2019 Portland International Conference on Management of Engineering and Technology (PICMET)
High technology industries -- Management, Technological innovations -- Economic aspects, New business enterprises -- Management, Entrepreneurship
Case study methods are used to identify key elements of business models in highly competitive environments. Small businesses, in particular, must rely on entrepreneurial prowess and innovation, adapt to their environment, have sufficient resources, and skillfully manage project outcomes in entrepreneurial start-up situations. This research hypothesized that a problem faced by entrepreneurial organizations is due to the fundamental flaws and poor adaptability of their business models to satisfy needs of customers and prospective customers. The problem is that the flow of value from business to customer was different from the flow of value from business to user. Two kinds of business models were examined - for-profit and non-profit. Each business model is expressed and compared in terms of their inherent systemic nature as both a system and as a system of systems. A systems approach is used to identify the essential requirements for building a sustainable business model through a mix of technology innovations for products and services. This paper reveals why sustainable entrepreneurial businesses can be built regardless of given their status as for-profit or non-profit. The advantages and disadvantages of for-profit and non-profit businesses are discussed.
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G. Langford and T. Langford, "Building a Sustainable Business Model through Technology Entrepreneurship: An Analysis of Business Models from a System and a System of Systems Perspective," 2019 Portland International Conference on Management of Engineering and Technology (PICMET), Portland, OR, USA, 2019, pp. 1-12.