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

Conceptual Basis 25 / 225Table 11: Comparison of Business Model Components to Other DefinitionSource andComponentsProduct Marketing Internal Finance OutlookValuepropositionCustomerCommunicationOrganisationPartner networkCompetenciesRevenue modelGrowth conceptAlt &Zimmermann(2001)Bieger et al.(2002)Hedman &Kalling(2003)Kagermann& Österle(2006)Johnson,Christensen&Kagermann(2008)Mahadevan(2000)Morris et al.(2005)Osterwalderet al. (2005)Shafer et al.(2005)Stähler(2002)Value Strategicproposition focusProduct /serviceconceptProduct /serviceconceptProcesses Structure Actors andgovernanceCommunicationconceptOrganisationalconceptOffering Customers Offering Activities andorganisationProduct /serviceOffering,job to bedoneCustomerapproachTargetcustomerCustomerretentionCooperation+coordinationconceptSupply offactor andproductioninputsCompetence Revenueconfiguration conceptResourcesEcosystem Ecosystem Price /costsInformation, Key processes Partnership,channels, brandalliancesValuestreamLogisticalstreamProducts MarketValue chainand factorsarchitectureservicesValue Target Distribution Value Partnerproposition customer Channel configuration networkValue Customer Processes ValuepropositionnetworkValue MarketInternal value Externalproposition designarchitecture valueTimmers Potential Marketing Marketing(1998) value strategy strategySource: Adapted from Boehnke (2007)KeyresourcesInternalcapabilityfactorsCorecompetencyResourcesInternalvaluearchitectureRevenues StrategicgoalsProfitformulaRevenuestreamEconomicfactorsRevenuemodelCapturevalueRevenuemodelarchitectureArchitecture Architecture Source ofrevenueGrowthconceptLongitudinalprocesscomponentCompetitivestrategyfactorsStrategyAs we can see from the comparison of business model components the Bieger et al. (2002)model is most in line with the components and sub-components we identified. Hence, rather thanadding another definition to the existing ones, it will be more useful to analyse the Bieger et al.business model definition in depth with a minor amendment to the product / service conceptwhich we will separate into two: the product concept and the customer concept, where theproduct concept focuses more on the value proposition, while the customer concept focuses onthe customer and which customer sectors should be targeted.