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The purpose of this paper is to explain why product-centric manufacturers utilize advanced services not as vehicles of transformation, but of reinforcement, to strengthen their established business model logic based on selling products and basic product-related services.

The empirical basis of this study relies on an in-depth case study of a globally operating manufacturer of industrial pumps and related services. The data includes 31 interviews conducted over several years of in-depth collaboration with the studied firm.

Product-centric manufacturers utilize advanced services as engagement platforms to facilitate the external and internal engagement of the actors and the resources controlled by them. Externally, advanced services facilitate access to customer decision makers and insights into their latent needs. Internally, advanced services help the manufacturer to more effectively leverage resources that reside within its different organizational units. Ultimately, in leveraging advanced services as engagement platforms, the manufacturer seeks to boost activities with the greatest immediate impact on its market performance: the sale of products and basic product-related services.

The study explains why managers should invest into development of advanced services even if such services contribute only marginally to the manufacturer’s direct revenues and profits.

This study contributes to development of an alternative explanation of servitization that departs from the current paradigmatic assumptions in the field.

The purpose of this paper is twofold: first, to present a bibliometric analysis and systematic literature review of industry convergence and value innovation to understand the current research status; second, to provide a coherent theoretical research framework for future research.

This study adopts a two-step analysis approach by combining bibliometric analysis and systematic literature review to explore the research topic of industry convergence and value innovation. Besides, two bibliometric tools, HistCite and VOSviewer, were applied to this study.

This study found that Stefanie Bröring and Fredrik Hacklin are the top two most influential authors among all authors in the sample publications. Technological Forecasting and Social Change is one of the top-ranking journal that often publishes this topic of articles. Germany and the University of Munster are the most influential country and institutions, respectively. Besides, five core research themes were identified based on keywords co-occurrence map, theoretical lenses, factors promoting industry convergence, indicators of industry convergence, the impact of industry convergence and emerging research directions. Based on the above analysis, this paper constructed a theoretical research framework of industry convergence and value innovation.

This paper only draw data from one database – Web of Science – which cannot provide broad coverage of the research topic. Besides, the bibliometric method of this paper is based on high local citation score and high-frequency words, articles in the skirting subjects’ area may not be analyzed.

With the rapid development of technology, such as nanotechnology, radio - frequency identification (RFID), etc., the iterative upgrading of products also comes. As a result, the boundary between industries is gradually blurred, and the phenomenon of industry convergence appears. Therefore, managerial decision-makers are facing challenges of how to respond to the convergence phenomena. From the firm level, firms are facing the problem of value innovation of the existing product, new product development and core competence improvement. Industries are facing the problem of transformation and upgrading. This paper provides certain theoretical insights for both firms and industries to guide the practice accordingly.

This paper is the first to use a bibliometric method to examine the topic of industry convergence and value innovation. In addition, this paper presents an in-depth analysis of this topic and provides a comprehensive theoretical research framework for future study.

Business model innovation (BMI) constitutes a priority for managers across industries, but it represents a notoriously difficult innovation, with several challenges, many of which are cognitive in nature. The received literature has variously suggested that one way to overcome challenges to BMI, including cognitive ones, and support the cognitive tasks is using visual representations. Against this background, we aim at offering a contribution to the emerging line of inquiry at the nexus between business models (BMs), cognition and visual representations. Specifically, we develop a new method for visual representation of the BM in support of simplification of the cognitive effort and neutralisation of cognitive barriers. The resulting representation – a network-based representation, anchored on the activity-system perspective and offering complementarity and centrality/periphery measures – allows to visually represent an existing BM as a network (nodes and linkages) of interdependent activities and to express information related to the degree of centrality/periphery of single activities (nodes) with respect to the rest of a BM configuration. This information, we argue, is potentially very valuable in supporting the cognitive tasks involved in business model reconfiguration (BMR). We guide the reader to progressively appreciate how the development of the proposed method for visual representation is anchored to two main characteristics of BMR, namely the discovery-driven nature of BMR and the path-dependent nature of BMR. We offer initial insights on the cognitive value of such a type of representation in relationship to the simplification of the cognitive effort and the neutralisation of cognitive barriers in BMR.

While recent research has referred to a cognitive view on “business modelling,” it remains unclear in specifying the cognitive foundations of how such modelling happens. This paper proposes building on heuristics as models of individual cognition, which have proved effective foundations of adaptive individual and managerial behaviors. By also drawing on gestalt theory to specify principles of modelling as rule-based form giving, we propose business modelling as a managerial cognitive process of configuring heuristics. The paper makes three contributions. First, we introduce heuristics to the business modelling literature and so provide an established theory of adaptive individual behavior that strengthens the cognitive foundations of business modelling. Second, we conceptualize and theorize on the cognitive activity of business modelling as an iterative process of configuring heuristics by applying gestalt principles. Although the literature on business models has referred to the theories of configurations and gestalt, it has been left to this work to make the theoretical linkages between heuristics, gestalt theory and business modelling explicit. Third, our work contributes to the micro-foundations of the cognitive processes underlying business modelling and thus to broader accounts of adaptive managerial behaviors.

Traditionally, management scholars have conceptualized the business model as a locus of innovation, planning tool, heuristic logic, or market device. However, so far, little is known about how the model is being applied in practice. To address this gap, this study aims to introduce a strategy‐as‐practice perspective and to explore the implications and limitations of applying the business model as a strategizing device.

A single‐case study design was selected to explore the implications and limitations of using the business model as a strategizing device in a high‐tech firm.

The business model provides a valuable structural template for mapping the current business model of a firm. However, in developing and discussing strategic options, it acts more as a symbolic artifact stimulating a creative decision‐making process than as an analytic tool with a clear sequence of steps.

When working with the business model concept in practice, its technical and linguistic legitimacy is initially highly limited. In the process of gaining legitimacy, however, a collective lock‐in to the current strategic identity may arise. Managers have to be aware of these limitations and need to achieve an appropriate balance within the organization.

The study introduces a social practice perspective into the business model debate, with a special emphasis on the implications and limitations of applying the business model concept as a strategizing device in a real‐life setting.

Reviews the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

When a successful company wants to commercialize a new product, it must be tempting to do what it has always done, using its current business strategy. But if the firm has been developing something completely new, it might be better to start again, with the proverbial blank sheet of paper. One international high‐tech company that had been experimenting with a new multimedia technology decided that it needed to do just that in order to make the most of the business opportunities associated with the new technology. And it used the business model framework as a way to introduce a new perspective into its strategic thinking.

Provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

Provides strategic insights and practical thinking that can have a broader social impact.

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.

The aim is to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.

The article is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Traditionally, strategy research has mainly focused on firm‐level or macro‐level perspectives. Recently, a new perspective has emerged within the strategy field, placing the micro‐level activities of the “actual work of strategy practitioners” into the centre of consideration. In particular, this emerging focus is on strategy as practice (S‐as‐P), aimed at understanding “the detailed processes and practices which constitute the day‐to‐day activities of organizational life and which relate to strategic outcomes.”

The article provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

The article provides strategic insights and practical thinking that can have a broader social impact.

The article saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.