Business models in construction - Revision history

Designing Buildings at 08:27, 25 September 2020

2020-09-25T08:27:48Z

← Older revision		Revision as of 08:27, 25 September 2020
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	* Zott, C., Amit, R., & Massa, L. (2011). The Business Model: Recent Developments and Future Research. Journal of Management 37(4), 1019-1042.		* Zott, C., Amit, R., & Massa, L. (2011). The Business Model: Recent Developments and Future Research. Journal of Management 37(4), 1019-1042.

−	[[Category:~~Articles_needing_more_work~~]] [[Category:Cost_/_business_planning]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Cost_/_business_planning]]

Editor at 09:10, 14 July 2020

2020-07-14T09:10:00Z

← Older revision		Revision as of 09:10, 14 July 2020
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	* Architectural practice.		* Architectural practice.
		+	* Business advisers to offer free services to small firms.
	* Building Information Modelling.		* Building Information Modelling.
	* Business administration.		* Business administration.

Editor at 16:23, 1 February 2019

2019-02-01T16:23:54Z

← Older revision		Revision as of 16:23, 1 February 2019
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	= Related articles on Designing Buildings Wiki =		= Related articles on Designing Buildings Wiki =

		+	* Architectural practice.
	* Building Information Modelling.		* Building Information Modelling.
	* Business administration.		* Business administration.

Editor at 12:52, 8 November 2018

2018-11-08T12:52:42Z

← Older revision		Revision as of 12:52, 8 November 2018
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	* Preliminary business case.		* Preliminary business case.
	* Private sector.		* Private sector.
		+	* Public sector.
	* Sustainability.		* Sustainability.
	* Special purpose vehicles.		* Special purpose vehicles.

Editor at 15:58, 6 November 2018

2018-11-06T15:58:10Z

← Older revision		Revision as of 15:58, 6 November 2018
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−	Business models are fundamental to realising the latent value in new ideas or technologies. Whilst it is sometimes assumed that the phrase 'business model' emerged in the dotcom period, the reality is that business models have existed since people first established exchange values for goods and services. The earliest known academic article written about business models was in the 1950s, (Vickers, 2000).	+	Business models are fundamental to realising the latent value in new ideas or technologies. Whilst it is sometimes assumed that the phrase 'business model' emerged in the dotcom period, the reality is that business models have existed since people first established exchange values for goods and services. The earliest known academic article written about business models was in the 1950s (Vickers, 2000).

	The subject then gained momentum, in particular with Timmers' EU-funded research about business models for e-businesses in 1998. Timmers defined business models as the 'architecture of flows' of products, services and information, as well as including descriptions of various business actors, potential benefits to them and revenue sources.		The subject then gained momentum, in particular with Timmers' EU-funded research about business models for e-businesses in 1998. Timmers defined business models as the 'architecture of flows' of products, services and information, as well as including descriptions of various business actors, potential benefits to them and revenue sources.
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	* Key processes		* Key processes

−	A business model definition that has gained currency comes from a group of Wharton academics: '…the content, structure and governance of an activity system for value creation' (Zott & Amit, 2008). The Wharton academics have been writing on the subject since 2001. Their state-of-the-art article in 2011 categorised business model literature into three streams suggesting areas for future research (Zott & Amit, 2010; Zott, Amit, & Massa, 2011), however, they did not offer a prescriptive business model framework that could be applied in the marketplace.	+	A business model definition that has gained currency comes from a group of Wharton academics: '…the content, structure and governance of an activity system for value creation' (Zott & Amit, 2008). The Wharton academics have been writing on the subject since 2001. Their state-of-the-art article in 2011 categorised business model literature into three streams suggesting areas for future research (Zott & Amit, 2010; Zott, Amit, & Massa, 2011); however, they did not offer a prescriptive business model framework that could be applied in the marketplace.

	There is a growing literature on business models in the mobile and telecommunications sector as well as business models that cross company boundaries, often around a technological platform. This changes the unit of analysis from the single company to the value network (or innovation ecosystem) of companies around a technological platform.		There is a growing literature on business models in the mobile and telecommunications sector as well as business models that cross company boundaries, often around a technological platform. This changes the unit of analysis from the single company to the value network (or innovation ecosystem) of companies around a technological platform.

−	Despite the expansion of academic research on business models e.g. (Desyllas & Sako, 2013; Lobo, 2013; Mutka & Aaltonen, 2013), there remain gaps in the literature. For example, there is no widely accepted taxonomy for business models (Lambert, 2006) despite several attempts to create one, and more work is needed on the best ways to capture value/profit from business models (Zott, Amit and Massa, 2011). In addition, issues like privacy, security and intellectual property need more research especially for Web 2.0 business models. However, some common elements seem to be part of most business model definitions:	+	Despite the expansion of academic research on business models e.g. (Desyllas & Sako, 2013; Lobo, 2013; Mutka & Aaltonen, 2013), there remain gaps in the literature. For example, there is no widely accepted taxonomy for business models (Lambert, 2006) despite several attempts to create one, and more work is needed on the best ways to capture value/profit from business models (Zott, Amit and Massa, 2011).
		+
		+	In addition, issues like privacy, security and intellectual property need more research especially for Web 2.0 business models. However, some common elements seem to be part of most business model definitions:

	* Value proposition		* Value proposition
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	* Practice management.		* Practice management.
	* Preliminary business case.		* Preliminary business case.
		+	* Private sector.
	* Sustainability.		* Sustainability.
	* Special purpose vehicles.		* Special purpose vehicles.

Editor at 15:05, 12 September 2018

2018-09-12T15:05:22Z

← Older revision		Revision as of 15:05, 12 September 2018
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	* Value (for the business)		* Value (for the business)

−	There are several areas where 'business models' could be used as an analytical tool for the construction sector. These include business models for SME (small and medium-sized enterprises) /entrepreneurial businesses as SMEs make up the largest part of the construction industry in the UK. With the mandating of BIM (building information modelling), this becomes a crucial exercise to persuade SMEs that it is possible to make money using SaaS (software as a service) models for instance, even with the costs of implementing BIM.	+	There are several areas where 'business models' could be used as an analytical tool for the construction sector. These include business models for SME (small and medium-sized enterprises)/entrepreneurial businesses as SMEs make up the largest part of the construction industry in the UK. With the mandating of BIM (building information modelling), this becomes a crucial exercise to persuade SMEs that it is possible to make money using SaaS (software as a service) models for instance, even with the costs of implementing BIM.

	Another possibility is data-driven business models such as business models for BIM. Analysis could determine the value proposition offered by BIM to users and clients, map the capabilities (digital and otherwise) required for BIM and determine the business value of BIM for the industry in terms of decision-making, lower costs, etc. This analysis could be done from the perspective of the professions or of projects. Existing attempts to assess the business value of BIM include the SmartMarket Reports on the Business Value of BIM (2009) and Green BIM (2010).		Another possibility is data-driven business models such as business models for BIM. Analysis could determine the value proposition offered by BIM to users and clients, map the capabilities (digital and otherwise) required for BIM and determine the business value of BIM for the industry in terms of decision-making, lower costs, etc. This analysis could be done from the perspective of the professions or of projects. Existing attempts to assess the business value of BIM include the SmartMarket Reports on the Business Value of BIM (2009) and Green BIM (2010).
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	Getting this right will be beneficial to the UK economy in terms of jobs, increased GDP and wealth creation.		Getting this right will be beneficial to the UK economy in terms of jobs, increased GDP and wealth creation.

−	~~= Find out more =~~	+	= Related articles on Designing Buildings Wiki =
−		+
−	=== Related articles on Designing Buildings Wiki ===	+

	* Building Information Modelling.		* Building Information Modelling.
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	* Funding options.		* Funding options.
	* Open shop construction.		* Open shop construction.
		+	* Practice.
	* Practice management.		* Practice management.
	* Preliminary business case.		* Preliminary business case.
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	* Types of construction organisations.		* Types of construction organisations.

−	=== External references: ===	+	=== External references ===

	* Aho, I. (2013). Value-added business models: linking professionalism and delivery of sustainability. Building Research & Information 41(1), 110-114.		* Aho, I. (2013). Value-added business models: linking professionalism and delivery of sustainability. Building Research & Information 41(1), 110-114.

Editor at 16:20, 17 July 2018

2018-07-17T16:20:20Z

← Older revision		Revision as of 16:20, 17 July 2018
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	The subject then gained momentum, in particular with Timmers' EU-funded research about business models for e-businesses in 1998. Timmers defined business models as the 'architecture of flows' of products, services and information, as well as including descriptions of various business actors, potential benefits to them and revenue sources.		The subject then gained momentum, in particular with Timmers' EU-funded research about business models for e-businesses in 1998. Timmers defined business models as the 'architecture of flows' of products, services and information, as well as including descriptions of various business actors, potential benefits to them and revenue sources.

−	Magretta (2002) described business models as 'the story about how an enterprise works', defining who the target customers are, how the business makes money and what the customer values. More recent definitions include a componential perspective. For example, Osterwalder, Pigneur and Tucci (2005) describe 9 elements:	+	Magretta (2002) described business models as 'the story about how an enterprise works', defining who the target customers are, how the business makes money and what the customer values. More recent definitions include a componential perspective. For example, Osterwalder, Pigneur and Tucci (2005) describe nine elements:

	* Value proposition		* Value proposition
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	* Value (for the business)		* Value (for the business)

−	There are several areas where 'business models' could be used as an analytical tool for the construction sector. These include business models for SME (small and medium-sized enterprises) /entrepreneurial businesses as SMEs make up the largest part of the construction industry in the UK. With the mandating of BIM (building information modelling), this becomes a crucial exercise to persuade SMEs that it is possible to make money using SaaS (software as a service) models for instance, even with the costs of implementing BIM. Another possibility is data-driven business models such as business models for BIM. Analysis could determine the value proposition offered by BIM to users and clients, map the capabilities (digital and otherwise) required for BIM and determine the business value of BIM for the industry in terms of decision-making, lower costs etc. This analysis could be done from the perspective of the professions or of projects. Existing attempts to assess the business value of BIM include the SmartMarket Reports on the Business Value of BIM (2009) and Green BIM (2010).	+	There are several areas where 'business models' could be used as an analytical tool for the construction sector. These include business models for SME (small and medium-sized enterprises) /entrepreneurial businesses as SMEs make up the largest part of the construction industry in the UK. With the mandating of BIM (building information modelling), this becomes a crucial exercise to persuade SMEs that it is possible to make money using SaaS (software as a service) models for instance, even with the costs of implementing BIM.
		+
		+	Another possibility is data-driven business models such as business models for BIM. Analysis could determine the value proposition offered by BIM to users and clients, map the capabilities (digital and otherwise) required for BIM and determine the business value of BIM for the industry in terms of decision-making, lower costs, etc. This analysis could be done from the perspective of the professions or of projects. Existing attempts to assess the business value of BIM include the SmartMarket Reports on the Business Value of BIM (2009) and Green BIM (2010).

	Analysis could also assess business models for sustainability, renewable energy or green building (Aho, 2013; Mokhlesian & Holmén, 2012). According to Aho (2013), there is a need to transform the construction sector's prevailing cost-plus based business model to a performance-based one. The latter may be achieved by taking a whole lifecycle performance approach which involves all parts of the industry from design to maintenance/decommissioning.		Analysis could also assess business models for sustainability, renewable energy or green building (Aho, 2013; Mokhlesian & Holmén, 2012). According to Aho (2013), there is a need to transform the construction sector's prevailing cost-plus based business model to a performance-based one. The latter may be achieved by taking a whole lifecycle performance approach which involves all parts of the industry from design to maintenance/decommissioning.
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	* Environmental scanning.		* Environmental scanning.
	* Funding options.		* Funding options.
		+	* Open shop construction.
	* Practice management.		* Practice management.
	* Preliminary business case.		* Preliminary business case.

Editor at 11:54, 10 May 2018

2018-05-10T11:54:59Z

← Older revision		Revision as of 11:54, 10 May 2018
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	* Sustainability.		* Sustainability.
	* Special purpose vehicles.		* Special purpose vehicles.
		+	* Succession planning.
	* Types of construction organisations.		* Types of construction organisations.

Editor at 15:14, 24 April 2018

2018-04-24T15:14:10Z

← Older revision		Revision as of 15:14, 24 April 2018
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	* Construction organisation design.		* Construction organisation design.
	* Consortium.		* Consortium.
		+	* Environmental scanning.
	* Funding options.		* Funding options.
	* Practice management.		* Practice management.

Editor at 13:02, 2 January 2017

2017-01-02T13:02:40Z

← Older revision		Revision as of 13:02, 2 January 2017
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	* Consortium.		* Consortium.
	* Funding options.		* Funding options.
		+	* Practice management.
	* Preliminary business case.		* Preliminary business case.
	* Sustainability.		* Sustainability.