Making markets: the practice of business models
The press is replete with stories suggesting that the way firms develop business models (that interact with and shape markets) is likely to affect their ability to compete internationally. Yet we know very little about the micro, firm-level practices that underpin business models.
Government policy initiatives have done much to promote macro-economic management and provide a helpful regulatory environment for business to prosper. However, the key to improvements in firm productivity lies in understanding what goes on inside productivity processes and how this links to the external macro environment. That is, we need to understand more about the process of ‘translating’ a firm’s market vision and business strategy encapsulated in their business model into localised, contextualised and enacted market practices.
The aim of this research is explore and identify promising practices that enable managers to make markets through the development and adaptation of business models.
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