Definition and classification of digital business models

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The Impact of Digital Business Models on a Company’s Core Operations and Activities with a Special Emphasis on German Markets and Industries Student’s Name: Institutional Affiliation: Introduction What We Are Talking about, Definition and Explanation of Main Concepts and Ideas The primary focus of any business model is to offer a foundation for the functioning of any firm or enterprise. The key drivers of the innovative business model have been recent advances in information technology and the rising demand for socially motivated industries as a basis of competitive advantage. Bouwman identifies that a business model reflects the main logic of the firm, how it creates value to consumers and how it operates on a day-to-day basis (Bouwman, 2002). The strategy refers to a firm's choice of a particular business model and how it decides to compete in the marketplace (Ramon and Ricart, 2010). The tactics, as other supplements of the business model and the overall strategy, refer to the residual options or choices of a firm with regard to the overall strategy (Veit et al., 2013). In the current era of globalization and rapid technological revolution, the firm is likely to employ a two-stage competitive framework in the realization of better operational capabilities in the maximization of stakeholder value and returns. In the first stage, firms choose a model of value creation and capture (Amit and Zott, 2001). This model concentrates exclusively on driving value to consumers through the products or services it creates (Veit et al., 2013). In the second stage, firms are likely to use tactical changes that are guided exclusively by their goals, both short and

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