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Business Models and Value

Baden-Fuller, C., Giudici, A., Haefliger, S. & Morgan, M. (2017). Business Models and Value. Academy of Management Proceedings, 2017(1),


We identify the business model as the mechanism that explains how a firm engages with consumers to create and capture value. We look into the literatures of marketing, strategy, entrepreneurship to identify 4 important – mutually exclusive - theoretical types: dyadic product; dyadic solutions; triadic matchmaking; and triadic multi-sided. Each of these business model types implies a different set of behaviors by the consumer; different actions by the firm; and give rise to differences in value for the consumer; profit opportunities for the firm; different organizational designs and corresponding entrepreneurial pathways. Our paper draws on and extends the current literature on the demand side perspective and effectuation.

Publication Type: Article
Additional Information: For an abbreviated version without figures see the DOI:
Publisher Keywords: Business Models, Types, Value
Departments: Bayes Business School > Management
Text - Accepted Version
Available under License Creative Commons Attribution Non-commercial No Derivatives.

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