Management of Art Galleries – Business Models - Universität St.Gallen

Introduction 9 / 22567). This paper sets out to cover these objectives. While the Identification/Description and theExplanation strive to describe reality, it is the Evaluation that uses these findings to elaborate onthem and derive results (Popper, 1984; Schön, 1983).To sum up, based on a practical observation and the identified research gaps in literature, thisaim of this dissertation is to generate knowledge on an appropriate configuration of businessmodels for art galleries.This research aim is supported by several supplementary aims:- Identify and describe the status quo (Identification/Description)- Explain and discuss existing statistics to identify success factors in art gallery businessmodels (Explanation)- Evaluate a possible new business model for art galleries (Evaluation)On the basis of this research objective the research question evolves as follows:RQ: How can art galleries in Western European markets configure their businessmodels in order to achieve sustainable profits?To answer this research question the author aligns his approach with the three identified researchobjectives: Identification/Description, Explanation, and Evaluation (Tomczak & Dyllick, 2007, p.67). This leads to several supplementary questions which will eventually structure our thoughts:- Identify and describe the status quo: Analysiso What are the most relevant statistics to describe the business model of art galleries?o What are the predominant business models for art galleries?- Explain and discuss existing statistics to identify success factors: Analysiso What are the existing and potential success factors?- Evaluate a possible new business model for art galleries: Implicationo What could a new business model for art galleries look like?Since this dissertation project combines three closely connected, consecutive research objectivesand because the Identification/Description and Explanation can be regarded as a pre-phase to theEvaluation, the research will be separated into two parts: the Analysis and the Implication.The Analysis deals with the examination of current business models of art galleries in a samplegroup (Identification/Description, Explanation). It maps the status quo of art galleries bydescribing relevant industry statistics, identifying existing business models and finally discussingsuccess factors.The Implication is based on the findings of the Analysis (Evaluation). It evaluates a possible newbusiness model for art galleries.