Pozzi Giulia

Pigni Federico

Vitari Claudio

Buonanno Giacomo

Raguseo Elisabetta

A State-of-the-Art Literature Review of the Business Model Concept in the IS Discipline

Keywords: Business Model, Literature Review, Information Systems

Although the Business Model (BM) concept provides a convenient unit for analyzing business practices, BM research in the Information Systems (IS) field reveals that there is a lack of consensus about definitions of the BM concept, and divergences and blurriness about the structure of such models. The aim of this paper is to provide a comprehensive state of the art review of BM research in the IS domain, and so highlight important research avenues. We review the titles and abstracts of 115 papers, examine a subset of 54 significant papers, and code 28 separate definitions of the BM concept. Our work makes three main contributions. First, it up-dates previous literature analysis in BM in the IS discipline. Second, it helps alleviate the fuzziness associated with BM definitions, identifying BM essence, components, characteristics and functions as fundamental dimensions of the BM definition. Third it defines four main BM uses, so enriching research on BMs from different angles.

Introduction

Business Models (BMs) depict the ways companies create and capture value [START_REF] Burkhart | Analyzing the BM Concept -A Comprehensive Classification of Literature[END_REF][START_REF] Krumeich | Towards a Component-based Description of BMs: A State-of-the-Art Analysis[END_REF]Osterwalder, Pigneur, & Tucci, 2005).

The BM concept was established during the dot-com era, and interest in the concept in the Information Systems (IS) field has grown ever since. Indeed, the BM concept and the IS field are closely linked (Osterwalder & Pigneur, 2013;Osterwalder et al., 2005). The BM concept facilitates the choice of the appropriate business architecture, as it serves as a high-level model of the company from which business processes are developed and IS are derived. The IS discipline contributes to business modelling: computer-aided design (CAD) assists the process of designing BMs (Osterwalder & Pigneur, 2013) and Business Modelling Engineering Tools (BMETs) are used to monitor key performance indicators (KPI) and support the company business activities in real time [START_REF] Valentin | Towards a Framework for Transforming BMs into Business Processes[END_REF][START_REF] Valentin | Architecture and Implementation of a Decision Support System for Software Industry BMs[END_REF]. Moreover, advances in Information Technologies (IT) are drivers for BM innovation and new BM creation [START_REF] Baden-Fuller | BMs and Technological Innovation[END_REF][START_REF] Teece | BMs, Business Strategy and Innovation[END_REF].

At the same time, research on BMs has developed within other disciplines, and there are currently intense debates in both strategy and marketing research in their attempts to theorize the concept. For example, there have been extensive discussions in the strategy field about the difference between strategy and BMs (e.g. [START_REF] Casadesus-Masanell | From Strategy to BMs and onto Tactics[END_REF][START_REF] Dasilva | BM: What It Is and What It Is Not[END_REF][START_REF] Magretta | Why BMs Matter[END_REF], about BMs as descriptions of firm activities (e.g. (C. Zott & Amit, 2010;Christoph Zott, Amit, & Massa, 2011a), and about BMs as cognitive devices (e.g. [START_REF] Baden-Fuller | BMs and Technological Innovation[END_REF]Baden-Fuller & Morgan, 2010a;[START_REF] Martins | Unlocking the Hidden Value of Concepts: A Cognitive Approach to BM Innovation[END_REF].

Consequently, several definitions of BM exist across and even within disciplines. This variation stems from the multiple origins of the BM concept and the multiple research agendas in which it features (Pateli & Giaglis, 2004;[START_REF] Shafer | The power of BMs[END_REF]. Depending on their particular interests, researchers highlight particular BM characteristics and functions. The IS discipline displays a similar pattern. BM definitions vary from descriptions of the workings of a company and its processes [START_REF] Burkhart | Analyzing the BM Concept -A Comprehensive Classification of Literature[END_REF], to graphical representations of its value generating components (Osterwalder & Pigneur, 2010). These factors contribute to the "fuzziness" of the BM definition, its boundaries and compositional facets.

A first attempt to reduce this blurriness was made in 2010 by [START_REF] Al-Debei | Developing a unified framework of the BM concept[END_REF]. Their in-depth literature review came to the same conclusion as other studies had (Osterwalder & Pigneur, 2013;[START_REF] Teece | BMs, Business Strategy and Innovation[END_REF], and called for deeper investigations into the essence of the BM concept, the elements that make up BMs' components, its characteristics and its practical functions. Further, the richness of BM studies in the IS field suggests the value of undertaking a mono-disciplinary analysis of the BM concept, something that is still missing in the IS literature, despite the fact that discussion of the concept is often found in journals and conferences' proceedings. We believe that a comprehensive literature review that examines the use of the BM concept in the IS field can help provide a more complete perspective. So this paper aims not only to follow up [START_REF] Al-Debei | Developing a unified framework of the BM concept[END_REF] first research effort with an up-todate literature analysis, but to advance and clarify the definition and concept of the BM by providing a useful account of BM in the IS domain. Our analysis identifies four structural dimensions of the BM definition and suggests new perspectives for future research.

With this paper, we seek to answer to three research questions. First, we aim to analyze the dimensions of the BM concept as it is used in the IS field, highlighting similarities and divergences; hence the first research question is "What are the definitions of the BM in the IS domain?". Second, we aim to respond to previous studies' calls for clarification, introducing an effective definition of the components of BMs by identifying and describing their contributory elements; hence the second research question is "Which are the elements of the BM components?". Third, we aim to build on prior BM research to inform our understanding of the BM concept in the IS field, to clarify gaps in the literature, and to provide directions for future research; hence the third research question is "How does the BM concept inform the IS domain?"

The rest of the paper is structured as follows. In the next section we highlight the significance of the BM concept in the IS field. We then describe the research methods we employed to select and analyze the literature. Next, we analyze semantically the different definitions of the BM concept proposed by authors from the IS field, and then present and discuss our literature review by categorizing authors' contributions into concept-matrices. Finally, we discuss the contributions our work makes and suggest some future research directions, before offering some concluding remarks.

The Importance of BM Research in IS Discipline

The IS discipline recognizes the importance of three fundamental aspects of the BM concept [START_REF] Al-Debei | Developing a unified framework of the BM concept[END_REF][START_REF] Burkhart | Analyzing the BM Concept -A Comprehensive Classification of Literature[END_REF]Osterwalder et al., 2005) [START_REF] Al-Debei | Developing a unified framework of the BM concept[END_REF][START_REF] Burkhart | Analyzing the BM Concept -A Comprehensive Classification of Literature[END_REF]Osterwalder et al., 2005) [START_REF] Al-Debei | Developing a unified framework of the BM concept[END_REF][START_REF] Burkhart | Analyzing the BM Concept -A Comprehensive Classification of Literature[END_REF]Osterwalder et al., 2005). First, the BM concept supports the strategic alignment of a firm's information systems to its strategy. Second, IS is significantly involved in business modeling and business performance measurement processes. Third, advances in IT are major drivers of BM innovation.

Concerning the strategic alignment, the BM serves as a high-level representation of a company's business logic, from which its business processes and IS engineering requirements are derived. IS infrastructures support process activities that promote the development of particular products or services, as well as the company's architectural structures and its relationships. Therefore, understanding a company's BM facilitates its IS infrastructure choices. To succeed, a company's strategy and business processes, along with its IS, have to be aligned to ensure the achievement of its goals and objectives. In this sense, the BM concept helps increase mutual understanding and integration between a firm's strategy and its IS [START_REF] Al-Debei | Developing a unified framework of the BM concept[END_REF][START_REF] Burkhart | Analyzing the BM Concept -A Comprehensive Classification of Literature[END_REF]Osterwalder & Pigneur, 2010[START_REF] Eckhardt | Opportunities in BM research[END_REF]Osterwalder et al., 2005). Recent strategy literature has also analyzed the co-existence of multiple BMs within the same company (Brea-Solís, Casadesus-Masanell, & Grifell-Tatjé, 2015; [START_REF] Markides | Competing with dual BMs: a contingency approach[END_REF]Øiestad & Bugge, 2014;[START_REF] Sabatier | From Recipe to Dinner: BM Portfolios in the European Biopharmaceutical Industry[END_REF], and these studies reinforce the role of BMs in facilitating IS strategic alignment.

Concerning business modeling, IS positively contributes to strategic objectives' design, decision support system implementation, and processes validation [START_REF] Beath | Expanding the Frontiers of Information Systems Research: Introduction to the Special Issue[END_REF]Osterwalder & Pigneur, 2013). More specifically, computer-aided design (CAD) assists the BM design processes by supporting visualizations to assist thinking activities, and BM prototyping, enabling deep comprehensive analysis, remote collaboration and quick simulations [START_REF] Burkhart | Analyzing the BM Concept -A Comprehensive Classification of Literature[END_REF]Osterwalder & Pigneur, 2010[START_REF] Eckhardt | Opportunities in BM research[END_REF]Osterwalder et al., 2005). In addition to CAD assistance, BMETs monitor the performances of existing BMs via the real-time measurements of indicators. By using these tools, firms can modify their existing BMs based on defined industry-specific KPIs. BMTEs help companies to monitor their BMs to reveal strengths, weaknesses, opportunities and threats, and to predict sales and profit levels in different market scenarios [START_REF] Valentin | Architecture and Implementation of a Decision Support System for Software Industry BMs[END_REF]. While other disciplines provide representations of BMs (e.g. [START_REF] Demil | BM Evolution: In Search of Dynamic Consistency[END_REF], their operationalization is studied in deeper and more sophisticated ways in the IS field.

Concerning BM innovation, the increasing appearance of the BM concept in literature since the early 2000's, that has been noted by researchers [START_REF] Burkhart | Analyzing the BM Concept -A Comprehensive Classification of Literature[END_REF][START_REF] Lambert | A Conceptual Framework for BM Research[END_REF]Osterwalder et al., 2005), has mainly been caused by the growing use of internet based IT infrastructures in business activities. As result, technology has been able to create and shape digital BMs [START_REF] Al-Debei | Developing a unified framework of the BM concept[END_REF]Oestreicher-Singer & Zalmanson, 2013). In recent years, IT advances have also been primary drivers of BM innovation, which refers to innovating the fundamental logics of how organizations create, deliver and capture value [START_REF] Fichman | Digital Innovation as a Fundamental and Powerful Concept in the Information Systems Curriculum[END_REF][START_REF] John | Modeling Languages for BMs as Tools for Innovation: Towards a Theoretical Foundation[END_REF]. As a result, considering BM has become vital for IS managers and practitioners, who must be able to understand how to exploit the technology to develop innovative BMs to better satisfy customers' demands and needs.

Despite the fact that the IS field recognizes the relevance of BM research, the significance of the concept and its growing central role in IS discussions have not led to a convergence. The BM definition and concept in IS literature are still fuzzy, and little consensus exists regarding BM components.

Research Methodology

We follow [START_REF] Webster | Analyzing the past to prepare for the future: Writing a literature review[END_REF] methodology to select relevant papers from the IS literature for analysis. We start by looking for relevant papers in leading IS journals according to the ranking proposed by [START_REF] Lowry | Evaluating Journal Quality and the Association for Information Systems Senior Scholars' Journal Basket Via Bibliometric Measures: Do Expert Journal Assessments Add Value?[END_REF], which includes MIS Quarterly, Information Systems Research, Journal of MIS, European Journal of Information Systems, Information Systems Journal, Journal of the Association of the Information Systems, and Journal of Strategic Information Systems. We use four databases for our research: ProQuest, EBSCO, ScienceDirect, and JSTOR archive. Following a previous study [START_REF] Merali | Information systems strategy: Past, present, future?[END_REF], we search for the keyword "BM(s)" in the titles or abstracts of papers from these journals within our specific time range (from 2009 to 2014), updating [START_REF] Al-Debei | Developing a unified framework of the BM concept[END_REF] study, which reviewed the literature published until 2008.

Following these criteria, we identify a total of 20 papers from selected journals (see Table 1). To broaden our search beyond this original set of journals, we also examine works of potential interest published in IS conference proceedings [START_REF] Webster | Analyzing the past to prepare for the future: Writing a literature review[END_REF], reviewing the proceedings of the ICIS, AMCIS, and HICSS conferences [START_REF] Hock Chuan Chan | Information systems citation patterns from International Conference on Information Systems papers[END_REF][START_REF] Walstrom | Forums for information systems scholars: III[END_REF]. This led us to identify a total of 95 additional conference papers, giving us an overall total of 115 papers.

To evaluate whether papers warranted inclusion in our literature review, at least one the following criteria had to be satisfied: 1) The paper concerns, or is relevant to, the BM definition and concept in IS; 2) The paper describes or identifies BM components [START_REF] Al-Debei | Defining the BM in the New World of Digital Business[END_REF]; 3) Even if primarily concerned with other research questions and topics, the paper discusses the BM concept, directly or indirectly.

Following the above criteria, we select 54 papers from the 115 initially identified papers for deeper analysis in our literature review (see Table 1). (2) Number of papers selected for deeper analysis.

We first perform a semantic analysis of the BM definitions the selected papers adopted to identify the main facets of the BM concept. Secondly, we categorize the literature in concept-matrices to understand the constituent elements of the BM components and the BM uses in the IS field.

To semantically analyze the BM definitions we code them (Miles, Huberman, & Saldaña, 2014) as encountered in the papers, performing two cycles of coding. Following the in Vivo coding methodology, we performed a first cycle coding extracting single words or short phrases from each definition, a method that is appropriate for studies that recognize and prioritize different authors' contributions (Miles et al., 2014). We then performed the second cycle coding to group the first cycle codes into categories that are more meaningful and parsimonious units of analysis, to identify emerging configurations or themes. Second cycle coding helps to find recurring phrases (i.e. in Vivo codes), revealing commonalities and divergences (Miles et al., 2014). To discover thematic patterns, codes are clustered into the same class only if they are thematically similar to each other, that is, they communicate the same or very similar semantic ideas about the concepts.

To deepen our understanding about the different elements of the BM components, and to understand how the BM concept informs the IS field, we categorize these thematic interpretations into conceptmatrices [START_REF] Webster | Analyzing the past to prepare for the future: Writing a literature review[END_REF], which classify objects that share common characteristics into conceptually meaningful groups. Concept-matrices are mechanisms that map different concepts, yielding structured groupings of similar data, and are thus effective means of communicating major findings and insights [START_REF] Webster | Analyzing the past to prepare for the future: Writing a literature review[END_REF]. Our concept-matrices allow for greater understanding of the elements of the BM components and of the different uses of the BM concept in the selected literature. On the basis of our semantic analysis, we build a first concept-matrix to deepen our understanding of the BM components. The second concept-matrix highlights the uses of BMs, which emerge as clusters from deductive abstractions of the similarities in the selected literature.

Literature Review

Results of the Semantic Analysis of the BM Definitions

We identified a total of 28 different definitions of BM from the papers we analyzed. Appendix A shows the definitions we extracted from the first and second cycles coding of our selected literature. The first cycle coding identifies in Vivo Codes, segments or single words of the BM definitions. By aggregating the first cycle codes, four dimensions of the BM definition -essence, components, characteristics and functions -emerged in our second cycle coding.

The first dimension includes codes that define the BM in terms of what it is, and so characterize the BM essence (see Figure 1). The semantic analysis highlights two alternative BM essences: (1) the majority (18 of the 24) definitions define the BM as a representation -as an abstraction of current or future business reality, where the BM is a description or a depiction of the business, framing its business logic; and (2) the other 6 definitions see the BM as a template, used to structure business operations -and, by extension, the whole organization -for value creation and capture.

The focal point of the BM definition is the business logic that it represents or models. The term business logic -synonymous with organization rationale -denotes all the architectural, co-operational, and financial arrangements and the interrelated organizational practices that a company runs to create, deliver, and capture value.

Figure 1 BM Essence

The second dimension concerns the BM components (see Figure 2). The codes in this dimension describe the main BM components that must be examined when designing, analyzing, and evaluating company business logics. BM components are value-based and aim to provide stakeholders (such as the organization itself, its customers and its partners) with the advantages they desire (i.e. economic values for stockholders; the products or services offered for customers). We can identify four BM components from the pattern coding. First, the value proposition which defines how value is created and delivered to the target customers through the offer of products and services. Second, the value architecture that deals with the key processes and resources necessary for the value proposition to be fulfilled. The key processes are all firm transactions, mainly input and output transformations, and product or service distribution, while the key resources include the company's people, assets and all the knowledge and competencies it has acquired during its business history. Technologies are part of the business resources and enable the firm's transactions with external business constituents and product markets [START_REF] Rai | Information Technology-Enabled BMs: A Conceptual Framework and a Coevolution Perspective for Future Research[END_REF]. In the BM definitions considered in our analysis, the technological architecture comprises the service platforms and the devices and applications a business uses to create value (Björn [START_REF] Kijl | Developing a BM engineering & experimentation tool -the quest for scalable "lollapalooza confluence patterns[END_REF][START_REF] Rai | Information Technology-Enabled BMs: A Conceptual Framework and a Coevolution Perspective for Future Research[END_REF]. Third, the value network which includes the external network of partners that the company mobilizes to deliver the value proposition to its customers. Forth, the value capture component that concerns how organizations manage monetization issues, and relates to the financial value the company generates in its transactions.

Figure 2 BM Components

The third dimension gathers codes that describe the BM in terms of its characteristics (see Figure 3).

From the analysis of the BM definitions, we can abstract six characteristics: 1) the BM is an important tool the company can use to depict its business logic [START_REF] Buder | Evaluating BMs: Evidence on User Understanding and Impact to BPM Correspondence[END_REF]; 2) the BM is not limited to a specific type of business, but the concept is generally applicable to any firm in any sector [START_REF] Burkhart | Analyzing the BM Concept -A Comprehensive Classification of Literature[END_REF]; 3) the property of dynamism reflects the fact that BM properties can change over time. A firm should both concentrate on its actual state (analyzing its BM at specific moments in time) and on its future evolution, considering possible different configurations the BM could assume as the firm business evolves over time [START_REF] Burkhart | Analyzing the BM Concept -A Comprehensive Classification of Literature[END_REF]; 4) the BM concept is user-addressable, and can be useful to address several intended audience types, both internal and external [START_REF] Burkhart | Analyzing the BM Concept -A Comprehensive Classification of Literature[END_REF]; 5) the BM has the characteristic of being concise, and so is able to provide a highly aggregated level view of the company [START_REF] Burkhart | Analyzing the BM Concept -A Comprehensive Classification of Literature[END_REF][START_REF] Lindman | Industrial Open Data: Case Studies of Early Open Data Entrepreneurs[END_REF][START_REF] Zolnowski | Customer Integration in Service BMs[END_REF]; 6) the BM is conceptual, in that it offers a simplification of a current or future business reality [START_REF] Al-Debei | Developing a unified framework of the BM concept[END_REF][START_REF] Feller | Open innovation and public administration: transformational typologies and BM impacts[END_REF].

Figure 3 BM Characteristics

Codes indicating the roles BM play, and the benefits organizations can achieve by employing the concept appropriately suggest a fourth dimension -that of the BM functions (see Figure 4). Two can be identified: the BM supports the execution of business processes [START_REF] Buder | Evaluating BMs: Evidence on User Understanding and Impact to BPM Correspondence[END_REF] [START_REF] Sitoh | The roles of opportunity processes in a social BM: insights from China's ecommerce villages[END_REF].

Figure 4 BM Functions

Our analysis shows that all 28 definitions depict the BM through its components; and while 24 of the 28 definitions focus on the BM essence, the other two dimensions are much less covered in literature -6 of the 28 highlight BM characteristics and only 2 refer to BM functions. Most definitions refer to more than one dimension. The majority of the definitions (21 out of 28) define the BM in terms of its essence and components; five definitions specify the BM essence, BM components and BM characteristics (Aldebei et al., 2008;[START_REF] Burkhart | Analyzing the BM Concept -A Comprehensive Classification of Literature[END_REF][START_REF] Valentin | Towards a BM Framework for E-learning Companies[END_REF][START_REF] Feller | Open innovation and public administration: transformational typologies and BM impacts[END_REF][START_REF] Zolnowski | Customer Integration in Service BMs[END_REF]; while one covers the dimensions of BM essence, BM components and BM functions [START_REF] Sitoh | The roles of opportunity processes in a social BM: insights from China's ecommerce villages[END_REF]. Only one definition [START_REF] Buder | Evaluating BMs: Evidence on User Understanding and Impact to BPM Correspondence[END_REF]) covers all the four dimensions defined in the second cycle coding.

Our analysis also highlights that few authors (9 out of 28) propose their own BM definitions (see Appendix A ), enriching this aspect of BM research: the majority (19) of the definitions they offer refer to previous BM definitions. The most cited BM definitions in the IS field are those of [START_REF] Bouwman | A BM for IPTV service: a dynamic framework[END_REF][START_REF] Timmers | BMs for Electronic Markets[END_REF], and the second most often cited are those of (Osterwalder et al., 2005). From our analysis, the majority (11 out of 19) of the definitions cited are from outside the IS field, most coming from the economics and strategy domains.

Results of the BM Literature Categorization

The Elements of the BM Components

In order to define the BM components in an effective way, we consider the 'elements' that are commonly used in the IS literature.

The use of the concept-matrix for the categorization of the selected BM studies facilitates our analysis of the elements of the BM components (see Figure 5). The first categorization of the selected studies is based on the BM components -value proposition, value architecture, value network, and value

A Support for the Execution of the Business Processes

Opportunity Exploitation capture -identified during the semantic analysis (as shown in Appendix B ).

The value proposition is focused on customers' needs, and on the products or services offered to satisfy those needs. Value is created for customers and users by offering a desired product or service targeted towards particular market segment(s). The value proposition describes the products and services offered, and the customers with whom the company is engaged. The analyses by [START_REF] Krumeich | Towards a Component-based Description of BMs: A State-of-the-Art Analysis[END_REF][START_REF] Krumeich | Interdependencies between BM Components -A Literature Analysis[END_REF] differ from others, linking the concept of competitive advantage to the value proposition, as a contribution to long-term business sustainability. The term competitive advantage formulates the extent to which a firm's BM differs from those of its competitors, and how it can be sustained for strategic business growth. [START_REF] Valentin | Architecture and Implementation of a Decision Support System for Software Industry BMs[END_REF] argue that the selling proposition and the different products or services offered in a business value proposition define the business strategy.

Three internal company elements are identified within the value architecture component: activities and processes, resources and competences. The activities and processes enable the development of the products or services offered and describe the most important things a company must do to make its BM work; the resources, tangible and intangible (including human assets), describe the most important requirements to make a BM work; while the competences include the expertise, abilities and skills necessary to execute the company's BM. It is important to note that activities and resources together make up the so-called value configuration [START_REF] Feller | Open innovation and public administration: transformational typologies and BM impacts[END_REF][START_REF] Malsbender | Capitalizing on Social Media Analysis -Insights from an Online Review on BMs[END_REF][START_REF] Rensmann | Two-sided Cybermediary Platforms: The Case of Hotel[END_REF]. When not included in the resources, technology is identified as a separate element, and describes the technological architectures of the service platform, of devices and their applications, and of the development environment which a business needs to run (Di Valentin et al., 2013;Björn Kijl & Boersma, 2010;[START_REF] Labes | Common Patterns of Cloud BMs[END_REF][START_REF] Malsbender | Capitalizing on Social Media Analysis -Insights from an Online Review on BMs[END_REF][START_REF] Zolnowski | Business modeling for services: Current state and research perspectives[END_REF].

The Value network concerns what is external to the focal company, and has three different elements: infrastructure management, customer interface, and communication flow. The infrastructure management includes the partner network (Di Valentin et al., 2014) -the corporate agreements the firms has with other companies and the technological partners that are necessary to allow it to offer, distribute and commercialize the value it creates. The customer interface identifies the relationships and the types of links a company establishes, specifically between itself and its different customer segments, while the communication flow [START_REF] Krumeich | Towards a Component-based Description of BMs: A State-of-the-Art Analysis[END_REF]Osterwalder & Pigneur, 2010) identifies the ways in which a company reaches its stakeholders to deliver its value proposition(s).

Value capture represents the financial aspects of the BM concept: the most frequently noted elements in this component are the company's cost and revenue models. The cost model sums up the financial consequences of the means employed in the BM, while the revenue model describes how the company makes money through a variety of revenue flows. Others elements belonging to this component appear less often in the value finance definition. The pricing model covers the pricing of the product and the service offered [START_REF] Valentin | Architecture and Implementation of a Decision Support System for Software Industry BMs[END_REF]Björn Kijl & Boersma, 2010;[START_REF] Krumeich | Towards a Component-based Description of BMs: A State-of-the-Art Analysis[END_REF][START_REF] Krumeich | Interdependencies between BM Components -A Literature Analysis[END_REF][START_REF] Malsbender | Capitalizing on Social Media Analysis -Insights from an Online Review on BMs[END_REF], while the distribution model indicates how all the investments, cost and revenues are shared among value network participants to ensure the sustainable financing of value creation [START_REF] Krumeich | Towards a Component-based Description of BMs: A State-of-the-Art Analysis[END_REF][START_REF] Krumeich | Interdependencies between BM Components -A Literature Analysis[END_REF]. Investment and funding source models indicate the sources of the capital used to operate the BM (Björn [START_REF] Kijl | Developing a BM engineering & experimentation tool -the quest for scalable "lollapalooza confluence patterns[END_REF][START_REF] Krumeich | Towards a Component-based Description of BMs: A State-of-the-Art Analysis[END_REF], and the profit model defines the results of the pricing, revenue and cost models [START_REF] Krumeich | Towards a Component-based Description of BMs: A State-of-the-Art Analysis[END_REF].

Figure 5 Elements of BM Components

The uses of the BM concept

Our analysis reveals that the studies addressing BMs in the IS discipline have all been associated with four major uses of the BM concept (see Figure 6), as described in Appendix B .

First, BMs are used to map specific business structures and build taxonomies in 26 papers out of 54 papers, identifying types of BM and describing sets of businesses with common characteristics. (Giessmann, Fritz, Caton, & Legner, 2013;[START_REF] Giessmann | Towards a Better Understanding of the Dynamics of Platform as a Service BMs[END_REF]Kuebel & Zarnekow, 2014) provide taxonomies for Platform as a Service (PaaS) industries. IS researchers' interests focus mainly on the software industry, where the value proposition includes the provision of systems, IT infrastructures and consultancy, to both public and private bodies, that facilitate better communication, enable business process improvements, and save time and money [START_REF] Brockmann | BMs of ERP System Providers[END_REF][START_REF] Chen | Community-Based Recommender Systems: Analyzing BMs from a Systems Operator's Perspective[END_REF][START_REF] Hochstein | Business Opportunities with Web Services in the Case of Ebay[END_REF]. Other industry fields are studied in contributions by [START_REF] Goh | Disruptive technology: How Kodak missed the digital photography revolution[END_REF][START_REF] Tay | Disintermediation of traditional chemical intermediary roles in the Electronic Business-to-Business (e-B2B) exchange world[END_REF].

Second, BMs are used as analytical lenses to describe both the interplay between strategy and operations and the configuration of value creating activities (17 of 54 papers).

This use recognizes the BM as an intermediate layer [START_REF] Burkhart | Analyzing the BM Concept -A Comprehensive Classification of Literature[END_REF][START_REF] Valentin | Towards a Framework for Transforming BMs into Business Processes[END_REF] and alignment instrument between strategy and business processes. The BM derives from the firm's strategy and therefore reflects it: it offers the basis for the design of company business processes and the related IS infrastructure that supports business activities. So the BM is a powerful tool to align business processes and IS with the company's strategic objectives. Within this context, the BM is used to evaluate the impacts of different strategies [START_REF] Clemons | BMs for Monetizing Internet Applications and Web Sites: Experience, Theory, and Predictions[END_REF][START_REF] Demirkan | Coordination Strategies in an SaaS Supply Chain[END_REF][START_REF] Deodhar | Strategies for software-based hybrid BMs[END_REF][START_REF] Tay | Disintermediation of traditional chemical intermediary roles in the Electronic Business-to-Business (e-B2B) exchange world[END_REF] and technological trends [START_REF] Feller | Open innovation and public administration: transformational typologies and BM impacts[END_REF][START_REF] Loebbecke | Extending Successful eBMs to the Mobile Internet: The Case of Sedo's Domain Parking[END_REF]Morgan & Conboy, 2013;Oestreicher-Singer & Zalmanson, 2013) on business processes and on the industry's supply chain. The BM is a result of the company's strategic choices [START_REF] Sitoh | Information System Strategy for Opportunity Discovery and Exploitation: Insights from BM Transformation[END_REF]) and, through their execution, determines their success [START_REF] Keen | Value Architectures for Digital Business: Beyond the BM[END_REF].

The BM is the basis for describing and defining operations [START_REF] Bonakdar | Transformative Influence of Business Processes on the BM: Classifying the State of the Practice in the Software Industry[END_REF][START_REF] Buder | Evaluating BMs: Evidence on User Understanding and Impact to BPM Correspondence[END_REF]. This use requires the identification of the processes and activities of the value chain that shape the creation and exchange of value.

Within this context, the BM is seen as a static representation, a description via which to explore the impacts of different strategies on the company's strategic positioning and operations.

Third, BMs are used to define and describe the different business components and their relationships (in 8 of 54 papers). The authors focus their searches on the BM components, and on discovering and depicting their structural relations at an abstract level [START_REF] Krumeich | Interdependencies between BM Components -A Literature Analysis[END_REF][START_REF] Zolnowski | Customer Integration in Service BMs[END_REF]. Without a thorough knowledge of the business components, and their relationships, it is difficult to optimize, transform or innovate the company's value creation and capture processes successfully.

The value capture component is analyzed deeply in the IS literature. Authors search for alternative revenue models to on-line advertising for Interned-based content distribution industries [START_REF] Clemons | BMs for Monetizing Internet Applications and Web Sites: Experience, Theory, and Predictions[END_REF][START_REF] Kundisch | BM Representation Incorporating Real Options: An Extension of e3-Value[END_REF][START_REF] Lin | Vertical Differentiation and a Comparison of Online Advertising Models[END_REF][START_REF] Susarla | A Transaction Cost Perspective of the "Software as a Service[END_REF].

Filling a major gap in the BM concept highlighted by [START_REF] Burkhart | Analyzing the BM Concept -A Comprehensive Classification of Literature[END_REF], [START_REF] Krumeich | Interdependencies between BM Components -A Literature Analysis[END_REF] analyze the interdependencies between BM components, and show that almost every BM component is connected to the others, making all their inter-relations structural and indisputably important.

Fourth, BMs are used as tools for BM design and business modeling, to help understand and analyze strategic business issues (again, 8 papers of 54). Business modeling facilitates the development of different approaches to creating and capturing value. This use sees the BM as a tool for business design, implementation and performance evaluation. Literature offers algorithms to design BMs (Bjorn [START_REF] Kijl | Deploying a Telerehabilitation Service Innovation: An Early Stage BM Engineering Approach[END_REF], both for newly developing businesses and for established companies undertaking BM innovation, and emphasizes the notion of BM design as part of the innovation processes -in fact, the development of innovation is linked to the shaping of a coherent BM [START_REF] Zolnowski | Business modeling for services: Current state and research perspectives[END_REF].

BM design and business modeling is supported by engineering tools such as CAD and BMETs. The application of CAD assists the processes of designing, prototyping and simulating strategic business objects, such as BMs (Osterwalder & Pigneur, 2013). This use also includes the application of BMETs to helping improve BMs validation and implementation. BMETs provide critical insights related to the viability of BMs in different scenarios. By analyzing the different performance indicators that form the outputs of such tools, companies can monitor, test, adapt and fine tune their BMs [START_REF] Valentin | Architecture and Implementation of a Decision Support System for Software Industry BMs[END_REF]Björn Kijl & Boersma, 2010;Bjorn Kijl & Nieuwenhuis, 2010).

Figure 6 BM Uses

Discussion

Our critical analysis of the existing views of the BM concept highlights important implications following discussed.

14

Map Specific Businesses -Build Taxonomy

Describe the Interplay between Strategy and Operations and the Configuration of Value

Describe Different Business Components and their Relationships Business Model Design and Business Modeling

First, there is an overlap between BM definitions. Despite the lack of consensus about the definitions of BM among IS scholars, our close examination reveals that there is a considerable overlap in the dimensions that were coded in each definition. Generally speaking, BM definitions coalesce around two different and alternative essences of the BM concept, and four value-based components.

As far as its essence is concerned, the BM can be seen as a representation or as a template of a company's business logic. The definition of the BM as a representation seems to imply that its function is to provide a generic level description of how a company creates and distributes value in a profitable manner, while (as identified in our study) defining the BM essence as a template seems to suggest instead that the BM functions more as a blueprint or a recipe. This difference has received specific attention in work in the strategy discipline (e.g. Baden-Fuller and Morgan, 2010). By describing the company's business behavior, the BM concept can be used as a classifying device that is valuable both in expanding our understanding of business phenomena and in developing useful taxonomies. In our literature review, this dimension of the BM essence is highlighted by its use as a tool to build taxonomies. The notion of recipe, in contrast, gives scholars a way to describe different types of business behaviors, and managers an outline of how to do something so that the result will come out as expected. In this sense, the BM offers a way to copy successful businesses' structures and practices by providing descriptions of those businesses that integrate the elements of the firm's activity with a set of rules, which, if followed, can be expected to produce particular outcomes. However, this difference between the two definitions does not seem clear in the literature we analyzed: BMs seem to be defined indiscriminately as representations or as templates among the four uses that we identified.

We therefore call for a deeper investigation into the essence of BMs and the use of these two alternative meanings.

All the BM definitions analyzed are broken down into BM components. Value proposition, value architecture, value network, and value capture fully describe the operational, architectural and financial arrangements of a company.

We believe that defining the BM in terms of the four dimensions highlighted by our analysis -BM essence, BM components, BM characteristics and BM functions -is exhaustive. All the definitions we observed considered the dimensions of the BM essence and BM components. At the level of the BM essence as a representation, we highlight (among others) [START_REF] Kundisch | BM Representation Incorporating Real Options: An Extension of e3-Value[END_REF] definition: "A BM is the representation of a firm's underlying core logic". The notion of the BM essence as a template is clearly taken into account in [START_REF] Rai | Information Technology-Enabled BMs: A Conceptual Framework and a Coevolution Perspective for Future Research[END_REF] definition: "The BM is the structural template that describes the organization of a focal firm's transactions". At the BM components level, among others. [START_REF] Feller | Open innovation and public administration: transformational typologies and BM impacts[END_REF] provide a definition that highlights all four components: "The BM is a description of the value a company offers to one or several segments of customers, and of the firm and its network of partners for creating, marketing and delivering this value to generate profitable and sustainable revenue streams".

However, as our results suggest, BM characteristics and functions are less often included in BM definitions in the literature, so we call for further clarification about these two dimensions. Furthermore, we need to ask, "Are there any additional relevant dimensions that do not figure in our contribution? Is there a minimum number of dimensions required to define the BM concept adequately?" Exploring this aspect of the BM research could address the limits of the current research, and facilitate a deeper understanding of the BM concept.

Second, BM elements are presented. This paper presents an analysis of the elements of BM components, answering the call for their deeper investigation. The representation we develop (see Figure 5) synthesizes the elements of each BM component to form a complete structure of the concept. The framework presented here is generally applicable, and does not focus on any one industry in particular -so researchers can use it as a solid base to design, describe and analyze specific BMs, and it can set the basis for developing taxonomies. From a practical perspective, this framework can enhance an organization's ability to manage its existing and future BMs.

Our representation enriches the range of BM representations available in the IS literature. Our analysis has enabled us to identify several recurrent and generally applicable BM representations (Al-debei & Avison, 2010; [START_REF] Bouwman | A BM for IPTV service: a dynamic framework[END_REF]Gordijn & Akkermans, 2001a, 2001b;[START_REF] Krumeich | Towards a Component-based Description of BMs: A State-of-the-Art Analysis[END_REF]Osterwalder et al., 2005;[START_REF] Zolnowski | Business modeling for services: Current state and research perspectives[END_REF], on which IS scholars have created different taxonomies. We believe that more focus on different BM representations will help a greater understanding of the essence and components of the BM concept, and facilitate BM design. As the different BM representations are currently used indiscriminately to support all the four BM uses that our analysis reveals, we believe that further research could help identify the appropriate BM representations for each specific BM use.

Third, a framework of BM uses is provided. As noted above, the BM is an important concept that makes multiple contributions to the IS literature. We confirm these contributions in the literature we have analyzed, and we add four other contributions. The literature reveals four major uses of the BM concept: to map specific business sectors or industries and create taxonomies; to describe the interplay between strategy and operations and the configuration of value; to describe different business components and their relationships; and as a tool for BM design and business modeling. We believe that our analysis is a first attempt to classify the uses of the BM concept in the IS field.

Our analysis focuses on the use of the BM as tool to design and analyze business performances.

However, on the subject of BM design, management and evaluation, little has been said about the users of the BM concept. Shedding light on the users of CAD systems and BMETs would reveal useful managerial implications in terms of the competences and skills required. Furthermore, BMETs for BM design and management are mainly used in the software industry, although we believe BMETs could be exported to other industries and bring similar results to those observed in that setting: so further research could be undertaken in this area. Moreover, considering BM design as part of the innovation process opens discussion about the use of CAD and BMETs to innovate BMs. BM innovation is defined as the development of significant new ways of creating and capturing business value [START_REF] Fichman | Digital Innovation as a Fundamental and Powerful Concept in the Information Systems Curriculum[END_REF] -further investigation is needed as to how these tools can support BM innovation.

Research in the IS field offers great possibilities to enrich other fields. Many strategy scholars have called for better BM design tools and BM representations [START_REF] Baden-Fuller | BMs and Technological Innovation[END_REF][START_REF] Eckhardt | Opportunities in BM research[END_REF]Christoph Zott & Amit, 2013). We have seen in this paper that the IS field benefits from many contributions and could help operationalize BM design and BM innovation. In addition, as research on BMs portfolios progresses, the level of complexity increases, and medium and large companies need systematic tools to balance the risks and promises, and manage the tensions and synergies generated by and within BM portfolios [START_REF] Sabatier | From Recipe to Dinner: BM Portfolios in the European Biopharmaceutical Industry[END_REF]. Further, contributions from the IS field linking BM to firm performance could fill important gaps in strategy and marketing, and answer calls by many scholars for the better evaluation and metrics of BMs (R. Amit & Zott, 2008;[START_REF] Frankenberger | Network configuration, customer centricity, and performance of open BMs: A solution provider perspective[END_REF]Gerasymenko, De Clercq, & Sapienza, 2015).

Conclusions

We reviewed the abstracts and titles of 115 papers from the IS literature from 2009 to 2014, and categorized 54 relevant studies: from these, we coded 28 different definitions of BMs. Based on this review, we improved the current situation by providing a more refined structure to the BM concept.

Building on previous studies, we clarified the BM concept in terms of its dimensions (essence, components, characteristics, and functions), its constitutive elements and the different BM uses in the IS field. We followed a systematic, structured and replicable approach to conducting our literature review to determine the source material to be included in our analysis [START_REF] Webster | Analyzing the past to prepare for the future: Writing a literature review[END_REF]. The criteria we adopted for choosing studies for deeper analysis are adequately broad: however, we recognize that the choice of these criteria is indeed subjective and that we might have missed some papers that should have been included in our analysis.

Our semantic analysis of BM definitions contributes to BM research, both theoretically and methodologically, and the tables we present clearly summarize authors' different contributions to the BM concept. The paper is therefore helpful in assuaging some of the fuzziness associated with the BM definition, by clarifying the essence of the BM concept and its components.

Our categorization of the BM literature provides a useful insight into the elements that make up the BM components, and addresses the need for clarification noted in previous studies by providing a synthesized representation of the BM concept. Moreover, our literature review focuses on the different uses of the concept, outlining its importance for the IS domain, and contributing theoretically to understanding the connections between the IS field and BM research.

Our analysis provides future perspectives for researchers in the BM field that need to be explored to achieve a successful use of the BM concept. One major gap is revealed in the analysis of the dimensions of the BM definition, and we note the need to promote research in the field of BM representation and business modeling. We suggest that BM research in IS field would also benefit from interaction with the strategy and marketing domains, where the concept of BM has been studied more extensively.

This paper improves on the research and analysis methods used in previous studies. We describe clearly the methodologies we use for our semantic analysis and literature categorization: the paper is structured in order to make these methodologies easy to be replicable. However, we are aware of the limitations of our research -which is dedicated only to the IS domain -and recognize that research in other domains may also yield other significant contributions to developing the BM concept. "The BM identifies what is being offered by the new venture, who the target customers are, how the new venture will acquire and organize resources to serve the target customers and how it will be paid for its products and services such that financial success of the new venture seems to be assured."

"What is being offered" "Who the target customers are" "How the new venture will acquire and organize resources" "Target customers" "How it will be paid for its products and services" "Financial success" "What is being offered" "Who the target customers are" "How the new venture will acquire and organize resources" "Target customers" "How it will be paid for its products and services" "Financial success" 10 (Rensma nn, 2012) "A BM is architecture for product, service and information flows, including a description of the various business actors and their roles."

"Architecture" "Product, service, information flows" "Business actors and roles" "Architecture" "Product, service, information flows" "Business actors and roles" 11 (Moreno, Tizon, & Preda, 2012) "A BM is blueprint for a service to be delivered, describing the service definition and the intended value for target group, the sources of revenue, and providing an architecture for the service delivery, including a description for the resources required, and the organizational and financial arrangements between the involved business actors, including a description of their roles and the division of the costs and revenues over the business actors."

"Blueprint" "Service to be delivered" "Service definition" "Intended value for target group" "Source of revenue" "Architecture for the service delivery" "Resources required" "Organizational and financial arrangements" "Business actors" "Their roles" "Division of costs and revenues" "Blueprint" "Service to be delivered" "Service definition" "Intended value for target group" "Source of revenue" "Architecture for the service delivery" "Resources required" "Organizational and financial arrangements" "Business actors" "Their roles" [START_REF] Buder | Evaluating BMs: Evidence on User Understanding and Impact to BPM Correspondence[END_REF] "A BM has become an important tool to formalize value proposition. A description of key components of a given or a particular business. The task of a conceptual BM is to enhance understanding and support the execution of BMs in business processes."

"Important" "Tool" "Value Proposition" "Description" "Key components" "Enhance understanding" "Support the execution of BMs in business processes" "Tool" "Description" "Value Proposition" "Key components" "Important" "Enhance understandi ng" "Support the execution of BMs in business processes" 14 [START_REF] Sitoh | Information System Strategy for Opportunity Discovery and Exploitation: Insights from BM Transformation[END_REF] "A BM is the logic of the firm, the way it operates and how it creates values for stakeholders." "The BM is the IT-enabled structural template that describes the organization of a focal firm's transactions with all of its external constituents in factor and product markets"."

"
"IT-enabled" "Structural Template" "Firm's transaction" "External constituents" "Product markets" "Structural Template"

"IT-enabled" "Firm's transaction" "External constituents" "Product markets" 20 [START_REF] Fichman | Digital Innovation as a Fundamental and Powerful Concept in the Information Systems Curriculum[END_REF] "A BM defines how the enterprise creates and delivers value to customers, and then converts payments received to profits."

"Create and deliver value" "Customers" "Payments received" "Profits" "Create and deliver value" "Customers" "Payments received" "Profits" 21 [START_REF] Ryschka | Investigating Location-Based Services from a BM Perspective[END_REF] "A BM is a blueprint for a service to be delivered, describing the service definition and the intended value for the target group, the sources of revenue, and providing an architecture for the service delivery, including a description of the resources required, and the organizational and financial arrangements between the involved business actors, including a description of their roles and the division of costs and revenues over the business actors."

"Blueprint" "Service to be delivered" "Service definition" "Intended value for target group" "Source of revenue" "Architecture for the service delivery" "Resources required" "Organizational and financial arrangements" "Organizational and financial arrangements" "Business actors, their roles" "Division of costs and revenues" "Blueprint" "Service to be delivered" "Service definition" "Intended value for target group" "Source of revenue" "Architecture for the service delivery" "Resources required" "Organizational and financial arrangements" "Organizational and financial arrangements" "Business actors, their roles" "Division of costs and revenues" 22 ( [START_REF] Zolnowski | Business modeling for services: Current state and research perspectives[END_REF] Review: BM modeling for value creation 16 [START_REF] Burkhart | Analyzing the BM Concept -A Comprehensive Classification of Literature[END_REF] Review: the BM concept is linked but still distinct to the concept of business strategy Review: focus on the primary components 17 [START_REF] Raivio | Towards Open Telco -BMs of API Management Providers[END_REF] BM for API management providers 18 [START_REF] Lin | Vertical Differentiation and a Comparison of Online Advertising Models[END_REF] Revenue and cost model for content distributor BM 19 [START_REF] Deodhar | Strategies for software-based hybrid BMs[END_REF] Management practices and strategies used for formulating BM of organization 20 [START_REF] Krumeich | Towards a Component-based Description of BMs: A State-of-the-Art Analysis[END_REF] Description of the different BM components proposed in the literature and categorization in a framework 21 [START_REF] Valentin | Towards a Framework for Transforming BMs into Business Processes[END_REF] BM is a mediator between strategy and business processes. The paper provide a framework for mapping strategic BM updates onto the BM processes 22 [START_REF] Rensmann | Two-sided Cybermediary Platforms: The Case of Hotel[END_REF] Multi-sided BM for cybermediary platform 23 (Moreno et al., 2012) BM of Gaming as a Service 24 [START_REF] Kundisch | BM Representation Incorporating Real Options: An Extension of e3-Value[END_REF] Real Options used for the financial analysis (value capture) of the BM 25 [START_REF] Buder | Evaluating BMs: Evidence on User Understanding and Impact to BPM Correspondence[END_REF] BM is used for the execution of business process management. BM is the base for scribing and define operations 26 [START_REF] Schief | BMs in the Software Industry[END_REF] Software industry BM 27 (Osterwalder & Pigneur, 2013) CAD assist the process of designing strategic management objects, such as BM 28 [START_REF] Keen | Value Architectures for Digital Business: Beyond the BM[END_REF] Value architecture determine digital business strategy success

No . Impact of digital business strategy on freemium BM Freemium BM for content providers 30 [START_REF] Sitoh | Information System Strategy for Opportunity Discovery and Exploitation: Insights from BM Transformation[END_REF] The BM is a result of the strategic choices. The creation of a new BM is an enactment of opportunity also linked to IS strategy 31 [START_REF] Giessmann | Designing BMs for Platform as a Service: Towards a Design Theory[END_REF] Develop of a BM design theory that facilitate the design of a PaaS BM PaaS BM 32 (Di Valentin et al., 2013) Architecture design and prototypical implementation of BM assistance system 33 [START_REF] Krumeich | Interdependencies between BM Components -A Literature Analysis[END_REF] Analysis of the BM literature with the objective of discovering structural relations between BM components 34 [START_REF] Loebbecke | Extending Successful eBMs to the Mobile Internet: The Case of Sedo's Domain Parking[END_REF] Evolution and adoption of the BM in response to general trends of internet going mobile 35 (Oechslein & Hess, 2013) Digital BM for online review 36 [START_REF] Labes | Common Patterns of Cloud BMs[END_REF] Cloud BM 37 [START_REF] Malsbender | Capitalizing on Social Media Analysis -Insights from an Online Review on BMs[END_REF] Software company (social media analysis) BM 38 (Morgan & Conboy, 2013) The BM is used to analyze the process of value creation in the cloud computer industry providers 39 [START_REF] Bonakdar | Transformative Influence of Business Processes on the BM: Classifying the State of the Practice in the Software Industry[END_REF] Analysis of the BM processes influences on the BM 40 [START_REF] Zolnowski | Customer Integration in Service BMs[END_REF] Service BM 41 (Niculescu & Wu, 2014) Software industry BM 42 [START_REF] Rai | Information Technology-Enabled BMs: A Conceptual Framework and a Coevolution Perspective for Future Research[END_REF] IT-enabled BM are distinctive source of value creation and appropriation 43 [START_REF] Fichman | Digital Innovation as a Fundamental and Powerful Concept in the Information Systems Curriculum[END_REF] Digital BM innovation as fundamental and powerful concept 44 (Ryschka et al., Location-based services BM

Reference

Table 1 Selected Literature in IS: papers from Journals and Conference Proceedings analyzed (from 2009 to 2014)

 1

	(1)	(2)

Important Generally Applicable Dynamic User Addressable Highly Aggregated Conceptual enactment tool for opportunity exploitation

	VALUE PROPOSITION (Value Offering)	VALUE ARCHITECTURE (Internal Processes, Resources, Architecture)	VALUE NETWORK (External Partners)	VALUE CAPTURE (Monetization)
				; and is an

  Gerasymenko, V., De Clercq, D., & Sapienza, H. J. (2015). Changing the BM: Effects of Venture Capital Firms and Outside CEOs on Portfolio Company Performance.

			Appendix A	Second Cycle Coding (Nodes) Second Cycle Coding (Nodes) Second Cycle Coding (Nodes)
	Strategic Entrepreneurship Journal, 9(1), 79-Miles, M. B., Huberman, A. M., & Saldaña, J. (2014). Qualitative data analysis: a methods sourcebook (Third 98. http://doi.org/10.1002/sej.1189 N°Authors BM Definition First Cycle Coding (Codes) BM Essence BM Components N°Authors BM Definition First Cycle Coding (Codes) BM Essence BM Components N°Authors BM Definition First Cycle Coding (Codes) BM Essence BM Components Table A1 First Cycle and Second Cycle Coding edition). Thousand Oaks, Califorinia: SAGE Publications, Inc. Moreno, C., Tizon, N., & Preda, M. (2012). Mobile Cloud Convergence in GaaS: A BM Proposition. In 45th 4 (Björn Kijl "A BM describes the logic behind value creation. BM "Describes" "Describes" "Value creation" 7 (Burkhart "A BM describes (mainly textual on a highly "Describes" "Describes" "Combination of 9 (Di Second Cycle Coding (Nodes) N°Authors BM Definition First Cycle Coding (Codes) BM Essence BM Components & components are described through the STOF-"Logic" "Logic" "Generation of value for et al., aggregated level) the business logic of an "Business logic" "Business interdependent offering, Valentin Boersma, Framework that uses four different domains to "Value creation" customers, end users as 2011) underlying company by a combination of "Combination of interdependent logic" market, internal, economical et al., 2010) describe the underlying logic of BM design. Each "Generation of value for customers, well as the other roles interdependent offering, market, internal as well as offering, market, internal, economical components" 2012)	BM BM BM Characteristics Characteristics Characteristics "Mainly textual on BM Characteristics a highly aggregated level" "Static and	BM BM BM Functions Functions Functions BM Functions
	Ghezzi, A., Dramitinos, M., Agiatzidou, E., Johanses, F. T., Losethagen, H., Rangone, A., & Balocco, R. (2014). Hawaii International Conference on System Sciences (pp. 1344-1352). IEEE. 1 (Al-debei "A BM is an abstract representation of an "Abstract" "Representatio domain represent the generation of value for end users as well as the other roles economical BM components in static and dynamic components"	"Core products and/or participating in the value	"Abstract" dynamic way"
	& Avison, 2010)	organization, of all core interrelated architectural, co-customers and end users as well as the other roles way beyond the company's border. BM is not limited Internet Interconnection Techno-economics: A Proposal for Assured Quality Services and BMs. In 47th "Representation" n" participating in the value network" "Static and dynamic way" operational and financial arrangements designed "Architectural, co-operational, "Architectural, participating in the value network as a key point. The "Service" to a certain type of business or industry and is thus "Not limited to a certain type of	services the organization network" offers, or will offer" "Service"	"Presently and in "Not limited to a the future" certain type of
		Hawaii and developed by an organization presently and in International Conference on BM components are: service, technology, generally applicable and intended for internal as well System financial arrangements" Sciences (pp. "Technology" business" the future, as well all core products and/or services "Presently and in the future" organization, and finance." "Organization" as external addresses." "Generally applicable"	708-717).	co-operational, IEEE. financial	"Technology" "Organization" "Finance"	business" "Generally
	the organization offers, or will offer, based on these http://doi.org/10.1109/HICSS.2014.95 Giessmann, A., Fritz, A., Caton, S., & Legner, C. (2013). A Method For Simulating Cloud BMs: A Case Study On "Core products and/or services the arrangements" "Finance" "Intended for internal as well as Platform As A Service. ECIS 2013 Completed Research. Retrieved arrangements that are needed to achieve its strategic goals and objectives." organization offers, or will offer" 2 (Brockma nn & "A BM contains the business logic, consisting of how inputs are transformed to output, how the products "Contains" "Business logic" "Contains" "Business 5 (Bjorn Kijl & Nieuwen huis, "A BM is a description of the way a company or a network of companies aims to make money and create customer value." "Description" "Make money" external addresses" "Description" "Make money" "How Input are transformed to output" "Create customer value" "Create customer value" from Gronau, or services are distributed, what markets and "How Input are transformed to output" logic" "How product/service are 2010) 8 (Deodhar "A BM is a collection of interrelated organizational "Collection of interrelated "Collection" "Value creation"	applicable" "Intended for internal as well as external addresses"
	2009) 3 (Hochstei n et al., 6 (Feller et al., 2011) et al., 2012) (Baden-Fuller & Morgan, 2010b) Morgan, Fuller & (Baden-2010b)	customers are targeted, how value is generated for the customers, what revenues are generated and what costs occur." "A BM is an organization (or architecture) of products, services, and information flow as well as "A BM is a conceptual tool that contains a set of elements and their relationships and allows expressing the business logic of a specific firm. It is a description of the value a company offers to one or several segments of customers and of the architecture of the firm and its network of partners for creating, marketing and delivering this value relationship capital, to generate profitable and sustainable revenue streams." practices that link the value creation, resource organization, value delivery, and revenue generation with the organizational context characterized by interests, people, and history."	"How product/service are distributed" "What market and customer are targeted" "How value is generated for customer" "What revenues are generated" "What costs occur" "Organization (or architecture)" "Products" "Conceptual" "Tool" "Business logic" "Value a company offer to one or several segment of customers" "Architecture of the firm and its network of partners for creating, marketing and delivering value, to generate profitable and sustainable revenue streams" organizational practices" "Value creation" "Resource organization" "Value delivery" "Revenue generation" by interests, people and history" "Organizational context characterized	"Organization (or "Tool" "Business logic" "Interrelated organizational practices"	distributed" "What market and customer are targeted" "How value is generated for customer" "What revenues are generated" "What costs occur" "Products" "Services" "Value a company offer to "Resource organization" "Value delivery" one or several segment of "Revenue generation" customers" "Organizational context "Architecture of the firm and characterized by interests, its network of partners for revenue streams" profitable and sustainable delivering value, to generate creating, marketing and people and history"	"Conceptual"
	2009)	sources of revenue and utilization for suppliers and	"Services"		architecture)"	"Information flow"
		clients."	"Information flow"			"Sources of revenue and
			"Sources of revenue and utilization for		utilization for suppliers and
			suppliers and clients"			clients"

the Interplay between Strategy and Operations and the Configuration of Value Describe Different Business Components and their Relationships BM Design and BMling Map Specific Businesses

	Kuebel, Limbach, & Zarneko w, 2014) N°Authors BM Definition "The BM comprises how a firm economically engages with external parties outlining the value proposition and its delivery towards stakeholders and customers." 23 (Ghezzi et al., 2014) "A BM is architecture of a business or the way firms structure their activities in order to create and 24 (Lindman et al., 2014) "A BM is a concise representation of how an interrelated set of elements -the offering, relationships, resources, revenue model and management mind-set -are addressed to create and capture value in defined markets. " 25 (Kuebel & Zarneko w, 2014) "A BM describes the content, structure, and governance of transactions between the focal firm and external parties. " 26 (John, 2014) "A BM describes the fundamental logic of how an organization creates, captures and delivers value." 27 (Di Valentin et al., 2014) "A BM explains how a company works by offering an abstract view on aspects like critical success factors, activities of value creation and a company's organizational structures." 28 (Sitoh et al., 2014) "A BM depicts the trans-active elements of a firm through opportunity exploitation." that are targeted interactions, strategies and goals and value "How firm economically engages with external parties" "Value proposition" "Delivery toward stakeholders and customers" First Cycle Coding (Codes) "Representation" "Offering, relationships, resources, revenue model and management mind-set" "Create and capture value" "Defined markets" "Describes" "Content, structure and governance of transactions" "External parties" "Describes" "Fundamental logic" "Creates, captures and delivers value" "Abstract" "View" "Critical success factors" "Activities" "Value Creation" "Organizational Structures" "Trans-active elements" "Opportunity exploitation" activities), 11 (Clemons & Madhani, 2010) Customer Product Business activities 12 (Bjorn Kijl & Nieuwenhuis, 2010) Service (a description of the service concept an organization or group of organizations offers, its value proposition and the market segments that are targeted Technology (a description of the technological architecture, service platform, devices and applications) Organization (a description of actors. roles, interactions, strategies and goals and value activities), 13 (Feller et al., 2011) Product (Value Proposition: gives an overall view of a company's bundle of the products and services) Customer Interface (Target Customer: describes the segments of customers a company to get in touch with its customers) Infrastructure Management (Value Configuration: describe the arrangement of activities and resources -Core Competency outlines the competencies necessary to execute the company's BM) 14 (Tay & Chelliah, 2011) 15 (Zolnowski & Böhmann, 2011) Value Proposition: describe how the value is created for the customer Target customer Technology, resources and skills define the prerequisites for implementing the BM 17 (Raivio, Luukkainen, & Seppala, 2011) Service (a description of the service concept an organization or group of organizations offers, its value proposition and the market segments that are targeted Technology (a description of the technological architecture, service platform, devices and applications) Organization (a description of actors. roles, interactions, strategies and goals and value activities), 18 (Lin et al., 2012) 19 (Deodhar et al., 2012) Product/services Organizational processes that are coordinated to achieve a certain goal Organizational practices are defined as organization's routine use of knowledge for conducting a particular function that has evolved over time under the influence of the organization history, people, interests and actions 23 (Moreno et al., 2012) Service (a description of the service concept an organization or group of organizations offers, its value proposition and the market segments that are targeted Technology (a description of the technological architecture, service platform, devices and applications) Organization (a description of actors. roles, interactions, strategies and goals and value activities), 24 (Kundisch & John, 2012) 25 (Buder & Felden, 2012) Value proposition 26 (Schief & Buxmann, 2012) Value proposition + the customer Offering Internal processes and competencies Activities 27 (Osterwalder & Pigneur, 2013) Value proposition 28 (Keen & Williams, 2013) Product or service Customer Resource management 29 (Oestreicher-Singer & Zalmanson, 2013) Products and Clients Producing and delivery 30 (Sitoh et al., 2013) 31 (Giessmann et Value proposition Activities products, that is, fat client, web-based, or mobile applications and consulting service offerings) target customer segment (addressed customer segments, including specialized offerings for distinct 38 (Morgan & Conboy, 2013) Product (Value Proposition: gives an overall view of a company's bundle of the products and services) Customer Interface (Target Customer: describes the segments of customers a company to get in touch with its customers) Infrastructure Management (Value Configuration: describe the arrangement of activities and resources -Core Competency outlines the competencies necessary to execute the company's BM) 39 (Bonakdar et al., 2013) 44 (Ryschka et al., 2014) Service (a description of the service concept an organization or group of organizations offers, its value proposition and the market segments that are targeted Proposed Values, value-creating characteristics, target groups and 45 (Fritscher & Pigneur, 2014) What we do? Who we do it for? How we do it? 46 (Kuebel et al., 2014) Value proposition which comprises the value creation for the customer through offering products and services Value architecture which focuses on the way an organization's resources are configured 52 (John, 2014) create and provide value to customers engaged in service provision competencies are configured in order to 2014) customers and for each party organization's resources and core Zarnekow, products and services for both their for service provision. Represents how an 51 (Kuebel & Value created through offered Configuration of resources and competencies Second Cycle Coding (Nodes) "How firm economically engages with external parties" "Value proposition" "Delivery toward stakeholders and customers" BM Essence BM Components "Representatio n" "Offering, relationships, resources, revenue model and management mind-set" "Create and capture value" "Defined markets" "Describes" "Content, structure and governance of transactions" "External parties" "Describes" "Fundamental logic" "Creates, captures and delivers value" "View" "Critical success factors" "Activities" "Value Creation" "Organizational Structures" "Depicts" "Trans-active elements" Organization (a description of actors. roles, interactions, strategies and goals and value activities) Finance (a description of BM Characteristics "Abstract" investment sources, cost sources, BM Functions "Opportunit y exploitation" revenue sources, risk sources and pricing) Customer Interface (Relationship: explains the kind of links a company establishes between itself and its different customer segments) Infrastructure Management (Partner Network portrays the network of cooperative agreements with other companies necessary to efficiently offer and commercialize value) Financial Aspects (Cost Structure sums up the monetary consequences of the means employed in the BM -Revenue Model describes the way a company makes money through a variety of revenue flows) Partner Network Network and activities examine the activities within a company or a network of different companies required to implement the BM Value flow: exchange relationships between different business actor Value capture -the revenue model Funding and costs: the financing and cost aspects of a BM Organization (a description of actors. roles, interactions, strategies and goals and value activities) Revenue Model Organization (a description of actors. roles, interactions, strategies and goals and value activities) investment sources, cost sources, revenue sources, risk sources and pricing) Cost structure and revenue model Partner Network Value network Money Revenue model Value network Revenue Model and cost model Partner Network Cost structure and revenue model Customer Interface (Relationship: explains the kind of links a company establishes between itself and its different customer segments) Infrastructure Management (Partner Network portrays the network of cooperative agreements with other companies necessary to efficiently offer and commercialize value) consequences of the means employed in the BM -Revenue Model describes the way a company makes money through a variety of revenue flows) Who we do it for? Value network which includes the relationships with different stakeholders to deliver the value proposition proposition sustain or improve the value relationships within a BM pricing, revenue breakdown to participations. Inter-organizational with issues related to costing, and open and closed modes of structure Value finance which is concerned Actors' roles in the business network Revenue generation and cost How we do it? thinking and planning How much? management instead of cognitive, rational different application areas Technology (a description of the technological architecture, service platform, devices and applications) Data, functionality, hardware and software Organization (a description of actors. roles, from the values, emotions, and attitude of activities) Resources, activities set distinguish a BM as something that stems interactions, strategies and goals and value Organization (a description of actors. roles, interactions, strategies and goals and value activities) Actors, relations competency of a company. Managerial mind-financing, cost sources of advantage, or the core pricing) revenue sources, pricing, relationship) In the essence they are internal revenue sources, risk sources and which it position itself in the market equipment, etc.) or intangible (broad name, velocity investment sources, cost sources, and other stakeholders, and with given BM. They can be tangible (personnel, capabilities cost structure, and revenue Finance (a description of al., 2014) a software firm offers its customers that are needed to develop and implement a access external resources and revenues sources, pricing policy, sums up the monetary al., 2014) 50 (Lindman et An offering is a value proposition that Resources are the assets and the capabilities Relationships are the means to A revenue model includes the Financial Aspects (Cost Structure 43 (Fichman et Customer Profit al., 2014) industries) development environments.) Core competency (Specific offerings made to the customer with reference to application scenarios of those offerings, for example, 2014) 49 (Giessmann et engagement, increase brand loyalty.) 42 (Rai & Tang, content-data delivery model gaining brand insights, create customer increasing market penetration, and technological partners that allow deep technology integration, for example in existent CRM solutions.) versions of applications are free of charge, advanced versions cost a Wu, 2014) and competencies modality-business agreements, model for consultancy services.) 41 (Niculescu & customer-customer value -resources relationship, interconnection issues and money flows and cost monthly fee), or individual pricing and wants 2014) product/service delivered-target customer ownership and model, revenue sharing charging and provision of a service 48 (Ghezzi et al., Value Proposition is composed by Value network: vertical integration, Financial configuration: revenue for a partnership in the development Finance (a description of products and services (IT related proprietary data centers and application (Including sales partner networks for "fermium" models (e.g. basic customer and its problems, needs Key partnership describe the need Key partnership describe pricing) companies necessary value proposition to the customer) technology-related resources, such as customers.) Strategic Partners including software as a service, The provider has to consider the segments segment segments revenue sources, risk sources and customers) cooperative agreements with other variety of revenue flows) statement (short statement for central resources, such as expertise, and the companies indicate as reference for the offered value propositions, customer can receive by the offering. establish with specific customer incurred to operate a BM create value for a specific customer establish with specific customer incurred to operate a BM investment sources, cost sources, a company to get in touch with its Network portrays the network of company makes money through a needs of their target segments) value Resources (Comprises organizational customers (Existent customers which Pricing model (The pricing model represents the potential value that the types of relationships a company Cost structure describes all costs bundle of products and services that types of relationships a company Cost structure describes all costs Finance (a description of describes the segments of customers execute the company's BM) Infrastructure Management (Partner Model describes the way a products and services that satisfy the services in addition to information flows) Core multiple companies) Referenced improve its creation of revenue.) detailed way. The value proposition work Customer relationship describes the to create earnings) The value proposition describes the work Customer relationship describes the to create earnings) capture value." "Architecture of a business" "Create and capture value" "Architecture of a business" No . Reference Value Proposition Value Architecture Value Network Value Finance 10 (Björn Kijl & Boersma, Service (a description of the service concept an organization or group of Technology (a description of the technological architecture, service platform, Organization (a description of actors. roles, interactions, strategies and Finance (a description of investment sources, cost sources, No . Reference Value Proposition Value Architecture Value Network Value Finance 16 (Burkhart et al., 2011) Offering factors: how company creates values for its stakeholders Internal capability factors: deal with the internal activities and competences of the Economic factors: bundle all economic-related aspects of the No . Reference Value Proposition Value Architecture Value Network Value Finance 22 (Rensmann, 2012) Product (Value Proposition: gives an overall view of a company's bundle of Infrastructure Management (Value Configuration: describe the arrangement of Customer Interface (Relationship: explains the kind of links a company Financial Aspects (Cost Structure sums up the monetary No . Reference Value Proposition Value Architecture Value Network Value Finance 37 (Malsbender et al., 2013) Value proposition (A way that demonstrates the business logic of Value architecture (An architecture for the organization including its technological Value network (A way in which an organization enables transactions Value finance (A way in which organizations manage issues No . Reference Value Proposition Value Architecture Value Network Value Finance 40 (Zolnowski & Bohmann, The customer segment illustrates the target with its characteristic. By The key resources describes the most important required to make a BM work The channels describes how a company communicates with and Revenue stream represent the cash a company generates from No . Reference Value Proposition Value Architecture Value Network Value Finance 47 (Zolnowski, Weiss, & Customer Segments define the different groups of people or The key resources describes the most important required to make a BM work The channels describes how a company communicates with and Revenue stream represent the cash a company generates from No . Reference Describe 2011) industries supply chain BM "Create and capture value" 2010) organizations offers, its value proposition and the market segments devices and applications) Organization (a description of actors. roles, goals and value activities) revenue sources, risk sources and pricing) Market factors: express for whom the company creates value company company the products and services) Customer Interface (Target Customer: activities and resources -Core Competency outlines the competencies necessary to establishes between itself and its different customer segments) consequences of the means employed in the BM -Revenue creating value for customers and/or to each party involved through offering architecture and organizational infrastructure that allows the provisioning of products and through coordination and collaboration among parties and related to costing, pricing, and revenue breakdown to sustain and 2013) defying characteristics, it is possible to define customer needs in more Key activities describes the most important things a company must do to make its BM reaches its customer segment to deliver a value proposition each customer segment (costs must be subtracted from revenues Bohmann, 2014) organizations an enterprise aims to reach and serve Key activities describes the most important things a company must do to make its BM reaches its customer segment to deliver a value proposition each customer segment (costs must be subtracted from revenues 15
	al., 2013)

http://doi.org/10.1109/HICSS.2012.433 Morgan, L., & Conboy, K. (2013). Value Creation in the Cloud: Understanding BM Factors Affecting Value of Cloud Computing. AMCIS 2013 Proceedings. Retrieved from http://aisel.aisnet.org/amcis2013/eBusinessIntelligence/GeneralPresentations/6 Niculescu, M. F., & Wu, D. J. (2014). Economics of Free Under Perpetual Licensing: Implications for the Software Industry. Information Systems Research, 25(1), 173-199,201-203. Oechslein, O., & Hess, T. (2013). Paying for News: Opportunities for a New BM through Personalized News Aggregators (PNAs). AMCIS 2013 Proceedings. Retrieved from http://aisel.aisnet.org/amcis2013/eBusinessIntelligence/GeneralPresentations/18 Oestreicher-Singer, G., & Zalmanson, L. (2013). Content or Community? a Digital Business Strategy for Content Providers in the Social Age. MIS Quarterly, 37(2), 591-616. Øiestad, S., & Bugge, M. M. (2014). Digitisation of publishing: Exploration based on existing BMs. Technological Forecasting and Social Change, 83, 54-65. http://doi.org/10.1016/j.techfore.2013.01.010 Osterwalder, A., & Pigneur, Y. (2010). BM generation: a handbook for visionaries, game changers, and challengers. Hoboken, NJ: Wiley. Osterwalder, A., & Pigneur, Y. (2013). Designing BMs and Similar Strategic Objects: The Contribution of IS. Journal of the Association for Information Systems, 14(5), 237-244. Osterwalder, A., Pigneur, Y., & Tucci, C. L. (2005). Clarifying BMs: Origins, Present, and Future of the Concept. Communications of the Association for Information Systems, 16(1). Retrieved from http://aisel.aisnet.org/cais/vol16/iss1/1 Pateli, A. G., & Giaglis, G. M. (2004). A research framework for analysing eBMs. European Journal of Information Systems, 13(4), 302-314.

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