Author: In-Ho Stephen Kim
, Tae-Yong Daniel Ku
and Byung-Yoon Michael Lee
Summary:
Defining business model as the logic/mode/way/framework to seek profit/money and glancing at the evolution of concept business, this paper develops a business model schema (BMS) as a holistic two-dimensions multi-level tool/method for business model innovation (BMI) based on the direct causal mechanisms of profit (DCMP). First, this paper takes DCMP as the logical/theoretical framework by which business model innovation process is identified and specified. And according to that process, it develops a BMS, illustrates an example of BMS to show up its practical usefulness, compares the similarities and differences between BMS and the existing powerful one business model canvas (BMC), and finally asserts that BMS must be a good and useful method in theory and practice because it stands on DCMP that ensures the genuine causality of profit and also it turns out practically useful, recalling the Kurt Lewin’s maxim (1945), -œThere is nothing so practical as a good theory.
