Business Models

Blockchain technology attracted a great deal of attention with its first application Bitcoin. In addition to the multitude of practical solutions, initiatives and research efforts of the industry, the number of scientific publications on the topic of blockchain is comparatively low. Right now, there is a lack of universal standards and uniform terminology. One way of documenting blockchain technology could be a morphological box. In addition to the advantage of clarity, this type of information structuring offers further advantages that can be considered helpful in creating a comprehensive overview. In order to create such a morphological box, various features of the blockchain technology must be identified and described in detail. One of these features is the “business model”, for which the 4 different characteristics “infrastructure provider”, “platform provider”, “system integrator” and “application provider” have been identified.

The digital transformation continues to progress. In the course of this digital change, new technologies are constantly being developed and topics such as artificial intelligence, big data analytics or blockchain are moving into the focus of companies and the general public. Blockchain technology attracted a great deal of attention with its first application Bitcoin.

In many industries, the transformation of value creation is accelerating as a result of the fundamental change from pipelines business to platform business. For taking part in the new platform business companies need to develop innovative business models. The framework developed for designing digital platforms includes the type of value contribution (what?), the actors involved (who?), the reason for the value contribution (why?) and the way of value creation (how?). The design hints derived from the framework are subsequently used to develop B2B platforms to illustrate their relevance and impact.

Digitalization changes industrial value-added processes as well as the expectations and requirements of customers, staff, suppliers and partners. For industrial companies, these changes bring risks and opportunities. They need to react and adapt their products and services to remain competitive and survive in the digital age. With service design and design thinking, companies can identify future-proof business areas to develop products and services that bring users added value. We will introduce you to the nature and effects of such design processes and outline the benefits for your company.

Digitization creates fascinating opportunities. However, we have to recognize that Germany needs more than the technology leadership in order to succeed in the long term. We must be able to transform the technology leadership we take in the field of industry 4.0 for example into added value, entrepreneurial success and employment. Essential levers to success are data based services, business models, positioning in platform economy, foundation culture, shaping the digitized working environment and, last but not least, Systems Engineering. In any case, our success will be a matter of strategic operation and systemic thinking and acting.

Blockchain technology - a distributed ledger in which transactions of all kinds of values can be carried out securely, transparently and consensually without trust in a central authority - is a socio-technical innovation that has the potential to enable new business models and make existing business models obsolete. While most applications today exist in the financial sector (e.g., payment processing), the technology is suitable for various industrial applications, especially in the area of Internet of Things (IoT) applications. This article uses three propositions and various concrete examples to shed light on the possible applications of blockchain technology for new IoT business models.

Delivering industrial Product-Service Systems (IPSS) is a trend for companies in the german mechanical and plant engineering industry. IPSS are holistic problem solutions including an integrative combination of a physical core product and related services. Furthermore, IPSS are offered in customised business models. Due to the fourth industrial revolution, IPSS are transformed towards smart IPSS. Here, digital business models are necessary to take advantage of all opportunities belonging to smart IPSS. Therefore, a systematic analysis of digital business models for smart IPSS is presented.

An investigation of Industry 4.0 project examples of selected companies with a focus on possible resulting business model innovations shows that these innovations can certainly be triggered by Industry 4.0 projects. How-ever, the results of our investigation also show that the share of business model innovations with 22% out of the 158 selected companies is, however, at a rather low range. Disruptive business model innovations are mainly found in companies of the manufacturing industry. Their focus is no longer only on the production or processing of products, but also on a clear added value for the customer. In this article, these aspects are further elaborated and selected study results are presented.

Technological changes related to Industry 4.0 generate new potentials. Hence, it is important to understand which dimensions of a business model to adapt. Industry 4.0 technologies enable a company to offer new products, new services or to achieve efficiency improvements. The Industry 4.0 business model decomposition allows visualising which goal the initiative has, what the value offering is and which processes, technologies and capabilities are needed. As connectivity is a key dimension of Industry 4.0, technologies and systems are needed to connect internal and external processes.