1 The rising relevance of understanding business models

Growing attention around the business model concept is based on the combination of two major factors that have arisen over the last 25 years and radically changed the competitive landscape. First, the advent of the digital era and new information and communication technologies have disrupted traditional ways of doing business and unlocked new ways of creating value. For example, in industries like transportation (Uber), accommodation (Airbnb), music (Spotify), retail (Amazon) and telecommunications (Skype), where new agile technology-based businesses using mainly bits and bytes have replaced traditional bricks and mortar businesses.

Second, hyper-dynamic and globalized markets have forced ...

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