IDEAS home Printed from https://ideas.repec.org/a/eee/tefoso/v164y2021ics0040162518301525.html
   My bibliography  Save this article

Educating engineers to develop new business models: Exploiting entrepreneurial opportunities in technology-based firms

Author

Listed:
  • Snihur, Yuliya
  • Lamine, Wadid
  • Wright, Mike

Abstract

This study examines educational frameworks and practices useful in teaching engineers to develop new business models (BM) that exploit entrepreneurial opportunities in technology-based firms. We compare three existing frameworks (Blue Ocean, the Business Model Canvas, and the Business Model Innovation Framework) used to teach how to develop new business models. We then report findings from two studies: (1) five years of teaching engineers at a business school; and (2) a two-year intervention carried out at an aerospace engineering firm engaged in new business model development. In both studies, the challenges of business-model-related education involve the limits to creativity imposed by existing frameworks and the difficulty in prototyping new business models. The opportunities of business-model-related education include the transformation of the educator into a coach by effectively combining explanation- and experience-based learning approaches into a virtuous learning cycle. Systematic thinking about business model design, enabled by the business model frameworks, is of crucial importance to generate viable business models for new technologies.

Suggested Citation

  • Snihur, Yuliya & Lamine, Wadid & Wright, Mike, 2021. "Educating engineers to develop new business models: Exploiting entrepreneurial opportunities in technology-based firms," Technological Forecasting and Social Change, Elsevier, vol. 164(C).
    • Handle: RePEc:eee:tefoso:v:164:y:2021:i:c:s0040162518301525
    DOI: 10.1016/j.techfore.2018.11.011
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0040162518301525
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.techfore.2018.11.011?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. C. Verzat & J. Byrne & A. Fayolle, 2009. "Tangling With Spaghetti: Pedagogical Lessons From Games," Post-Print hal-00787915, HAL.
    2. Ratinho, Tiago & Harms, Rainer & Walsh, Steven, 2015. "Structuring the Technology Entrepreneurship publication landscape: Making sense out of chaos," Technological Forecasting and Social Change, Elsevier, vol. 100(C), pages 168-175.
    3. Mark De Reuver & Harry Bouwman & Timber Haaker, 2013. "Business Model Roadmapping: A Practical Approach To Come From An Existing To A Desired Business Model," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 17(01), pages 1-18.
    4. Bohnsack, René & Pinkse, Jonatan & Kolk, Ans, 2014. "Business models for sustainable technologies: Exploring business model evolution in the case of electric vehicles," Research Policy, Elsevier, vol. 43(2), pages 284-300.
    5. Christoph Zott & Raphael Amit, 2008. "The fit between product market strategy and business model: implications for firm performance," Strategic Management Journal, Wiley Blackwell, vol. 29(1), pages 1-26, January.
    6. Andrew Nelson & Erik Monsen, 2014. "Teaching technology commercialization: introduction to the special section," The Journal of Technology Transfer, Springer, vol. 39(5), pages 774-779, October.
    7. Benoît Demil & Xavier Lecocq, 2015. "Crafting an innovative business model in an established company: the role of artifacts," Post-Print hal-01609547, HAL.
    8. Mike Wright & Donald S. Siegel & Philippe Mustar, 2017. "An emerging ecosystem for student start-ups," The Journal of Technology Transfer, Springer, vol. 42(4), pages 909-922, August.
    9. Gerard George & Adam J. Bock, 2011. "The Business Model in Practice and its Implications for Entrepreneurship Research," Entrepreneurship Theory and Practice, , vol. 35(1), pages 83-111, January.
    10. Harms, Rainer, 2015. "Self-regulated learning, team learning and project performance in entrepreneurship education: Learning in a lean startup environment," Technological Forecasting and Social Change, Elsevier, vol. 100(C), pages 21-28.
    11. Link, Albert N. & Siegel, Donald S. & Wright, Mike (ed.), 2015. "The Chicago Handbook of University Technology Transfer and Academic Entrepreneurship," University of Chicago Press Economics Books, University of Chicago Press, number 9780226178349, September.
    12. Maresch, Daniela & Harms, Rainer & Kailer, Norbert & Wimmer-Wurm, Birgit, 2016. "The impact of entrepreneurship education on the entrepreneurial intention of students in science and engineering versus business studies university programs," Technological Forecasting and Social Change, Elsevier, vol. 104(C), pages 172-179.
    13. Benoît Demil & Xavier Lecocq & Joan E. Ricart & Christoph Zott, 2015. "Introduction to theSEJSpecial Issue on Business Models: Business Models within the Domain of Strategic Entrepreneurship," Post-Print hal-01563054, HAL.
    14. Christoph Zott & Raphael Amit, 2007. "Business Model Design and the Performance of Entrepreneurial Firms," Organization Science, INFORMS, vol. 18(2), pages 181-199, April.
    15. Alain Fayolle & Benoît Gailly, 2008. "From craft to science : Teaching models and learning processes in entrepreneurship education," Post-Print hal-02311755, HAL.
    16. Janice Byrne & Alain Fayolle & Caroline Verzat, 2009. "Tangling with spaghetti : pedagogical lessons from games," Post-Print hal-02311871, HAL.
    17. Yuliya Snihur, 2016. "Developing optimal distinctiveness: organizational identity processes in new ventures engaged in business model innovation," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 28(3-4), pages 259-285, March.
    18. Howell, Rachel & van Beers, Cees & Doorn, Neelke, 2018. "Value capture and value creation: The role of information technology in business models for frugal innovations in Africa," Technological Forecasting and Social Change, Elsevier, vol. 131(C), pages 227-239.
    19. Karan Girotra & Christian Terwiesch & Karl T. Ulrich, 2010. "Idea Generation and the Quality of the Best Idea," Management Science, INFORMS, vol. 56(4), pages 591-605, April.
    20. Linton, Jonathan D., 2015. "Teaching innovation to technologists (non-business people) and non-technologists (business people): Scotch Whisky as an exemplar of process changing product an alternative to traditional lectures," Technological Forecasting and Social Change, Elsevier, vol. 100(C), pages 39-43.
    21. A. Groen & J. M. Ulijn & Alain Fayolle, 2006. "Teaching Diversity in Technology Entrepreneurship: Some Experiences From The Netherlands and France," Post-Print halshs-00133042, HAL.
    22. Benoît Demil & Xavier Lecocq, 2015. "Crafting an innovative business model in an established company : the role of artifacts," Post-Print hal-01772423, HAL.
    23. Raphael Amit & Christoph Zott, 2001. "Value creation in E‐business," Strategic Management Journal, Wiley Blackwell, vol. 22(6‐7), pages 493-520, June.
    24. Mosey, Simon, 2016. "Teaching and research opportunities in technology entrepreneurship," Technovation, Elsevier, vol. 57, pages 43-44.
    25. Muñoz, Pablo & Cohen, Boyd, 2017. "Mapping out the sharing economy: A configurational approach to sharing business modeling," Technological Forecasting and Social Change, Elsevier, vol. 125(C), pages 21-37.
    26. Aard Groen & Jan Ulijn & Alain Fayolle, 2006. "Teaching diversity in technology entrepreneurship: some experiences from The Netherlands and France," International Journal of Entrepreneurship and Small Business, Inderscience Enterprises Ltd, vol. 3(5), pages 517-537.
    27. Savvas Papagiannidis & Joanna Berry, 2007. "What Has Been Learned from Emergent Music Business Models?," International Journal of E-Business Research (IJEBR), IGI Global, vol. 3(3), pages 25-39, July.
    28. Luke Pittaway & Richard Thorpe, 2012. "A framework for entrepreneurial learning: A tribute to Jason Cope," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 24(9-10), pages 837-859, December.
    29. Felipe A. Csaszar & Daniel A. Levinthal, 2016. "Mental representation and the discovery of new strategies," Strategic Management Journal, Wiley Blackwell, vol. 37(10), pages 2031-2049, October.
    30. Susan S. Harmeling & Saras D. Sarasvathy, 2013. "When Contingency is a Resource: Educating Entrepreneurs in the Balkans, the Bronx, and Beyond," Entrepreneurship Theory and Practice, , vol. 37(4), pages 713-744, July.
    31. Marc Gruber & Ian C. MacMillan & James D. Thompson, 2013. "Escaping the Prior Knowledge Corridor: What Shapes the Number and Variety of Market Opportunities Identified Before Market Entry of Technology Start-ups?," Organization Science, INFORMS, vol. 24(1), pages 280-300, February.
    32. Toro-Jarrín, Miguel Angel & Ponce-Jaramillo, Idalia Estefania & Güemes-Castorena, David, 2016. "Methodology for the of building process integration of Business Model Canvas and Technological Roadmap," Technological Forecasting and Social Change, Elsevier, vol. 110(C), pages 213-225.
    33. Karlsson, Tomas & Honig, Benson, 2009. "Judging a business by its cover: An institutional perspective on new ventures and the business plan," Journal of Business Venturing, Elsevier, vol. 24(1), pages 27-45, January.
    34. Karolin Frankenberger & Tobias Weiblen & Michaela Csik & Oliver Gassmann, 2013. "The 4I-framework of business model innovation: a structured view on process phases and challenges," International Journal of Product Development, Inderscience Enterprises Ltd, vol. 18(3/4), pages 249-273.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Maria Csutora & Gabor Harangozo & Cecilia Szigeti, 2022. "Factors behind the Consumer Acceptance of Sustainable Business Models in Pandemic Times," Sustainability, MDPI, vol. 14(15), pages 1-18, August.
    2. Kraus, Sascha & Kumar, Satish & Lim, Weng Marc & Kaur, Jaspreet & Sharma, Anuj & Schiavone, Francesco, 2023. "From moon landing to metaverse: Tracing the evolution of Technological Forecasting and Social Change," Technological Forecasting and Social Change, Elsevier, vol. 189(C).
    3. Jin, Chenglin & Liu, Along & Liu, Hefu & Gu, Jibao & Shao, Meng, 2022. "How business model design drives innovation performance: The roles of product innovation capabilities and technological turbulence," Technological Forecasting and Social Change, Elsevier, vol. 178(C).
    4. Ferran Giones & Kari Kleine & Silke Tegtmeier, 2022. "Students as scientists’ co-pilots at the onset of technology transfer: a two-way learning process," The Journal of Technology Transfer, Springer, vol. 47(5), pages 1373-1394, October.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bouwman, Harry & Nikou, Shahrokh & de Reuver, Mark, 2019. "Digitalization, business models, and SMEs: How do business model innovation practices improve performance of digitalizing SMEs?," Telecommunications Policy, Elsevier, vol. 43(9).
    2. Maria Rosa De Giacomo & Raimund Bleischwitz, 2020. "Business models for environmental sustainability: Contemporary shortcomings and some perspectives," Business Strategy and the Environment, Wiley Blackwell, vol. 29(8), pages 3352-3369, December.
    3. Zhang, Hongfang & Xiao, Huilin & Wang, Yanling & Shareef, Mahmud A. & Akram, Muhammad Shakaib & Goraya, M. Awais Shakir, 2021. "An integration of antecedents and outcomes of business model innovation: A meta-analytic review," Journal of Business Research, Elsevier, vol. 131(C), pages 803-814.
    4. Belussi, Fiorenza & Orsi, Luigi & Savarese, Maria, 2019. "Mapping Business Model Research: A Document Bibliometric Analysis," Scandinavian Journal of Management, Elsevier, vol. 35(3).
    5. Balboni, Bernardo & Bortoluzzi, Guido & Pugliese, Roberto & Tracogna, Andrea, 2019. "Business model evolution, contextual ambidexterity and the growth performance of high-tech start-ups," Journal of Business Research, Elsevier, vol. 99(C), pages 115-124.
    6. Budler, Marko & Župič, Ivan & Trkman, Peter, 2021. "The development of business model research: A bibliometric review," Journal of Business Research, Elsevier, vol. 135(C), pages 480-495.
    7. Göran Roos, 2014. "Business Model Innovation to Create and Capture Resource Value in Future Circular Material Chains," Resources, MDPI, vol. 3(1), pages 1-27, March.
    8. Baoliang Hu & Wei Huang & Shuai Yan & Guang Liu & Tao Zhang, 2020. "Business Model Design and Customer Loyalty: The Mediating Role of Customer Citizenship Behavior," Sustainability, MDPI, vol. 12(17), pages 1-14, August.
    9. Amandine Maus & Sylvie Sammut, 2018. "Business model innovation in incubators: the role played by dynamic capabilities theory," Post-Print hal-02466175, HAL.
    10. Meena Madhavan & Mohammed Ali Sharafuddin & Thanapong Chaichana, 2022. "Impact of Business Model Innovation on Sustainable Performance of Processed Marine Food Product SMEs in Thailand—A PLS-SEM Approach," Sustainability, MDPI, vol. 14(15), pages 1-33, August.
    11. Gerrit Remane & Andre Hanelt & Jan F. Tesch & Lutz M. Kolbe, 2017. "The Business Model Pattern Database — A Tool For Systematic Business Model Innovation," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 21(01), pages 1-61, January.
    12. Costa Climent, Ricardo & Haftor, Darek M., 2021. "Business model theory-based prediction of digital technology use: An empirical assessment," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    13. Iheanachor, Nkemdilim & David-West, Yinka & Umukoro, Immanuel Ovemeso, 2021. "Business model innovation at the bottom of the pyramid – A case of mobile money agents," Journal of Business Research, Elsevier, vol. 127(C), pages 96-107.
    14. Sascha Kraus & Alexander Brem & Miriam Schuessler & Felix Schuessler & Thomas Niemand, 2019. "Innovative Born Globals: Investigating the Influence of Their Business Models on International Performance," World Scientific Book Chapters, in: Alexander Brem & Joe Tidd & Tugrul Daim (ed.), Managing Innovation Internationalization of Innovation, chapter 11, pages 275-328, World Scientific Publishing Co. Pte. Ltd..
    15. Marlena Ciechan-Kujawa & Michal Buszko, 2020. "The Susceptibility of the Business Model to Changes - Empirical Analysis of Internal Determinants of Variability," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 739-757.
    16. Zhang, Yimeng & Ma, Xinyu & Pang, Jianing & Xing, Hailong & Wang, Jian, 2023. "The impact of digital transformation of manufacturing on corporate performance — The mediating effect of business model innovation and the moderating effect of innovation capability," Research in International Business and Finance, Elsevier, vol. 64(C).
    17. Desislava Yordanova & José António Filipe & Manuel Pacheco Coelho, 2020. "Technopreneurial Intentions among Bulgarian STEM Students: The Role of University," Sustainability, MDPI, vol. 12(16), pages 1-19, August.
    18. Arash Rezazadeh & Ana Carvalho, 2018. "A value-based approach to business model innovation: Defining the elements of the concept," NIPE Working Papers 12/2018, NIPE - Universidade do Minho.
    19. Alain Fayolle & Wadid Lamine & Sarfraz Mian & Phillip Phan, 2021. "Effective models of science, technology and engineering entrepreneurship education: current and future research," The Journal of Technology Transfer, Springer, vol. 46(2), pages 277-287, April.
    20. M. Moore, 2021. "Collaboration in Coworking Spaces: Impact on Firm Innovativeness and Business Models," Papers 2111.09866, arXiv.org.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:tefoso:v:164:y:2021:i:c:s0040162518301525. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.sciencedirect.com/science/journal/00401625 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.