What is a business model and what’s in it for regional development?

Abstract

This working paper outsets in describing the core constituents of the business model literature in an account striving to offer an understanding of what the business model of a company is and why is makes sense to connect the business model literature and regional development. This is extended by the inclusion of dynamism in business models, popularly reported for under the business model innovation label. While these are the core streams of the business model literature, other areas have also been successively intertwined with the business model literature. More specifically, this paper addresses the overlaps between business models and servitization, digitalization and sustainability, respectively. This description is concluded by highlighting some areas of development that may deserve particular attention in order to understand what business model dynamics bring for regional development.