Theoretical Foundation of Business Model and Their Building Blocks
Business model literature reviewed in multifaceted in which author example the business model concept through multidisciplinary and review reveals that scholars do not agree on the unified concept of business model that is why literature on business model dissects into multi-stream and become victim of abstruseness. The ambiguity on business model concept eradicate through providing theoretical ground, not on the empirical basis, therefore discussed variety of business definitions from 1998-2010 to come on the point of unified concept. Review the literature from 1996–2010 in sequential manners for building strong theoretical ground on building blocks, in this milieu found 28 blocks used in construction of business model. Companies often make substantial efforts to innovate their processes and products to achieve revenue growth that is why managers have well informed about the business model blocks. The study creates conceptual tools for both academic researcher and manager to develop future business model.
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