This document discusses the need for a business model canvas for crowdfunding platforms in Malaysia. It conducted case studies of two crowdfunding platforms in Malaysia to develop a business model canvas. The key findings were that the platforms had the fundamental business model elements of partner network, core competency, key resources, value proposition, customer relationship, distribution channel, customer segments, cost structure and revenue stream. Interestingly, it also identified risk management as an important additional element for the business model canvas of crowdfunding platforms. Developing an effective business model canvas can help crowdfunding platforms in Malaysia manage their business and operations more efficiently.
Business models, business strategy and innovationJonh Honare
This document discusses business models and their importance. It makes three key points:
1) A business model describes how a company delivers value to customers, entices customers to pay for that value, and converts those payments to profit. It reflects management's hypothesis about customer needs and how the company can meet those needs and earn a profit.
2) Business models lack theoretical grounding in economics and business studies, which often assume markets will naturally support business activities. In reality, companies must design business models to address issues like capturing value from innovations.
3) Examples show how business model innovations, like Swift's centralized meat packing or Sea-Land's container shipping, can disrupt industries by creating new value propositions and
This document discusses business models and their importance. It makes three key points:
1) A business model describes how a company delivers value to customers, entices customers to pay for that value, and converts those payments to profit. It reflects management's hypothesis about customer needs and how the company can meet those needs.
2) Business models lack theoretical grounding in economics and business studies. Economic theory assumes markets will naturally form and customers will pay for value, so business models are unnecessary. In reality, entrepreneurs must design business models to create and capture value.
3) Examples show how business model innovation has disrupted industries. Containerization transformed shipping. Southwest Airlines succeeded with a low-cost model unlike major carriers.
Unit v new business model and strategy for internet economyDeborah Sharon
The document discusses business models and strategies for internet and e-commerce firms. It describes four aspects of business models including revenue sources, cost drivers, investment size, and critical success factors. It also discusses the web strategy where firms collaborate around a technology platform. Key points of the web strategy include technological standards, increasing returns, and different strategic roles firms can play as shapers or adapters. Revenue sources for internet businesses are also summarized including advertising, subscriptions, affiliate marketing, and selling data.
Effectiveness of knowledge management depends on how knowledge management process are aligned with an organizations infrastructure and processes that supports the achievement of organizations goals. To understand and represent relationships a simple list of elements and process is scanty, we need a holistic framework where all are integrated into a dynamic framework. The proposed framework is particularly focused on dividing the identified organizational building blocks into their constituent elements along both time and content dimensions to define characteristics of these elements, and it also define the relationships between the organizations to form a social ecology in which people effectively create share and use knowledge in business management. In this way, the developed framework can assist management to understand the true nature of the relationship that exist between an organization and knowledge management process, and exploit them for an organizations success.
The digital startup implementation handbook 2018Mondher Khanfir
All what Founders, Mentors and Investors need to know to better design and implement a business model for their digital startup. The eBook contains practical insights on the digital economy, and provides a didactic set of instruments that could be played with an exclusive role game www.mudircards.com
The document discusses the importance of business models in today's competitive environment. It defines a business model as representing the structures and mechanisms involved in creating, delivering, and capturing value for customers to earn profits and ensure sustainability. The key pillars of a business model are the value proposition, customer interface, infrastructure management, and financial aspects. Innovation is critical for business model sustainability as organizations must adapt, improve, and diversify over time. Examples are provided of companies like Apple, Intel, Google, and Amazon that have sustained success through business model innovation. The conclusion states that sustainability requires continuous business model innovation to develop strengthened models that derive the best outcomes.
Business Model Generation is a comprehensive guide to building innovative business models. From empathizing & connecting with customers to finding inspiration for products & learning from some of today’s most game-changing platforms, these blinks will help to kick-start the business thinking.
Overcome the challenges of business model design, generation, and reinvention by working through five critical stages:
1. Formulating your business model canvas. Consider how your organization will create, deliver, and capture value. Begin crafting a blueprint for how your strategy will be implemented that includes considerations for your customers, offers, infrastructures, and financial viability.
2. Understanding business model patterns. Look to other successful business models to find inspiration and deepen your understanding of the dynamics of your own approach.
3. Honing the design of your business model. Evaluate the tools and techniques of design that can help you envi¬sion possibilities, extend the boundaries of your thought, and create value for your customers.
4. Reinterpreting your strategy through the lens of your business model. Question the intricacies of established business models and how they function in terms of the context, drivers, and constraints of your business model environment.
5. Unifying the concept, tools, and techniques to make your model a success. Adapt your approach to business model design so you can overcome obstacles, achieve your critical success factors, and satisfy the needs of your organization
Business models, business strategy and innovationJonh Honare
This document discusses business models and their importance. It makes three key points:
1) A business model describes how a company delivers value to customers, entices customers to pay for that value, and converts those payments to profit. It reflects management's hypothesis about customer needs and how the company can meet those needs and earn a profit.
2) Business models lack theoretical grounding in economics and business studies, which often assume markets will naturally support business activities. In reality, companies must design business models to address issues like capturing value from innovations.
3) Examples show how business model innovations, like Swift's centralized meat packing or Sea-Land's container shipping, can disrupt industries by creating new value propositions and
This document discusses business models and their importance. It makes three key points:
1) A business model describes how a company delivers value to customers, entices customers to pay for that value, and converts those payments to profit. It reflects management's hypothesis about customer needs and how the company can meet those needs.
2) Business models lack theoretical grounding in economics and business studies. Economic theory assumes markets will naturally form and customers will pay for value, so business models are unnecessary. In reality, entrepreneurs must design business models to create and capture value.
3) Examples show how business model innovation has disrupted industries. Containerization transformed shipping. Southwest Airlines succeeded with a low-cost model unlike major carriers.
Unit v new business model and strategy for internet economyDeborah Sharon
The document discusses business models and strategies for internet and e-commerce firms. It describes four aspects of business models including revenue sources, cost drivers, investment size, and critical success factors. It also discusses the web strategy where firms collaborate around a technology platform. Key points of the web strategy include technological standards, increasing returns, and different strategic roles firms can play as shapers or adapters. Revenue sources for internet businesses are also summarized including advertising, subscriptions, affiliate marketing, and selling data.
Effectiveness of knowledge management depends on how knowledge management process are aligned with an organizations infrastructure and processes that supports the achievement of organizations goals. To understand and represent relationships a simple list of elements and process is scanty, we need a holistic framework where all are integrated into a dynamic framework. The proposed framework is particularly focused on dividing the identified organizational building blocks into their constituent elements along both time and content dimensions to define characteristics of these elements, and it also define the relationships between the organizations to form a social ecology in which people effectively create share and use knowledge in business management. In this way, the developed framework can assist management to understand the true nature of the relationship that exist between an organization and knowledge management process, and exploit them for an organizations success.
The digital startup implementation handbook 2018Mondher Khanfir
All what Founders, Mentors and Investors need to know to better design and implement a business model for their digital startup. The eBook contains practical insights on the digital economy, and provides a didactic set of instruments that could be played with an exclusive role game www.mudircards.com
The document discusses the importance of business models in today's competitive environment. It defines a business model as representing the structures and mechanisms involved in creating, delivering, and capturing value for customers to earn profits and ensure sustainability. The key pillars of a business model are the value proposition, customer interface, infrastructure management, and financial aspects. Innovation is critical for business model sustainability as organizations must adapt, improve, and diversify over time. Examples are provided of companies like Apple, Intel, Google, and Amazon that have sustained success through business model innovation. The conclusion states that sustainability requires continuous business model innovation to develop strengthened models that derive the best outcomes.
Business Model Generation is a comprehensive guide to building innovative business models. From empathizing & connecting with customers to finding inspiration for products & learning from some of today’s most game-changing platforms, these blinks will help to kick-start the business thinking.
Overcome the challenges of business model design, generation, and reinvention by working through five critical stages:
1. Formulating your business model canvas. Consider how your organization will create, deliver, and capture value. Begin crafting a blueprint for how your strategy will be implemented that includes considerations for your customers, offers, infrastructures, and financial viability.
2. Understanding business model patterns. Look to other successful business models to find inspiration and deepen your understanding of the dynamics of your own approach.
3. Honing the design of your business model. Evaluate the tools and techniques of design that can help you envi¬sion possibilities, extend the boundaries of your thought, and create value for your customers.
4. Reinterpreting your strategy through the lens of your business model. Question the intricacies of established business models and how they function in terms of the context, drivers, and constraints of your business model environment.
5. Unifying the concept, tools, and techniques to make your model a success. Adapt your approach to business model design so you can overcome obstacles, achieve your critical success factors, and satisfy the needs of your organization
The document discusses the FITT program at Imperial College London which helps foster the development of business models for new technologies. The program involves postgraduate students working with researchers and industry partners to develop business plans and models over multiple stages, with coaching from faculty. It aims to ease the burden on the university's technology transfer offices and foster creativity in exploring commercialization opportunities. Initial impressions of the program have been positive, though it is still early to fully evaluate its impact.
This document provides an overview of the IMI Diploma in Digital Business & MBS in Digital Business program. It discusses how digital transformation is impacting all businesses and the need to develop digital strategies. The program aims to help organizations understand digital business models and challenges through exploring topics like the mobile/social web, digital product development, marketing/sales, business intelligence, and governance. Participants will complete projects to apply the skills in transforming their own organizations. The program directors have extensive experience in innovation and digital technologies.
Business incubation islamic framework yacoutDDoha Yacout
This document introduces a new framework for business incubation that uses a threefold approach combining fundamental, academic, and practical support from pre-incubation to post-graduation. It addresses obstacles small and medium enterprises face in financing by offering partnership-based funding from the beginning. A case study of the Project Incubation Center is presented, which was founded by the Arab Academy for Science, Technology and Maritime Transport to professionalize learning outputs into real enterprises. Cooperation with investment associations is discussed to offer funding opportunities and help young business starters.
Entrepreneurial personal networks and performance of
small and medium scale Enterprises (SMEs) in Kano
State, Nigeria
1Amaka Cordelia Egele , 2Kibuuka Muhammad (PhD) , 3Mutenyo John (PhD)
Federal College of Education Kano, Nigeria.
2 3Kampala International University, Kampala, Uganda.
The document outlines an upcoming business seminar that will provide insights on building, scaling, and leveraging a business. It will cover topics like identifying profitable business ideas, crafting business plans, choosing a legal structure, scaling and diversifying a business, integrating technology, and leveraging a business for growth. The seminar aims to help business owners succeed in Nigeria's challenging economic environment.
The Impact of Intellectual Capital on Firm Performance of Manufacturing SMEs ...IIJSRJournal
There are various factors from empirical studies that many factors influence firm performance. The purpose of this conceptual paper is to review the impact of intellectual capital as a unidimensional factor on the performance of manufacturing SMEs operating in Malaysia. The framework was developed after a systematic review of past literature. The present paper found the critical influence of the study's variables on firm performance. Furthermore, the study provided some understanding of how intellectual capital affects manufacturing SMEs' performance in Malaysia. Intellectual capital plays an important role in influencing a Manufacturing SMEs firm performance. The paper emphasizes the critical value of intellectual capital for SMEs owner/managers consideration when acting on behalf of their company, failing to experience poor performance. Resource-Based View (RBV) theory underlies the conceptual framework and explains the relationship among variables. In addition, some implications of this conceptual model for theory and practice are discussed.
Business incubation programs provide resources and services to help new companies become successful. They offer office space, business support services, financing assistance, and access to networks to help businesses get off the ground and become self-sufficient. The goal is to support entrepreneurs and help produce new companies that will create jobs and contribute to the local and national economy. Incubators screen which companies to accept to ensure they offer viable business ideas with potential for growth. They graduate companies after several years that are then financially stable and independent.
1. The document discusses digital business, including how digital technologies are used to create new business models and customer experiences.
2. Some benefits of digital business mentioned include the ability to rapidly enter new markets, form new partnerships, and reach more customers. However, digital business also faces challenges like security, privacy, and maintenance issues.
3. The article outlines some key steps in developing a digital business like identifying customer problems and solutions, achieving product-market fit, and determining customer willingness to pay. It also discusses strategies like increasing market share and revenue.
IR Integrated Reporting - Creating Value Value to the Board #IIRCAgustin del Castillo
There is a recognized need to promote financial stability and sustainable development. Much can be achieved
if investment decisions are made on the basis of long- term value creation, especially if corporate behaviour
is aligned to this aim. Demonstrating the link between investment decisions, corporate behaviour and reporting is one aim of this Creating Value series.
Financial services for fund based credit facility in the from of cash creditPritesh Radadiya
Nikul Shah & Associates is a sole proprietorship firm established in 1997 that provides financial services and arranges loans from banks. It has 10 employees led by director Nikul Shah. The company aims to understand clients' financial needs and deliver customized solutions through a team of accounting, finance, legal and banking experts. It arranges various types of individual, business and project loans from nationalized, private banks and non-banking financial institutions. The company strives to maintain high integrity and focus on client needs through innovative financing solutions.
This document provides an overview of e-business and recent trends in marketing. It defines e-business as utilizing information and communication technologies to support all business activities. Key benefits of e-business include lower startup costs, broader customer reach, and new revenue streams through online sales. The document also outlines various e-business models and terms, including sources of revenue, required business activities and resources, and drivers of the growing Indian e-commerce market. Overall, the document discusses how e-business can help companies expand their customer base, become more competitive, and create new online business opportunities.
Finding Start-Up Trends along with their Valuation by means of mathematical f...IRJET Journal
This document discusses trends in start-ups and their valuation in India from 2008 to 2022. It provides data showing that the number of start-ups and unicorns has increased significantly over this period, especially in recent years. Mathematical formulas and graphs are used to analyze valuation based on factors like EBITDA, revenue multiples, and discounted cash flow. The top 30 Indian unicorn start-ups are also listed with their 2023 revenue and valuation figures. Key factors driving the growth of the Indian start-up ecosystem include technological advancement, government support, availability of capital funding, and a young talented workforce.
The document discusses different types of e-business models that companies can adopt when incorporating e-commerce strategies. It identifies several models including the advertising model, e-retailing model, channel model, affiliate model, franchise model, and subscription model. It also discusses frameworks for categorizing e-business models based on factors like the user role, interaction patterns, offerings, and value integration. No single model is considered best - the most appropriate model depends on a company's specific business and goals.
Value Creation Concept and Approach for VCYee Jie NG
1) The document discusses value creation as a service (VCaaS) which involves delivering business and customer development activities to add value to portfolio companies for venture capital firms.
2) It recommends that venture capital firms implement a full value creation program using program management principles to align strategy, people, processes, technology, structure, and metrics. This would provide an end-to-end approach to helping portfolio companies.
3) Steve Blank's customer development model is proposed as a framework for the value creation activities, focusing on discovering customer needs and validating business models and tactics.
This document discusses business models and business plans. It explains that a business plan is meant to convince investors, while a business model is a shared mental model that guides a business. The document outlines elements of a business model framework including vision, value proposition, market reach, activities and resources. It then describes an exercise for workshop participants to design business models for potential e-business opportunities.
Business Models and Dynamic CapabilitiesDavid Teece
Business models and dynamic capabilities. This document discusses business models, their design and evolution. It defines a business model as articulating how a business creates and delivers value to customers and outlines associated revenues, costs and profits. Designing a business model involves figuring out revenue and cost architectures. Business models must be validated and refined over time. Technological changes can enable new business models. Firms must develop the dynamic capabilities to adapt their business models in response to changing competitive conditions and technologies.
iStart feature: How to hatch your bjusiness idea: A guide to A/NZ incubators ...Hayden McCall
The statistics are compelling; basically half of all new
start-up businesses fail within two to five years. Since the rise of businesses incubators and accelerators statistics show that the successful completion of an incubator programme plays a significant role in the success rate of a company. Fiona Hanlon investigates....
Universal Association provides consulting services to help small and mid-sized businesses select optimal communication and collaboration platforms. They conduct in-depth analyses of client needs and the available platforms to make recommendations. Their services include an initial consultation, platform installation, and training. A cost-benefit analysis found their services have a projected 51% return on investment over three years. Client feedback was positive and they were receptive to Universal Association's flexible services and daily training rates.
Ventacy.com is a business platform that facilitates connections between entrepreneurs and investors. It aims to create a global business context where the exchange between business and financial assets can decrease transaction costs.
Business Models and Dynamic CapabilitiesDavid Teece
This document provides an overview of David Teece's keynote speech on business models and dynamic capabilities to German and Swiss executives. The speech covers several topics:
1. Definitions and elements of business models, including how they create and capture value.
2. The process of designing and evolving business models over time in response to technological changes and competition. Examples of Ryanair and SpaceX are discussed.
3. The relationship between business models and strategy, noting that business models constrain and enable certain strategic actions based on their design.
4. How dynamic capabilities allow companies to adapt their business models by recombining elements as markets and technologies change. Maintaining coherence across elements is important for success.
Writing Paper Set Cheerfully Given. Online assignment writing service.Ann Wera
While Black Friday and Cyber Monday are both major shopping events, they differ in their focus and approach. Black Friday traditionally involves in-person shopping on the day after Thanksgiving at brick-and-mortar stores with doorbuster deals. Cyber Monday, occurring the following Monday, focuses on online sales and digital deals to encourage consumers to do their shopping online from the comfort of their homes. Both events are highly profitable for businesses and represent the unofficial start to the holiday shopping season, but target different shopping preferences and methods among consumers.
How To Make Yourself Write A Paper - Amos WritingAnn Wera
The document provides instructions for using the HelpWriting.net service to have papers written. It outlines a 5-step process: 1) Create an account with valid email and password. 2) Complete an order form with instructions, sources, and deadline. 3) Review bids from writers and choose one based on qualifications. 4) Review the completed paper and authorize payment. 5) Request revisions until satisfied, with a refund option for plagiarized content. The service aims to fully meet customer needs through an online writing assistance platform.
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The document discusses the FITT program at Imperial College London which helps foster the development of business models for new technologies. The program involves postgraduate students working with researchers and industry partners to develop business plans and models over multiple stages, with coaching from faculty. It aims to ease the burden on the university's technology transfer offices and foster creativity in exploring commercialization opportunities. Initial impressions of the program have been positive, though it is still early to fully evaluate its impact.
This document provides an overview of the IMI Diploma in Digital Business & MBS in Digital Business program. It discusses how digital transformation is impacting all businesses and the need to develop digital strategies. The program aims to help organizations understand digital business models and challenges through exploring topics like the mobile/social web, digital product development, marketing/sales, business intelligence, and governance. Participants will complete projects to apply the skills in transforming their own organizations. The program directors have extensive experience in innovation and digital technologies.
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Entrepreneurial personal networks and performance of
small and medium scale Enterprises (SMEs) in Kano
State, Nigeria
1Amaka Cordelia Egele , 2Kibuuka Muhammad (PhD) , 3Mutenyo John (PhD)
Federal College of Education Kano, Nigeria.
2 3Kampala International University, Kampala, Uganda.
The document outlines an upcoming business seminar that will provide insights on building, scaling, and leveraging a business. It will cover topics like identifying profitable business ideas, crafting business plans, choosing a legal structure, scaling and diversifying a business, integrating technology, and leveraging a business for growth. The seminar aims to help business owners succeed in Nigeria's challenging economic environment.
The Impact of Intellectual Capital on Firm Performance of Manufacturing SMEs ...IIJSRJournal
There are various factors from empirical studies that many factors influence firm performance. The purpose of this conceptual paper is to review the impact of intellectual capital as a unidimensional factor on the performance of manufacturing SMEs operating in Malaysia. The framework was developed after a systematic review of past literature. The present paper found the critical influence of the study's variables on firm performance. Furthermore, the study provided some understanding of how intellectual capital affects manufacturing SMEs' performance in Malaysia. Intellectual capital plays an important role in influencing a Manufacturing SMEs firm performance. The paper emphasizes the critical value of intellectual capital for SMEs owner/managers consideration when acting on behalf of their company, failing to experience poor performance. Resource-Based View (RBV) theory underlies the conceptual framework and explains the relationship among variables. In addition, some implications of this conceptual model for theory and practice are discussed.
Business incubation programs provide resources and services to help new companies become successful. They offer office space, business support services, financing assistance, and access to networks to help businesses get off the ground and become self-sufficient. The goal is to support entrepreneurs and help produce new companies that will create jobs and contribute to the local and national economy. Incubators screen which companies to accept to ensure they offer viable business ideas with potential for growth. They graduate companies after several years that are then financially stable and independent.
1. The document discusses digital business, including how digital technologies are used to create new business models and customer experiences.
2. Some benefits of digital business mentioned include the ability to rapidly enter new markets, form new partnerships, and reach more customers. However, digital business also faces challenges like security, privacy, and maintenance issues.
3. The article outlines some key steps in developing a digital business like identifying customer problems and solutions, achieving product-market fit, and determining customer willingness to pay. It also discusses strategies like increasing market share and revenue.
IR Integrated Reporting - Creating Value Value to the Board #IIRCAgustin del Castillo
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if investment decisions are made on the basis of long- term value creation, especially if corporate behaviour
is aligned to this aim. Demonstrating the link between investment decisions, corporate behaviour and reporting is one aim of this Creating Value series.
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Nikul Shah & Associates is a sole proprietorship firm established in 1997 that provides financial services and arranges loans from banks. It has 10 employees led by director Nikul Shah. The company aims to understand clients' financial needs and deliver customized solutions through a team of accounting, finance, legal and banking experts. It arranges various types of individual, business and project loans from nationalized, private banks and non-banking financial institutions. The company strives to maintain high integrity and focus on client needs through innovative financing solutions.
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The document discusses different types of e-business models that companies can adopt when incorporating e-commerce strategies. It identifies several models including the advertising model, e-retailing model, channel model, affiliate model, franchise model, and subscription model. It also discusses frameworks for categorizing e-business models based on factors like the user role, interaction patterns, offerings, and value integration. No single model is considered best - the most appropriate model depends on a company's specific business and goals.
Value Creation Concept and Approach for VCYee Jie NG
1) The document discusses value creation as a service (VCaaS) which involves delivering business and customer development activities to add value to portfolio companies for venture capital firms.
2) It recommends that venture capital firms implement a full value creation program using program management principles to align strategy, people, processes, technology, structure, and metrics. This would provide an end-to-end approach to helping portfolio companies.
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3. The relationship between business models and strategy, noting that business models constrain and enable certain strategic actions based on their design.
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The acceptance rate of crowdfunding is low and trustworthiness of the crowdfunding platform is not
visible [2]. Crowdfunding structure is also still unclear [3]. Without clear business model, the success of
crowdfunding is not guarantee. It is required as a proper guideline for the organization to run its operation
while minimizing risks. Since crowdfunding is relatively new in terms of its technological usage and it exists
in an uncertain economic environment, new business model is required to make sure the business process can
be clearly and effectively implemented. [4] stated that business environment with various discipline,
including Information System, marketing and operationalization requires to have a comprehensive business
model that are inclusive. This research thus contributes towards the development of business model canvas
for crowdfunding platform by adopting case study technique.
2. LITERATURE REVIEW
The literature review will be discussing on the business model and crowdfunding. The discussion
will be revolved around the definition of the terminology, the main elements and different types for
both areas.
Business model can be defined as an abstract portray of the business rational of an organization [5].
It comprehends the business logic as abstract conceptual of the way a company makes profits, what it offers,
to whom it offers and how it can achieve this. At the most basic level, the business model is defined
exclusively as organization’s economic model. It includes revenue sources, pricing methodologies,
cost structures, margins, and expected volumes [6]. In [7] describe business model as a conceptual tool that
contains a set of elements and their relationships and allows expressing the business logic of a specific firm.
It is a description of the value a company offers to one or several segments of customers and of the
architecture of the firm and its network of partners for creating, marketing, and delivering this value and
relationship capital, to generate profitable and sustainable revenue streams. Table 1 highlight the definition of
business model as adapted from [8].
Table 1. Definitions of Business Models
Authors Definition of Business Model Focus of research
[9] How a firm delivers value to customers and converts
payment into profits
Notes business models are often ‘shared’. Relates business
model innovation to technical innovation.
[10] The business model is a system of interdependent
activities that transcends the focal firm and spans its
boundaries.
Emphasizes interdependencies beyond firm boundaries. Good
business model design requires Content (what), Structure
(links) and Governance (who does what).
[11] Cost innovation business model offers upperhand
from emerging economies in radically new ways
meaning more for less.
Low cost business models from China (and India) how low
cost business model work and the challenge they pose
[12] Business model is a mechanism for converting ideas
into profit at reasonable cost. Business model
innovation as new way of capitalising value of
underlying asset
Examines Business-Model innovation in high technology
sectors that allows small firms to capitalise on their ideas.
[13] Business model is a profit system, an activity system
and a learning system
Puts learning centre stage, and classification is by firm
systems
[14] A value system plus a value constellation A social business model that lies between for profit and not-
for profit
[15] The logic of the firm, the way it operates and how it
creates value for its stakeholder
Interfaces between Business Model, Strategy and Tactics
[16] The way activities and resources are used to ensure
sustainability and growth
Dynamics of Business Model change over time
[17] Cross roads of competence and consumer needs Portfolio of Business Models
Business models have substantially evolved since the late 1990s. Throughout the years, business
models reach its maturity. One of the key drivers behind business model evolution is viewed as
technologically innovative and progress enabling ubiquitous communications and increasingly cheap
approaches to pass on rich amounts of information [9]. In [18], mentioned that the success of businesses will
depends on the ability to take advantage of technological shifts to innovate and enhance in their business
models, and eventually to compete differently. The business models keep on changing to adapt the business
environment also to provide efficiency to organization and provide value to consumer.
In [19], allude that business model design as the design of a focal firm’s set of boundary-spanning
transactions with outer parties. From their perspectives, the relationships between focal firm performance and
business model design configuration can be observed by looking at two different effects: the total value
creation potential of the business model design and the focal firm’s ability to appropriate that value.
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They also highlighted the importance of business model as practical strategy which ensure performance and
success of an organization. This somehow expresses the imperative of having business model for any
organization.
Crowdfunding transactions are facilitated through the internet-based crowdfunding platforms that
provide a convenient way for all the exchange of funds [20]. In [21], define crowdfunding as an instrument of
raising fund or collecting money from public through online portals to finance both commercial and social
projects. In [22] also stated similar definition of crowdfunding where he stated crowdfunding as an open call,
most done through Internet, for the provision of financial resources either in the form of donation or in
exchange for future product or some reward to support the initiatives for specific purposes. Based on [3],
there are five types of crowdfunding namely:
a) Donation: This is a campaign, which calls for public donation. The crowd will draw up monetary gifts
(i.e. donations) towards a charity or public institution/organization for some good causes.
b) Reward: It is called a reward-based crowdfunding because those who participate will receive some kind
of incentives or rewards. Specifically, a campaign to fund the project is drawn, and in return,
the funders are promised to be rewarded with the products or the limited-edition version of the products or
any other appropriate gifts.
c) Crowdsourcing: This refers to some start-up projects that may require collective ideas, skills and
expertise to develop new products or project. These sources could come internally or externally, and a
person who contributes most maybe given equity in the project. Three key players in crowdsourcing are
job provider, platforms and digital workers [23]. This type of crowdfunding can also aid the low-income
community to uplift their lifestyle through completing task posted via the crowdsourcing platforms
[24, 25].
d) Equity: This type of crowdfunding offers the funders the ownership of the company. By funding the
startups, they are promised the ordinary shares of the newly formed company. In [26] define equity
crowdfunding as a method of raising fund by selling a specified amount of equity to a group of small
investors through online platforms. These ordinary shares allow the funder’s equal right in the company,
as any common shareholders would have.
e) Peer-to-Peer Lending (P2P): This mechanism relates to the lending of money through IT platforms.
The crowd invests in the startup of a project in return for interest payment. Collecting the money from the
crowd who want to participate raises the amount needed. They are promised a return on the capital
invested alongside with interest payment at maturity
Crowdfunding have three parties involve; the owner or the founder who proposes the idea or the
project, the funders or the supporters who trust the project idea and willing to fund the project, and the
platform, which brings the entrepreneurs and the funders together in order to achieve the objectives of the
project. The platform plays a very significant role as it is intermediaries between these two parties [3].
There are many crowdfunding platforms, which have proven their capabilities to provide funds to support
finance of the new projects. This attribute has expanded, not only providing capital for businesses, but also
for social projects [21]. The crowdfunding platforms in Malaysia have been growing rapidly since 2012.
Among widely known crowdfunding platform in Malaysia are Mystartw, PitchIn, Skolafund and Ata-Plus.
3. METHODOLOGY
This research adopts case study methods. Two organizations participated in the case study which
will be acknowledged as Organization A and Organization B. Interview and documents review were
employed as data collection technique. In total, five respondents were interviewed; three from Organization
A and 2 from Organization B. For the interview session, semi-structured questions were asked with regards
to the following concerns; the organization background, the practices of crowdfunding and the business
elements in making crowdfunding a success business.
After the interviews have been successfully conducted, the researchers continuous with document
review process. In this phase, the researchers review the documents such as project pitching form, company
statement history and crowdfunding procedure and implementation process. This is to get a better and clear
picture of how crowdfunding works and its associated process.
All information acquired from interview and documents review technique was analyzed using
content analysis technique. The Business Model Canvas was then proposed using business-model planning
tool designed by [7]. The canvas consisted of nine building blocks namely value proposition, customer
segments, channels (to reach customers), customer relationships, revenue streams, key resources,
key partners, key activities, and cost structure. Interestingly, after data analysis, there is one more segment
which is also imperative to be included: risk management. The detail description of the analysis is described
in the next section.
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4. RESULTS AND DISCUSSION
The analysis and discussion will be divided into two sections: the crowdfunding practices and the
Business Model Canvas development. The detail description of the results is as follows.
4.1. The Crowdfunding Practices
Organization A and Organization B started their crowdfunding initiative in 2012 and 2016
respectively. The two organizations participated in the case study is based on different types of crowdfunding
platform. Organization A specialize in reward-based meanwhile Organization B specialize in equity-based
crowdfunding. The types of the platform are crucial to be highlighted as the execution of business operation
would be different.
It can be concluded that both organizations have three main phases in crowdfunding activities:
pre-launch, launch and post-launch. Both organizations require the entrepreneurs to submit their proposal
online using their platform. They will then evaluate the proposal. Organization B added that they have two
level of screening; Level 1 is to check the credibility of the entrepreneur by checking their background
diligently, meanwhile Level 2 is conducted to checks their business planning and future plan. This is to make
sure that they will sustain in the future and not using this platform as a gateway to receive easy money.
During launch phase, both organizations stated that the entrepreneurs will start to market their project
to the public. Since proper marketing plan makes a huge difference in the result, entrepreneur will promote
their products in many ways as possible including via new media and traditional ways. Both organizations
stated their willingness to help the entrepreneur whenever their assistance is required.
Post-launch phase demonstrates different activities due to different focus of the platform.
Organization A stated that they will provide all the necessary documents and statements within a week after
project ended. The money will be transferred to the entrepreneur after deducting 10% service charge.
The entrepreneur will continue with project completion and reward the funder afterwards. On the other hand,
the post-launch activities for Organization B are quite different. Third escrow fund account will be
established and they will be responsible to collect the fund from the investors until it reaches 100% of the
funding target. If the fund does not achieve 100% target within the stipulated time period, the investment will
be cancelled and the fund will be returned to the investors. If it is successfully collected, Organization B
provides the platform where the entrepreneur can update the progress of the projects to the investors.
4.2. The Business Model Canvas
The Business Model Canvas (BMC) is a strategic management tool to define and communicate a
business idea or concept. It is a one-page document which works through the fundamental elements of a
business or product, structuring an idea in a coherent way [7]. Figure 1 shows the business model canvas for
crowdfunding platforms in Malaysia compiled from two organizations participated in the research. There is
additional component to this BMC, which is risk management that covers some area of risks in performing
the crowdfunding business. The proposed BMC provide a comprehensive and inclusive business model
which will lead to a clear and effective implementation of crowdfuncding. The following discuss the BMC as
shown in Figure 1 in detail.
4.2.1 Value Propositions
Value propositions can be described as services and value-added activities delivered by a
crowdfunding company to fulfil entrepreneur needs and value to customers.
a) Entrepreneur: Accessibility of funding to everyone-using crowdfunding platform, entrepreneur can have
the accessibility of crowdfunding services. Almost anyone within the reach of the crowdfunding platform
is viable to become entrepreneur and have similar chance to be funded by investors. Crowdfunding builds
a rapid fan-base of customers who like and believe in the project so much that they are willing to pre-pay
for the campaign.
b) Funders: Transparent funding-Crowdfunding provide the platform for funders who likes new inventions
and it gives huge interest to them as they seeking interesting products and projects. These supporters put
front their money in the start-up of a small business, they received reward either as a gift, tangible reward
or company shares. The transparent means the funders do not have to dive headfirst into the project or
investment. Instead, they have the option to collect as much insight beforehand as they like and make the
decision from there. Thus, they are the one who help the development of entrepreneurs to grow. They also
provide the platform to allows the entrepreneurs to updates their projects frequently.
c) Funders: Early Involvement in Projects-Once early adopters vet and buy into entrepreneur’s idea, others
are more likely to follow suit. Involvement by supporters which considered as loyal customer can
improve the overall company improvement. Besides that, social proof is translated into traction.
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This perspective could make an early involvement in projects or growing companies become competitive
and have real feedback from customers.
d) Beneficial Gain-Crowdfunding works in a way as a convenient platform, low cost, clear and fair funding
process. It is also seen as a value proposition for entrepreneurs as well as funders, which adds value by
facilitating crowdfunding process on online platform. On the same page, with the use of this platform,
many innovative and value-added services have become possible that were unlikely to be imagined using
traditional fund-raising method. This scenario allows all actors in crowdfunding activities to receives
numerous benefits; entrepreneur gets to be funded to proceed with their project, funders will receive
rewards for their funding activities and the platforms receives trust from these activities. This research
supports a finding by [27] which stated that platforms must be compelling to as part of its value
proposition
Figure 1. Business model canvas for crowdfunding platform
4.2.2 Customer Segments
Customer segment can be defined as the type of customers that a crowdfunding platform wants to
address and attract by offering value propositions. In general, there are two types of independent customers
for crowdfunding platform, which are entrepreneur and funders.
a) Entrepreneurs - Crowdfunding platforms let entrepreneur raise money from an engaged community of
supporters and investors while maintaining company in control. Furthermore, crowdfunding gives
entrepreneur exposure to a passionate group of early adopters who are looking to invest in the next big
thing, plus access to tools entrepreneur can use to grow the business. Entrepreneur can be the creator,
small business, or non-profit organization.
b) Funders - Another customer segment is funders. They are the group of people who have same compelling
interest towards a project, who lend money to entrepreneurs’ project. The change in product towards
improvements and innovative attracts more funders. The entrepreneurs take on the role of being someone
who provides golden projects, while funders find project they are interested with and fund it. Most of
citizens in Malaysia are getting exposure to crowdfunding. The number of both entrepreneur and funders
is expected to growth in future.
4.2.3 Distribution Channels
Distribution channels describe how the crowdfunding platform gets in touch with its customers and
delivers information to them. The following is the channels currently being used as distribution channels in
crowdfunding.
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a) Website-Being a full technology web-based company, the crowdfunding platforms’ website
(landing page) is crucial. In terms of technology, what it needed is to offer the service of crowdfunding
via website that contains everything about the company, guideline, as well as the launched project.
There are several ways of crowdfunding platform use to distribute the news such as using blogs for people
who loves to read. Usually, the blog will be within the domain website of the company.
b) Social Media-With nearly half of the world’s population using social media platforms, it is a natural place
to reach new and highly targeted potential funders. Social media such as Facebook can act as a marketing
channel that really make a big different in company’s engagement and content marketing for soft selling.
The ability to create real human connection is another key benefit of social media for business.
c) Offline Presence-Subsequently, other way to target specific segments and reach funders is through direct
sales force, which is an offline event. Many crowdfunding platforms join events and give consultation
about crowdfunding to public to attract more people to participate in crowdfunding.
For entrepreneur, the amount of capital a project raises from the funders can be seen as an indicator of
how well the market responds to the entrepreneur’s idea. Another aspect of the social relationship is the
power of word-of-mouth. Most of entrepreneur and funders discover crowdfunding platforms through
friends, family and others.
4.2.4 Customer Relationships
Customer relationships refer to the relationship that the crowdfunding platform build and maintains
with its customers. The customer relationship is:
a) Campaign Support-The crowdfunding platforms provide support for campaign launch (website).
The platforms also provide continuous support to both entrepreneurs and funders. This can be considered
as the lifeblood of a company’s business activity.
b) Consultation Service-Crowdfunding platforms provide consultation and gives extra services to support
entrepreneur. Business advice services may be recognized as golden piece of work that may help the
entrepreneurs to escape difficulty in doing the crowdfunding campaign. For example, an application form
in crowdfunding platform may recommend a guideline in making company pitching for themselves.
4.2.5 Core Competency
The main competency of a platform is to always have something creative ideas to the market.
Enabling new features or new ways of doing something would gain popularity and make things interesting.
Besides that, crowdfunding platform requires scalable infrastructures and distributed platforms.
The platforms will then be specialized niche players or have large benefits from outside partnership. Also,
as the crowdfunding platform goes loud, the ability to adapt to the increasing number of users could be in
check. Different types of platforms lead to their specialty and for some, this allow fundraising to be
completed rapidly.
4.2.6 Partner Network
Partnership refers to the voluntarily initiated cooperative agreement of a company with other
companies in order to carry out activities related to value propositions. In Malaysia, the partner network for
crowdfunding platform includes:
a) Business Community-Crowdfunding companies work with other companies for marketing and sales
support purposes. They work together for cross-promotional, security and regulations and branding
purposes to allow for better crowdfunding implementation. The positive values instill by this business
community helps in increasing the reputation of crowdfunding platforms while allowing them to provide
better and efficient service to their customer segments.
b) Payment Gateway-In digital company, usually they form a partnership with payment gateway and website
services company. By partnership, business process of crowdfunding could be more efficient and secure.
However, equity crowdfunding companies may need to develop strong partnerships for the acquisition of
data. In some cases, the agreement for data with Security Commission is difficult to achieve. On the other
hand, reward-based crowdfunding platform does not require such thing to run the business.
4.2.7 Key Resources
Key resources describe the arrangement of activities and resources. The three main activities for
crowdfunding platform are as follows:
a) Marketing-Once the proposal has been reviewed and approved, crowdfunding platform will help to
market the project through their digital platform.
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b) Digital Platform-Considered as in-house capabilities, this resource is ultimately important to promote
their products as well as services offered and as a platform of communication between their customers
and partners.
c) Partnership-In ability to create more establish environment, crowdfunding platform continuously finding
and establishing partnership with various business community.
4.2.8 Cost Structure
Cost structure describes the costs incurred by crowdfunding platform company for delivering value
propositions to its customers and doing all other business activities such as establishing partner relationships
and marketing. The cost is stated below:
a) Capital cost-Capital cost can be considered as low barrier of entry in crowdfunding industry. The cost is
required for the infrastructure as they need a place for their operation.
b) Operating cost-These costs include costs of acquiring and maintaining data centers (e.g., costs of servers,
electricity, cooling, and the use of cloud services) and developing and maintaining the platforms. In some
cases, there may be costs for acquiring data required by equity crowdfunding platform. Other costs
include sales and marketing costs, which keep increasing to target larger audience.
4.2.9 Revenue Stream
Revenue streams describe the incoming money stream of the crowdfunding platform by offering
values to its target segments. It outlines the activities and pricing of the offered values with which a company
improves its revenues. The revenue stream for crowdfunding platforms are as follow:
a) As crowdfunding platform, the revenue streams are based on project commissions of successfully funded
projects. It mostly relies on commission revenues.
b) Other sources of revenue included the consultation and service charge. By providing additional service to
entrepreneur that struggling to do some of the process, both entities gain benefits. It’s a win-win situation
whereby the entrepreneur problems are being solved and the platform receives money from it. Having the
idea to get additional income for company is best to make it profitable in long run.
4.2.10 Risk Management
Crowdfunding platform organization should do screening of the entrepreneur to diligently
understand their background and capability. Thus, a strong project needs to consider a well plan strategy by
entrepreneur to ensure a successful campaign. This finding is highly relevant with other finding by [28]
which discussed the possibility of crowdfunding risks and the importance to coming up with a solution that
can mitigate the risk including the inclusion of blockchain technology. In [29], also stated risk assessment in
digital environment including transparency to increase the trust between the related parties.
5. CONCLUSION
The exposure of crowdfunding especially in Malaysia is still relatively low. The lack of proper
business model has lead to unclear and ineffective management of crowdfunding. Thus, there is a need to
propose a business model that will help the crowdfunding platform company specifically and entrepreneur
and funders generally to understand how crowdfunding works. This paper thus proposed business model
canvas for crowdfunding implementation. There are total of 10 building blocks introduced in the BMC
namely partner network, core competency, key resources, value proposition, customer relationship,
distribution channel, customer segments, cost structure, revenue stream and risk management. The building
blocks takes into consideration the technological innovativeness enabling ubiquitous communications
changing to adapt to rapid business environment and to provide efficiency to organization and provide value
to consumer.
ACKNOWLEDGEMENTS
The authors would like to thank to Research Management Institute, Universiti Teknologi MARA,
Malaysia for their funding support under LESTARI Research Grant with project code 600-IRMI/Dana KCM
5/3LESTARI (157/2017). The paper also acknowledged the support given by Crowd Business and
Innovation Research Interest Group, Faculty of Computer and Mathematical Sciences, UiTM Shah Alam.
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