Vol. 10 No. 1 (2020): Vol 10, Iss 1, Year 2020
Articles

Identifying and incorporating business requirements into the business model

Wangchuk Chungyalpa
School of Management and Commerce, SRM University Sikkim, 5th mile, Tadong, Gangtok, Sikkim, 737102, India
Published February 20, 2020
Keywords
  • Business requirements in business modeling, business requirements incorporation, strategic objectives and business requirements, strategy and business model alignment
How to Cite
Chungyalpa, W. (2020). Identifying and incorporating business requirements into the business model. Journal of Management and Science, 10(1), 32-44. https://doi.org/10.26524/jms.2020.5

Abstract

A business model by definition is an abstract representation of the business logic of a firm and as such encapsulates the core aspects of a firm. Business model ideation is a sequential process composed of three precursors - surveying the technological landscape, identifying and incorporating customer outcomes, identifying and incorporating business requirements. These precursors serve as key inputs to the final business model ideation phase. This paper focuses on
the third precursor, identifying and incorporating business requirements into the business model,and this is termed as developing the business perspective.
The paper consists of three sections. The first section explores the concept of business requirements - what it is and how to identify business requirements. The second section explores the concept of business model. Specifically, it will focus upon the concept of business model as defined in the Business Model Ontology. The final section details out how to develop the business perspective i.e. explicates methodology by which business requirements can be incorporated into the business model of a firm using Solution Summary matrix, Solution Comparison matrix and the Solution Canvas.

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