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New Business Models in the Cultural and Creative Sectors - Coggle Diagram
New Business Models in the Cultural and Creative Sectors
Definition of Business Models (BMs)
Describes the rationale of how an organization creates, delivers, and captures value.
Is an abstract representation of a given aspect of a firm’s strategy; it outlines the essential details one needs to know to understand how a firm can deliver value to its customers.
Is a representation of a firm’s underlying core logic and strategic choices for creating and capturing value within a value network.
In the CCSs is understood as a set of assumptions about how an individual entrepreneur or an organization creates value, delivers value to a customer, and captures the value and turns it into economic, social, and /or cultural output.
As the technology evolves, both researchers and policymakers should expect further, rapid changes in the development of BMs in the CCSs.
The “Value” dimension to define BMs in the CCSs
2 remarks are of relevance for the mapping of BMs in the CCSs.
Financing models are one of their components.
A purely commercial understanding of the BMs in the CCSs cannot be applied
to the whole sector.
Typology of new BMs in the CCSs
In order to create a useful review of BMs in the CCSs, many different streams in the literature have been reviewed, such as:
Literature on the influence of the digital to the CCSs,
new consumer patterns, social and open innovation literature, etc.
Research findings show on the one hand that currently many actors and branches in the CCSs are in a phase of new BMs application and experimentation.
There is not a single BM valid for all the CCSs
New BMs in the CCSs appeared as a response to a number of interconnected global technological, cultural and social challenges
The change from analogue to digital
Changing consumer behavior
Gaps in financing of new and innovative ideas and cost reduction
Changing working methods and patterns