Understanding the Gestalt Nature of Business Models: A Business Model Review

As business model centered research has grown significantly over the last decade, the focus has primarily been on establishing an initial understanding of the construct. Much of the existing research has focused on defining business models, yet recent research continues to highlight the lack of common understanding of the nature of business models. In this study, I examine the theoretical foundations of business models and the extent to which each contribution is found within current research through an in-depth analysis of current business model research. Four dimensions of business models are identified and found to present in business model research over 70% of the time. However, recent reviews continue to highlight the continued lack of understanding of the construct alluding to the notion that there is more to business models than the four commonly cited dimensions of structure, value creation, value capture and value networks. Employing the framework of gestalt theory, I propose an additional dimension of business models, opportunity alignment which helps explain how the four foundational dimensions work together to establish clearer understanding of the nature of business models.