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On conceptual differentiation and integration of strategy and business model

  • Ivan Stefanovic

    ()

    (NIS a.d. Novi Sad, Novi Sad, Serbia)

  • Dragan Milosevic

    (College of Business Economics and Entrepreneurship, Belgrade, Serbia)

Registered author(s):

    The objective of this paper is to develop the conceptual integration of strategy and business model. Theoretical method is used in order to achieve this objective. The theory building leads to the construction of conceptual model of strategy and business model, and provides its underlying logic. The main finding is that strategy is a pattern within which a business model changes. Only one strategy may exist for a firm in a concrete time frame, while there may be countless business models in the same period. Therefore, strategy represents the sum of all business models and their changes within a specified period. Each business model matches the set of functional strategies and their interdependencies, making strategic content in some particular moment, i.e. each business model is actually a bisection of the business strategy or a bisection of a set of functional strategies in one concrete moment. This specific contribution can be understood only if one takes an appropriate viewpoint of the process of strategy formation, namely the reactive perspective.

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    File URL: https://www.efri.uniri.hr/sites/efri.hr/files/cr-collections/2/04-stefanovic-2012-1-1350652119.pdf
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    Article provided by University of Rijeka, Faculty of Economics in its journal Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics.

    Volume (Year): 30 (2012)
    Issue (Month): 1 ()
    Pages: 141-161

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    Handle: RePEc:rfe:zbefri:v:30:y:2012:i:1:p:141-161
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    1. Henry Mintzberg, 1978. "Patterns in Strategy Formation," Management Science, INFORMS, vol. 24(9), pages 934-948, May.
    2. Arthur, W Brian, 1989. "Competing Technologies, Increasing Returns, and Lock-In by Historical Events," Economic Journal, Royal Economic Society, vol. 99(394), pages 116-31, March.
    3. Burgelman, Robert A., 2002. "Strategy as Vector and the Inertia of Co-evolutionary Lock-in," Research Papers 1745, Stanford University, Graduate School of Business.
    4. Voelpel, Sven & Leibold, Marius & Tekie, Eden & von Krogh, Georg, 2005. "Escaping the Red Queen Effect in Competitive Strategy:: Sense-testing Business Models," European Management Journal, Elsevier, vol. 23(1), pages 37-49, February.
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