Managerial cognition, action and the business model of the firm

Managerial cognition, action and the business model of the firm Purpose – The purpose of the paper was to outline a generic framework for the business model and illuminate its linkages to managerial cognition. Design/methodology/approach – The paper reviewed the focal literature focusing on the actions and evolution of a firm and built a synthesis that describes the different components of a business model. Findings – The main finding was that a business model is essentially both a cognitive phenomenon as well as being built on the material aspects of a firm. Research limitations/implications – The paper proposes that the business model can be scrutinized in future studies, especially from the viewpoints of cognition, thus creating new avenues for intra‐firm evolutionary studies. Practical implications – The paper found several implications for practising managers. First, the concept itself creates possibilities for self‐analysis and scenario building. Second, the understanding that a business model is systemic helps managers to evaluate their actions vis‐à‐vis the evolutionary path of the business model. Third, the outlined business model is useful in executive education as it creates a cognitive map of the various aspects of business activities. Originality/value – The paper offers new insights into the functions and evolution of firms and will be of interest to both researchers and practising managers. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Management Decision Emerald Publishing

Managerial cognition, action and the business model of the firm

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Publisher
Emerald Publishing
Copyright
Copyright © 2005 Emerald Group Publishing Limited. All rights reserved.
ISSN
0025-1747
DOI
10.1108/00251740510603565
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of the paper was to outline a generic framework for the business model and illuminate its linkages to managerial cognition. Design/methodology/approach – The paper reviewed the focal literature focusing on the actions and evolution of a firm and built a synthesis that describes the different components of a business model. Findings – The main finding was that a business model is essentially both a cognitive phenomenon as well as being built on the material aspects of a firm. Research limitations/implications – The paper proposes that the business model can be scrutinized in future studies, especially from the viewpoints of cognition, thus creating new avenues for intra‐firm evolutionary studies. Practical implications – The paper found several implications for practising managers. First, the concept itself creates possibilities for self‐analysis and scenario building. Second, the understanding that a business model is systemic helps managers to evaluate their actions vis‐à‐vis the evolutionary path of the business model. Third, the outlined business model is useful in executive education as it creates a cognitive map of the various aspects of business activities. Originality/value – The paper offers new insights into the functions and evolution of firms and will be of interest to both researchers and practising managers.

Journal

Management DecisionEmerald Publishing

Published: Jul 1, 2005

Keywords: Corporate strategy; Cognition; Evolution

References

  • BPR consulting: an evaluation of the methods employed
    Archer, R.; Bowker, P.
  • Reassessing the fundamentals and beyond: Ronald Coase, the transaction cost and resource‐based theories of the firm and the institutional structure of production
    Madhok, A.
  • Configurations of strategy and structure: towards a synthesis
    Miller, D.
  • The evolution of new organizational forms
    Romanelli, E.
  • Dynamic capabilities and strategic management
    Teece, D.; Pisano, G.; Shuen, A.
  • Strategy research: governance and competence perspectives
    Williamson, O.E.

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