Toward ecosystemic business models in the context of industrial internet

Purpose: This study explores business models within a particular domain of Industrial Internet. Design/Methodology/Approach: Building from theory, this study is conceptual in nature. Findings: This paper presents a business model framework for understanding the dynamics of value co-creation and co-capture from lifecycle and ecosystem configuration point of view. Research limitations/implications: This study stresses the need to understand how the integrated, co-dependent processes of value co-creation and co-capture influence on business models of individual firms in co-evolving business ecosystems. Practical implications: To fully benefit from the mutually connected opportunities enabled by IoT, it is important for firms to position themselves within the ecosystem in terms of the stage of product or service life cycle as well as the scale and scope of ecosystem configuration. Originality/value: The originality of this research thus relates to expanding the business model literature from ecosystemic perspective.