on business models shows that they also have a predictive value that is expressed through language not in numbers maps and diagrams. The process of reflexivity that is contextualised and bounded in the form of a narrative lies at the centre of designing and changing the business model. The article provides substantial discussion on business models as scientific models and their predictive power. These concepts have not been deeply discussed yet. CONCLUSIONS: An argument is provided to support the proposition that business models can be considered as scientific models that is however embedded in specific organizational cultural and technological contexts. Future research needs to be directed towards the empirical analysis of narratives in companies. © 2023 Elsevier B.V. All rights reserved.