Abeynayake, D N; Perera, B A K S and Hadiwattege, C (2022) A roadmap for business model adaptation in the construction industry: A structured review of business model research. Construction Innovation, 22(4), pp. 1122-1137. ISSN 1471-4175
Abstract
Purpose: Survival challenges compel construction firms to change their business thinking on adapting business models (BMs). Unlike in the other fields, in the construction field, it is still a novel concept, probably because BM adaptation in the industry has not been sufficiently studied. Hence, the purpose of this study is to set a roadmap for the effective adaptation of the BM concept in the construction industry. Design/methodology/approach: To develop a roadmap, this study analysed BM literature through a comprehensive literature review by finding the BM research development stages using studies done in other fields and locating construction industry BM literature. Findings: No stage-wise development of BM research has taken place in the construction industry. The four BM research development stages, namely, defining BMs, listing BM components, describing BM components and modelling BM components as a business model ontology (BMO) in relation to the construction industry have to be followed for proper BM adaptation in the construction industry. Originality/value: This study provided an overview of and a roadmap for BM adaptation in the construction industry for the benefit of future researchers. The proper adaptation of the BM concept through a BMO will enable construction business managers to easily innovate, design and change construction BMs to streamline their business thinking.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | business model; business model ontology; business model research; construction business development; construction industry; roadmap |
| Index terms: | literature review, construction firm, ontology, manager, business development, methodology, adaptation, construction industry, modelling, survival, business model |
| Subjects: | industry analysis, education and knowledge transfer, research methods, data analysis and analytics, environmental science, analytical methods, user focus, organization, business, practitioner |
| Topics: | Business Strategy, Research Practice, Engineering Principles, Roles and Professions, Sustainability, Design Practice |
| Descriptive scope: | 4 PCTA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here