Business Model Archetypes: A Mapping Tool for Fostering Innovation

Companies today, in some industries more than others, invest more capital and resources just to stay competitive, develop more diverse solutions, and increasingly start thinking more radically when considering their business models. By using the analytic induction method, we designed our research objectives as followed: 1. develop [deductively] a typology of business model archetypes, and to group various archetypes under a distinct list of categories, and 2. to facilitate companies in the process of business model innovation, by linking [inductively] managers’ strategic preferences with obtainable and applicable business model archetypes. A comprehensive literature review and analysis resulted in a list of 61 business model archetypes, systematically organized under five classification groups, namely, revenue model; value proposition; value configuration; target customers, and strategic partnerships. Based on the list of archetypes developed, various testable propositions are put forward, aimed at facilitating companies in selecting the most applicable business model archetypes, based on their own strategic preference, as part of their business model innovation activity planned.