Business Model and Business Model Innovation” – A Literature Review
1.0 Introduction Since the rise of digital technology, literature has tried to grasp just how technology will innovate business models and their applications. The purpose of this report is to outline, define, and critique the literature surrounding business models and business model innovation. Drawing on contemporary examples, this report will compare definitions with current day practices in order to provide a constructive and real-world context to the theories provided. Specifically, we will look at two contemporary trends in business model literature; being the rise of the 'freemium' business model, and the reconceptualization of digital business strategies within overall business models. This report will then provide recommendations for Beta_Digital's business model in the future, based on an analysis of their business model. This is done with the hope that Beta_Digital can utilise our report to innovate and adapt their current business model, to be a leader within t...