Business model is a concept that has gained increasing attention in recent years. It is seen as a firm’s ticket to success and has been studied by researchers and managers alike to find the ultimate template for prosperity. Little research has, however, been conducted on the necessary adjustments of a business model in the case of new market entry. Globalization has inspired companies to grow internationally, and firms increasingly look for new markets to capture, and China has become one of the most attractive markets for western firms. Existing theory claims that business model adjustment is necessary when expanding globally. Hence, our aim is to research how a firm’s business model adjusts when entering a new market. We also aim to further develop existing theory on the interrelation between business model elements, and see how change in one element influences other connected elements. We have conducted a qualitative exploratory case study using the business model of a European e-commerce company on the verge of entering China. To reach the purpose of the thesis we have conducted interviews with employees of the studied company to understand their current business model, previous changes when entering new markets and the expectations on China’s influence on the business model. We have also collected information on the Chinese market through interviews and secondary sources. The gathered data has been analyzed in accordance with theories concerning culture, consumer behavior and business model features. The results of the data gave us a foundation for researching the influences of culture on the business model. Through increased knowledge in the area of business models, information on the Chinese culture and market, and theoretical findings regarding e.g. culture and consumer behavior, we have been able to analyze how cultural aspects influence business model elements. We found potential links between cultural traits of the Chinese market and the market’s consumer behavior and preferences. The conclusion of the thesis states that the elements primarily affected by new market entry are target customer, relationships, partnerships and capabilities. The two first are influenced by the changing consumer preferences (culture) whereas the final two are operational and affected by the organizational changes necessary when entering a new market. We also found change in value configuration, distribution channel and cost structure as a result of the adjustments made in the previously mentioned elements. Due to the lack of information on other markets, apart from the European, it has, however, been difficult to draw generally applicable conclusions on cultural influence on the business model.

'The Company' had introduced 'Being Responsible' a program for the embedding of responsibility-sustainability. Corporate responsibility-sustainability here describes efforts to address entangled cares of responsibility and sustainability. The program showed potential to change the business model, which led to the research problem: 'How can responsibility-sustainability programs change business models?'In this thesis, business models are understood as three dynamically interlinked states: Logics, devices and actor networks. Business model change may happen through the embedding of responsibility-sustainability into any of these states, and through the dynamics between them. Main conceptual lenses are organizational institutionalism and actor-network theory, which are connected through a social constructionist philosophy. Qualitative methods used include an in-depth case study of The Company (104 interviews with 72 interviewees) and thematic analyses of business model descriptions (devices) of FTSE corporations (100 documents).Seven papers study distinct aspects of the research problem: Papers 1 and 2 provide a conceptual basis. Papers 3 and 4 study how the embedding of responsibility-sustainability into the FTSE100s' business model devices changed the logics they described. Papers 5-7 study embedding into The Company's business model actor network. I found how embedding of responsibility-sustainability into the three states of commercial business models happened through three processes: Blending of logics, combination of device elements and translation between actors. Such embedding of responsibility-sustainability led to misalignment and tensions between responsibility-sustainability and the dominant commercial logic. This misalignment in turn fueled the dynamics of change between logics, devices and actor networks. First, this thesis contributes to an emerging literature on the dynamics of business model logics, devices and actor networks. It makes explicit the distinction between these states and illustrates how their dynamics provide novel insight into business model change. Secondly, I showcase how actor-network theory may complement the activity systems study of business models as well as stakeholder thinking in responsibility-sustainability research. Insights into how to use devices to change business models and to embed responsibility-sustainability appear relevant for practitioners.

While IT-enabled innovations continue to disrupt long-lasting industries, emerging concepts and theories seek to explain implications of digitalisation on its value, competition and organisation. Over the past two decades, the notions of digital capability and business model reconfiguration as antecedents of organisational performance have become increasingly influential in the Information Systems literature. Appreciation of the role of strategic agility, external resources and interorganisational collaborations on IT-enabled value propositions has shaped the core logic and fundamental assumptions of the two aforementioned concepts. Nevertheless, the relationship between digital capability and business model reconfiguration remains underinvested and largely elusive. In order to reconcile such fragmented literature, the aim of this study is to investigate the coevolutionary dynamics of digital capability and business model reconfigurations. Digital capability reflects on the organisational ability to identify IT-enabled opportunities and deploy IS/IT to mobilise resources and structures in order to exploit those opportunities. Business model reconfiguration encapsulates management agenda to elevate value propositions for customers, partners and other stakeholders in order to create and capture value. It entails altering organisational resources and processes to enable such value propositions. Empirical data that is used in this thesis is gathered from an insurance company and contains information about the internal and external contexts, decisions, actions and performance between 2008 and 2016. There are four major phases during this time period. As identified, during each, the company revised its strategic intentions, invested in new IS/IT and human resources and reconfigured its business model. Results of this study illustrate that organisational digital capability drives strategic intentions for co-exploration and co-exploitation of value with partners. Such emerging strategies shape the configuration of the firm’s business model, which in turn leads to investments for generating the required IS competencies. This process increases the organisational digital capability, which affects the future cycles. Development of each IS competency is a result of co- exploration strategies. It is likely that such IS competencies are leveraged for co-exploitation in the future phases. In addition, Business-to-Business (B2B) IS competencies are instrumental in operationalising business models: however, as the number of partners grow and configuration of business models change, dyadic connections are likely to be replaced by standard ones.          Strategies of co-exploration and co-exploitation could lead to innovative, adoptive or evolutionary business model reconfigurations. However, for incumbent organisations, business model innovation seems to follow several business model adaptations and evolutions. That is, a great deal of organisational learning and tinkering with business models, strategic intentions and technological backbone is needed to innovate business models. The final contribution of this research is the analytical model devised for exploring the essence of strategic decision making in dynamic environments. Based on the Appreciative Systems Model, the model illustrates how the perception of the constant flux of events and ideas leads to strategic intentions based on value and reality judgments, which in turn triggers action to operationalise those understandings. Both formulating the intentions and executing them will change future events, perceived ideas and emerging intentions based on evolving values and standards.

Abstract The purpose of this study is to explore the role of dynamic capability in business model change in Internet-based business start-ups and Internet-based business enterprises. This study reviews the literature on business models, business model change, and dynamic capability, and defines business model change as a dynamic capability that is expected to lead to increased speed of business change and competitive advantages over the long term. This empirical study of business model change is accomplished by the case study method. The study is based on field data of four case companies regarding entrepreneurs’, business developers’, and business leaders’ behavior and actions while they are utilizing the business model concept for the purpose of business change. This study approaches business model change as a dynamic capability from three dynamic capability cluster perspectives. It explores how businesses can use the concept of business model for business decisions as well as how they can use the concept of business model to improve the speed of business change after new business opportunities or threats are found. The analysis identifies the process of business model change and factors that affect business model change, and the outcomes are results from three dynamic capability clusters that Internet-based companies are able to follow in a fast-changing business environment. This study develops a posteriori model proposing that a dynamically capable business model change consists of sensing, seizing, and transforming activities to obtain successful business and competitive advantages over the long term. A posteriori model of business model change as a dynamic capability creates a framework to support a quick business model change, especially in a fast-changing business environment. This study adds a dynamic capability viewpoint to the business model literature pertaining to business modeling and business model change. Regarding the managerial implications, this study shows how entrepreneurs and business owners can utilize the concept of business model in order to support a quick business change and possibly gain a competitive advantage in the long term. The study results indicate that internal and external factors for business model change are company-specific and those vary between the start-up and enterprise. And thus, a successful business model change can be achieved through analyzing and further developing these company-specific factors. These factors can be seen as a micro foundation of dynamic capability, and development of these factors can improve competitive advantage. / Tiivistelmä Tässä tutkimuksessa tarkastellaan nuoreen Internet liiketoimintaan pohjautuvaan kasvuyritykseen ja kypsiin Internet liiketoimintaan pohjautuviin yrityksiin tehtyjä liiketoimintamallimuutoksia dynaamisten kyvykkyyksien näkökulmasta. Tutkimuksen aihetta lähestytään nuoren kasvuyrityksen sekä kypsien yritysten kannalta ja työn teoreettinen viitekehys rakennetaan liiketoimintamallin, liiketoimintamallimuutoksen sekä dynaamisen kyvykkyyden tutkimusjulkaisujen kautta. Työssä liiketoimintamallimuutos määritellään dynaamiseksi kyvykkyydeksi joka kehittyy eri toimintojen avulla. Tämä dynaaminen kyvykkyys voi mahdollistaa nopeamman liiketoimintamuutoksen ja pitkällä aikavälillä se voi vaikuttaa myös kilpailuedun saavuttamiseen. Työn empiirisessä osassa liiketoimintamallimuutosta tutkitaan tapaustutkimusmenetelmällä neljässä yrityksessä. Yrittäjien, liiketoimintakehittäjien, sekä johtajien käyttäytymistä ja toimenpiteitä tutkitaan liiketoimintamallikonseptin kautta muutostilanteessa. Yrittäjien, liiketoimintakehittäjien, sekä johtajien käyttäytymistä ja toimenpiteitä tutkitaan liiketoimintamallikonseptin kautta muutostilanteessa. Työssä dynaamista liiketoimintamallimuutosta lähestytään kolmen dynaamiselle kyvykkyydelle määritellyn klusterin kautta (havaitseminen, tarttuminen, sekä uhkien hallinta ja muuntautuminen). Nämä klusterit toimivat erityisesti silloin kun yritysten tulee tehdä nopeita liiketoimintapäätöksiä ja liiketoimintamuutoksia. Analyysissa tunnistetaan liiketoimintamallin muutosprosessi, sekä sisäiset ja ulkoiset tekijät joilla on vaikutusta liiketoimintamallimuutokseen. Lopputulokset ovat seuraus kolmesta dynaamisen ominaisuuden klusterista joita organisaatioiden tulisi huomioida nopeasti muuttuvassa ympäristössä. Tutkimuksessa kehitetään jälkikäteismalli jossa liiketoimintamallimuutos dynaamisena kyvykkyytenä synnytetään dynaamisen kyvykkyyden klustereissa esiintyvien toimenpiteiden kautta. Näiden toimenpiteiden avulla on mahdollista saavuttaa pitkällä aikavälillä menestystä ja mahdollisesti myös kilpailuetua. Jälkikäteismalli tukee dynaamista liiketoimintamallimuutosta nopeasti muuttuvassa liiketoimintaympäristössä. Työn teoreettinen kontribuutio on erityisesti dynaamisen kyvykkyyden näkökulma liiketoimintamallintamiseen ja liiketoimintamallimuutokseen. Työssä osoitetaan myös kuinka yrittäjät ja liiketoimintaomistajat voivat käytännössä hyödyntää liiketoimintamallikonseptia nopeasti tehtävään liiketoimintamuutokseen. Tutkimustulokset osoittavat, että sisäisillä ja ulkoisilla tekijöillä on vaikutusta liiketoimintamallimuutokseen. Nämä tekijät ovat yrityskohtaisia, ja nuoren kasvuyrityksen ja kypsien yritysten väliltä löytyy eroja. Sen vuoksi onnistunut liiketoimintamallimuutos voidaan tehdä näitä tekijöitä analysoimalla ja kehittämällä.

Urban air mobility has gained increased attention in recent years due to the emergence of novel technologies. Several use cases within different industries exist. These services can substitute existing services as well as offering entirely new ones. Previous research has focused on novel technologies and changes needed to be made in order for the technology to be established in the market. However, non-technological aspects are lacking, specifically concerning suitable business models. Thus, the role of business models, and changes related to these, required for a commercialization of urban air mobility services constitutes a research gap and are of interest for further exploration. To understand how actors are changing their business models to commercialize urban air mobility three different case studies were conducted on three projects focusing on use cases connected to urban air mobility. Interviews were used as the primary data gathering method, and in total 13 were conducted. The theoretical STOF framework, which delimits the business model into four domains, was used to identify potential changes. The main results indicate important future actors in a commercialization, the degree of change of these actors and potential challenges for them. Due to the uncertainty of the role business models play in a commercialization of urban air mobility services, this thesis will contribute to bridging this research gap. Concrete changes are identified, as well as specific business model areas in need of more attention. Furthermore, the thesis contributes to the literature concerning challenges related to urban air mobility services, as well as suggesting how they can be handled. Finally, the thesis evaluates and explains how the STOF framework can be extended to new industries. / Urban air mobility har fått ökad uppmärksamhet de senaste åren på grund av uppkomsten av nya teknologier. Flera användningsområden inom olika branscher existerar. Dessa tjänster kan ersätta befintliga tjänster samt erbjuda helt nya. Tidigare forskning har främst fokuserat på nya teknologier och förändringar som behöver göras för att tekniken ska etableras på marknaden. Emellertid saknas aspekter som inte är teknologiska, särskilt lämpliga affärsmodeller. Därmed är inte affärsmodellens roll samt nödvändiga förändringar relaterade till den för en kommersialisering av urban air mobility tillräckligt belysta och är därför intressant för vidare forskning. För att förstå hur aktörer ändrar sina affärsmodeller för att kommersialisera urban air mobility genomfördes tre olika fallstudier på tre projekt som fokuserar på användningsområden kopplade till urban air mobility. Den teoretiska STOF modellen, som avgränsar affärsmodellen i fyra områden, användes för att identifiera potentiella förändringar för de olika projektaktörernas affärsmodeller. De främsta resultaten indikerar vilka de viktiga framtida aktörerna i en kommersialisering är, graden av affärsmodellsförändring för dem, samt potentiella utmaningar. På grund av osäkerheten kring vilken roll affärsmodeller har vid kommersialisering av tjänster relaterade till urban air mobility bidrar denna avhandling till att ytterligare belysa detta forskningsområde. Konkret identifierar avhandlingen nödvändiga affärsmodellsförändringar för de olika aktörerna, samt specifika områden inom affärsmodellen som behöver mer uppmärksamhet. Dessutom bidrar avhandlingen till forskningslitteraturen om utmaningar relaterade till urban air mobility tjänster, samt föreslår hur de kan hanteras. Slutligen utvärderar och förklarar avhandlingen hur STOF modellen kan utökas till fler branscher än internetbaserade tjänster.

With an increased level of digitization in the retail sector, retail incumbents need to adapt their business model to the new digital era. E-commerce business and other digital tools have transformed the retail industry and incumbent retailers have to react to the changes in order to remain competitive on the market. While previous research has examined the nature of the digital tools in retail or the general impact of digital transformation on the sector, the thesis aims to investigate the impact of digital transformation on the business model of a retail incumbent. To investigate the impact of digital transformation on the business model of a retail incumbent, a single case study has been conducted at Company X, an incumbent retailer operating in Sweden. The Business Model Canvas has been used as a tool to identify the current business model of the company, and to propose future business models for Company X. The findings have resulted in the creation of three different Business Model Canvas scenarios with different levels of change in the business model. The scenarios all implied an increased cooperation with external partners and the implementation of new customer channels.The findings of the thesis contribute to an increased knowledge of retail business model change. While earlier research findings regarding the impact of digital transformation on the retail sector were confirmed in the case study, the thesis proposes new research concerning the impact on a retail incumbent’s business model. The study also contributes to how the Business Model Canvas may be used as a unit of analysis when investigating business model change. / Med en ökad digitalisering inom detaljhandeln så behöver traditionella detaljhandlare anpassa deras affärsmodell till den nya digitala eran. E-handel och andra digitala verktyg har förändrat detaljhandeln och traditionella detaljhandlare måste reagera för att behålla deras konkurrenskraft. Medan tidigare forskning har undersökt olika digitala verktyg inom handeln, eller hur digitalisering har påverkat handelssektorn på en övergripande nivå, så är den här uppsatsens syfte att undersöka den digitala transformationens påverkan på en traditionell detaljhandlares affärsmodell. För att undersöka hur digitaliseringen påverkar en traditionell detaljhandlares affärsmodell så har en fallstudie genomförts hos Företag X, en traditionell detaljhandlare i Sverige. BusinessModel Canvas har använts som ett verktyg för att identifiera den nuvarande affärsmodellen och för att ge förslag på framtida affärsmodeller som Företag X kan implementera. Resultaten har bidragit till att skapa tre olika framtida scenarier av affärsmodellen Canvas. Samtliga scenarier innebär ett ökat samarbete med externa partners och implementering av nya kundkanaler. Uppsatsen bidrar med ökad kunskap om förändring av affärsmodeller inom detaljhandel. Tidigare forskning rörande digitaliseringens påverkan på handeln har bekräftats och uppsatsen bidrar med ny forskning rörande den digitala transformationens påverkan på en traditionell detaljhandlares affärsmodell. Studien bidrar också med kunskap om hur affärsmodellen Canvas kan användas som analysverktyg vid undersökning av förändring av affärsmodeller.