The proposed three workshops will explore business model enhancement to enable greater value (co-creation and value (co-)capture from an ecosystem perspective. The analysis of value should consider the contextual specifics as firms have diverse resource and institutional capital available to them (Child and Marinova, 2014), different strategy and scope of activities. Value creation and value capture are characteristics of the business model of the firm and its value proposition, associated with the business model architecture in terms of product, customer, and delivery system (Hennart, 2014) or in terms of "the product, service and information flows" (Timmers, 1998) engraned in the logic for value creation and capture (Chesbrough, 2007 and a discussion in Ahokangas et al., 2018). This is similar to Teece (2010), who suggests that business models are about value proposition (market, customer and channel) and value creation (innovation, core competency and network). According to Clauss (2017), value proposition includes new offerings, new channels (e.g., export channels), new markets, and new customer relationships, while the value creating sub components are new capabilities, technology and processes (innovation, core competency) and new partnerships. In terms of contributing theories, DaSilva and Trkman (2014) argue that the business model concept draws primarily from the resource-based view of the firm and from the transaction cost perspective, because it sees value being gained from transactions that a firm makes with the use of its resources, yet, missing the notion of the embeddedness of business models and their interplay with ecosystems and social value added.

The value creation and value capture in relation to the business model is also embedded in the socially constructed reality in which the business model operates, in other words, ‘the business model as a concept becomes fully comprehensible only through action in the business context where it is created’ (Ahokangas & Myllykoski, 2014; p. 14). However, while industry has been referred to as differentiator for the business model configurations, the diversity of value creation and value capture in firms belonging to one and the same industry has been under-researched. Therefore, the analytically powerful contextual (resource-based and institutional) perspective for business model choice needs to be complemented by considerations of individual cognition, preference, and choice (Child et al, 2017) and ecosystem contribution. The economic perspective of value embodies the transaction (economic) value, with value-for-money, profit, stability and wealth for the user and the organisation, and it has been in the focus of firm-level performance studies related to the business model. The complexity of analysed issues refers to different ways of thinking and interpreting the business model concept, and value creation and value capture seem to be common denominators in the multiplicity of approaches (Boons and Ludeke-Freund, 2013). Nevertheless, the sociological, psychological, societal and ecological value in the value creation and capture process of firms in their ecosystems has received limited attention, as it is often considered beyond the scope of business purpose.

Business model development and business model innovation studies suggest that business models can be regarded simultaneously as a vehicle and an object of innovation (Zott et al., 2011) and thus business model configuration in terms of sustainability, scalability, and adaptability become paramount in understanding not only value creation and value capture per se, but also its sustainability. Therefore, we aim to develop workshops exploring how business model configurations for small and medium-sized firms can enhance value creation and value capture over time. The changes in business model configurations may be individual firm-based or within local or global firm alliances to increase market reach. However, research has been sparce on business model configurations and their differentiation between domestic, international and global firms in view of the different types of value they deliver and the value-in-use or shared value they create.

Business model literature has explored the constitution of business models, their dimensions and transformation in view of value proposition, structures, processes, and activities. Only recently, business models have been related to ecosystems, thus gradually recognising the impact of business models beyond the level of the firm (Benyo et al., 2007; Haslam et al., 2015), and calling for understanding of business models configurations in ecosystems and the society at large.

References

Ahokangas, P., & Myllykoski, J. (2014). The practice of creating and transforming a business model. Journal of Business Models, Vol. 2, Issue 1, 6–18.

Ahokangas, P., Atkova, I. and Hurmelinna-Laukkanen, P. (2018) Come to the Northen Side - We Have a Business Model, in Tesar, G. and Vincze, Z. Motivating SMEs to Cooperate and Internationalize: A Dynamic Perpsective, London: Routledge, pp. 35 - 51.

Benyo, B., Vilmos, A. and Kovacs, K. (2007)NFC Applications and Business Model of the Ecosystem, Mobile and Wireless Networks paper ID Number 576.

Boons, F. and Ludeke-Freund, F. (2013) Business Models for Sustainable Innovation: State-of-Art and Steps towards a Research Agenda, Journal of Cleaner Production, vol. 45, Issue 1, pp. 9-19.

Chesbrough, H. (2007) Business Model Innovation: Is it not Just about Technology Any More, Strategy and Leadership, Vol. 35, Issue 6, pp. 12-17.

Child, J., Hsieh, L., Elbanna, S. Karmovska, J., Marinova, S., Puthusserry, P., Tsai, T., Narooz, R. and Zhang, Y. (2017) SME international Business Models: The Role of Context and Experience, Journal of World Business, 52, pp. 664-679.

Child, J. and Marinova, S. (2014) The Role of Contextual Combination in the Globalisation of Chinese Firms, Management and Organisation review, Vol, 10, Issue 3, pp, 347 - 371.

Clauss, T. (2017). Measuring business model innovation: Conceptualization, scale development, and proof of performance. R & D Management, 47, 385–403.

DaSilva, C. M., and Trkman, P. (2014). Business model: What it is and what it is not. Long Range Planning, 47, pp. 379–389.

Haslam, C., C. Nielsen & X. Lecocq (Eds.), (2015), Business Models: Critical Perspectives on Business and Management. London: Routledge.

Hennart, J.-F. (2014) The Accidental Internationalists: A theory of Born Globals, Entreprenurship Theory and Practice, Vol. 38, Issue 1, pp. 117-135.

Marinova, S. and Marinov, M. (2017) Meanings and Interpretation of Value Creation: The Role of Context and Value Chain Position, Paper presented at the European International Business Academy, Dec, Milano.

Teece, D. J. (2010). Business models, business strategy and innovation. Long Range Planning, 43, pp. 172–194.

Timmers, P. (1998) Business Models and Electronic Markets, Electronic Markets, Vol. 1 Issue 2, pp. 3-8.

Zott, C., Amit, R. and Massa, L. (2011) The Business Model: Recent Developments and Future Research, Journal of management, vol 37, Issue 4, pp. 1019-1042.

Nordic Added Value

These series of workshops will be organised in the Nordic states as they have always been at the forefront of bringing together business, economic, social and environmental apsects reated to internationalisation, innovation and SME development. Moreover, SME firms are the backbone of national economies in the region. However, there are clear trend of Nordic SMEs creating and co-creating more and more innovation value, but finding it progressively challenging to capture and retain the value they create, thus achieving value sustainability.

In this regard, the issues of the social models in the Nordic systems should be seen as inherently embedded in the economic, business, social, psychological ecosystem and thus business models should even more so reflect the ecosystem view. Our proposal suggests developing this thinking by integrating research knowledge in the three Nordic countries and exploring the perspective or relevant other stakeholders.

Advisor

Jean-Francois Hennart, Tilburg University, The Netherlands, Politecnico di Milano, Italy and Aalborg University, Denmark

Project Team

Svetla Marinova, Aalborg University, Denmark

Christian Nielsen, Aalborg University, Denmark

Marin Marinov, Aalborg University, Denmark

Morten Lund, Aalborg University, Denamrk

Svante Andersson, University of Halmstad, Sweden

Petri Ahokangas, University of Oulu, Finland

Marika Iilvari, University of Oulu, Finland

Lasse Torkkeli, Lappeenranta University, Finland

Sami Saarenketo, Lappeenranta University, Finland

Extended network during the project (in alphabetic order)

Abdollah Mohammadparast Tabas, University of Oulu, Finland

Agnieszka Nowinska, Aalborg University, Denmark

Aleksi Niittymies, Tampere University, Finland

Anat Guy, College of Management, Israel

Anna Żukowicka-Surma, Halmstad University, Sweden

Arto Ojala, University of Vaasa, Finland

Avaraham Shnider, College of Management, Israel

Daria Klishevich, Graduate School of Management (GSOM), Russia

David Schulzmann, University of Leeds, UK and Aalborg University, denmark

Deusdedit Augustine Rwehumbiza, University of Dar es Salaam, Tanzania

Dmitrij Slepniov, Aalborg University, Denmark

Ernesto Tavoletti, University of Macerata, Italy

Giorgio Renna, PwC, Italy

Guy Abutbul-Selinger, College of Management, Israel

Hannu Kuusela, Tampere University, Finland.

Irina Atkova, University of Oulu, Finland

Jeaneth Johansson, Halmstad University, Sweden

Jonas Strømfeldt Eduardsen, Aalborg University, Denmark

Kristian Brøndum, Aalborg University, Denmark

Liubov Ermolaeva, Graduate School of Management (GSOM), Russia

Louise B. Kringelum, Aalborg University, Denmark

Magnus Holmén, Halmstad University, Sweden

Mahmoud Mohamed, University of Oulu, Finland

Makoto Sarata, Advanced Science, Technology & Management Research Institute, Kyoto, Japan

Malla Mattila, Tampere University, Finland

Marikka Heikkilä, University of Turku, Finland

Marjukka Mikkonen, Tampere University, Finland

Michael Dahl, Aalborg University, Denmark

Mika Yrjölä, Tampere University, Finland

Minna Pikkarainen, Oslo Metropolitan University, Norway

Mohammad Bakhtiar Rana, Aalborg University, Denmark

Muga Tsukamoto, HILLTOP Corporation, Japan

Niina Nummela, University of Turku, Finland

Peter Thomsen, Aalborg University, Denmark

Pia Hautamäki, Tampere University of Applied Sciences, Finland

Sascha Struwe, Aalborg University, Denmark

Sebastian Stück, Aalborg University, Denmark.

Stefano Elia, Politecnico di Milano, Italy

Taina Eriksson, University of Turku, Finland

Tamara Galkina, University of Vaasa, Finland.

Thomas Roslyng Olesen, Copenhagen Business School, Denmark

William W. Baber, Graduate School of Management, Kyoto University, Japan,

Winfried Mueller, BMW Bank, Germany

Yimei Hu, Aalborg University, Denmark

Marinova, S. and Marinov, M. (2023): Reconfiguration of Business Models and Ecosystems: Decoupling and Resilience. London and New York: Routledge, Taylor and Francis Group.

1. Decoupling and Resilience of Business Models and Ecosystems, Svetla T. Marinova and Marin A. Marinov
2. What Is Ahead? Impact of The Current Economic Volatility on Business Models and Ecosystems, Winfried Müller
3. Overcoming Barriers in Creating Ecosystem Business Models: Achieving Resilience in an Uncertain and Competitive Setting, Sebastian Evald Stück, Peter Thomsen and Christian Nielsen
4. Offshoring vs Further Offshoring: A Multi-level Analysis on the Firm-, Country- and Industry-Specific Drivers of Business Model Reconfiguration, Stefano Elia and Giorgio Renna
5. Reconfiguring Digital Business Models to Enter the Japanese Market, Arto Ojala and William W. Baber
6. Data-driven Business Model Innovation – When is Decoupling Necessary?, Taina Eriksson, Niina Nummela and Marikka Heikkilä
7. Value-creating and Value-eroding Decoupling in B2B Platforms – A Multiple Case Study, Mika Yrjölä, Malla Mattila and Marjukka Mikkonen
8. Critical Junctures and Their Role in Reconfiguration of Business Models and Ecosystems, Svetla T. Marinova, Marin A. Marinov and Winfried Müller
9. Tensions of Coopetition and Integration into the Multiplatform Ecosystems in Digital Care, Mahmoud Mohamed, Petri Ahokangas and Minna Pikkarainen
10. Customer Orientation: The Case of Creating Value in Ecosystems, Mika Yrjölä, Aleksi Niittymies and Abdollah Mohammadparast Tabas
11. How Global Virtual Teams Are Innovating the Business Models of MNEs and Higher Education Institutions, Ernesto Tavoletti
12. Healthcare Ecosystems and Business Models Reconfiguration: Decoupling and Resilience in the Context of Data Driven Technologies: A Systematic Literature Review, Anna Żukowicka-Surma, Magnus Holmén, Jeaneth Johansson and Svante Andersson
13. IT Entrepreneur Resilience in Geopolitical Turbulence, Liubov Ermolaeva and Daria Klishevich
14. Old-school Gender Values in a New Labour Model: A Case Study of Women’s Entrepreneurship, Guy Abutbul-Selinger, Anat Guy and Avi Shnider
15. The Emergence of Open Banking and its Implications, Sascha Struwe
16. Trans-fur-able Resources? Strategic Responses to a Crisis in the Danish Mink Related Ecosystem, Michael S. Dahl, Louise Brøns Kringelum, Agnieszka Nowinska and Thomas Roslyng Olesen

Nielsen, C., Marinova, S., and Marinov, M. (2021): Business Models and Firm Internationalisation. London and New York: Routledge, Taylor and Francis Group

1. Review on Business Models and Firm Internationalisation, Christian Nielsen, Svetla T. Marinova and Marin A. Marinov
2. Framing Firm Internationalisation: A Business Model Perspective, Mika Yrjölä and Hannu Kuusela
3. Internationalisation and Business Model Adaptation: A “Five-Vs” Perspective, Chritian Nielen, Kristian Brøndum and Svetla T. Marinova
4. The Effects of Platform Business Models on Internationalisation Outcomes and Speed, Tamara Galkina, Irina Atkova and Petri Ahokangas
5. Business Model Creation and International New Ventures, Svante Andersson and Petri Ahokangas
6. Business Model Transformation during Firm Internationalisation: Stretching from Japan to the US Market, William W. Baber, Arto Ojala, Makoto Sarata and Muga Tsukamoto
7. Digital Platforms as Disrupting Business Models for Internationalisation, Mika Yrjölä, Malla Mattila, Pia Hautamäki and Marjukka Mikkonen
8. Crafting SME Business Model for International Expansion with Data-Driven Services, Taina Eriksson, Marikka Heikkilä and Niina Nummela
9. Firm Business Models, Internationalisation and Marketing – The Role of Context, Deusdedit A. Rwehumbiza and Marin A. Marinov
10. Together or Alone? Value Creation Logics in Internationalised Service Firms, Agnieszka Nowinska and Svetla T. Marinova

Marinov, M. and Marinov, M. (2020): Covid-19 and International Business Change of Era. London and New York: Routledge, Taylor and Francis Group

1. International Business in the Covid-19 Pandemic, Marin A. Marinov and Svetla T. Marinova
2. Change of Era or Era of Changes, Jaqueline Pels
3. Covid-19: Challenges to International Business, Marin A. Marinov
4. Digesting a Bitter Cherry on an Over Baked Cake: Renewing the Approach to Corporate Strategy in a Global Turmoil, Jean-Paul Lemaire
5. We Are Different. Cross-national Similarities in the Non-response to Covid-19 Pandemic and the Need for Global Cooperation, Ernesto Tavoletti
6. Will Coronavirus Kill Globalization?, Marian Gorynia
7. The Impact of the Great Lockdown on the Future of the World Economy and International Business, Kari Liuhto
8. Covid-19 and the Changing Perception of Strategic Industries: Implications for International Business, Ahmad Arslan, Zaheer Khan, Minnie Kontkanen and Shlomo Tarba
9. Change of International Business Models during Covid-19, William W. Baber and Arto Ojala
10. Digital Health Business Models during and post Covid-19, Andrei Panibratov
11. Covid-19; Stock Markets Responses, Sophie Nivoix and Serge Rey
12. Market Conforming and Non-market Conforming Financial Support Measures in Europe during Covid-19, Winfried Müller
13. Covid-19: The Need for New Talent Management Agenda, Marina Latukha
14. Expatriates, Rise of Telecommuting, and Implications for International Businessl, Ahmad Arslan, Ismail Gölgeci and Jorma Larimo
15. Covid-19 and Global Value Chains: Reconfiguration of Activities across Borders, Paolo Barbieri, Albachiara Boffelli, Stefano Elia, Luciano Fratocchi, and Matteo Kalchschmidt
16. Covid-19, Global Value Chains, Risk, and Resilience, Jonas Strømfeldt Eduardsen
17. The Butterfly Effect of Covid-19: Towards an Adapted Model of Commodity Supply, Laurent Lacroix and Eric Milliot
18. Sustainable Global Supply Chain Management Model Post-Covid-19, Sardana Islam Khan and Julian Teicher
19. Covid-19 and Global Value Chains in South-East Asia and Singapore, Anikó Magasházi
20. Corporate Social Responsibility Response Strategies to Covid-19, Leonidas Leonidou, Bilge Aykol, Pantelitsa Eteokleous, and Angelici Vosko
21. Is Irresponsible Business Immune to Covid-19? The Case of Modern Slavery, Snejina Michailova
22. Effects of Covis-19 on the Export Operations of Smaller Manufacturing Enterprises, George Tesar
23. Covid-19: Challenges to the Internationalization of SMEs, Ernesto Tapia-Moore
24. The Power of Social Enterprises: Cooperatives as Partners of Multinational Firms in the Post Pandemic Recovery, Andrei Kuznetsov and Olga Kuznetsova
25. China Gets Triple Hits by Covid-19, Shuquan He, Maria Elo, Xiaotian Zhang, and Julia Zhang
26. Rebuilding Chinese International Business during and Post Covid-19, Shuquan He and Xiaoying Wang
27. Danish Companies in China during Covid-19: Staying Afloat and Post-pandemic Trends, Dmitrij Slepniov
28. Investment Attractiveness of Central and Eastern Europe for Western Multinational Firms in the Post-Covid-19 Era, Arnold Schuh
29. Large Firms and Covid-19: Insights from Brazil, Thomaz Wood Jr., Jorge Carneiro, and Maria Tereza Leme Fleury
30. Disrupting Globalization: Prospects for States and Firms in International Business, Svetla T. Marinova