Business model evolution and firm performance of entrepreneurial companies

This research explores the business model (BM) evolution process of entrepreneurial companies and investigates the relationship between BM evolution and firm performance. Recently, it has been increasingly recognised that the innovative design (and re-design) of BMs is crucial to the performance of entrepreneurial firms, as BM can be associated with superior value creation and competitive advantage. However, there has been limited theoretical and empirical evidence in relation to the micro-mechanisms behind the BM evolution process and the entrepreneurial outcomes of BM evolution. This research seeks to fill this gap by opening up the ‘black box’ of the BM evolution process, exploring the micro-patterns that facilitate the continuous shaping, changing, and renewing of BMs and examining how BM evolutions create and capture value in a dynamic manner. Drawing together the BM and strategic entrepreneurship literature, this research seeks to understand: (1) how and why companies introduce BM innovations and imitations; (2) how BM innovations and imitations interplay as patterns in the BM evolution process; and (3) how BM evolution patterns affect firm performances. This research adopts a longitudinal multiple case study design that focuses on the emerging phenomenon of BM evolution. Twelve entrepreneurial firms in the Chinese Online Group Buying (OGB) industry were selected for their continuous and intensive developments of BMs and their varying success rates in this highly competitive market. Two rounds of data collection were carried out between 2013 and 2014, which generates 31 interviews with founders/co-founders and in total 5,034 pages of data. Following a three-stage research framework, the data analysis begins by mapping the BM evolution process of the twelve companies and classifying the changes in the BMs into innovations and imitations. The second stage focuses down to the BM level, which addresses the BM evolution as a dynamic process by exploring how BM innovations and imitations unfold and interplay over time. The final stage focuses on the firm level, providing theoretical explanations as to the effects of BM evolution patterns on firm performance. This research provides new insights into the nature of BM evolution by elaborating on the missing link between BM dynamics and firm performance. The findings identify four patterns of BM evolution that have different effects on a firm’s short- and long-term performance. This research contributes to the BM literature by presenting what the BM evolution process actually looks like. Moreover, it takes a step towards the process theory of the interplay between BM innovations and imitations, which addresses the role of companies’ actions, and more importantly, reactions to the competitors. Insights are also given into how entrepreneurial companies achieve and sustain value creation and capture by successfully combining the BM evolution patterns. Finally, the findings on BM evolution contributes to the strategic entrepreneurship literature by increasing the understanding of how companies compete in a more dynamic and complex environment. It reveals that, the achievement of superior firm performance is more than a simple question of whether to innovate or imitate, but rather an integration of innovation and imitation strategies over time. This study concludes with a discussion of the findings and their implications for theory and practice.

‘Mo Rùn am Fearann’ – ‘My Love is the Land’: Gaelic landscapes of the 18th and 19th centuries

The period of the 18th and 19th centuries was one of great change in the Highlands and Islands of Scotland. Improvement, the Jacobite Rebellions, and the Clearances transformed its communities and landscapes. These events have rightly been a focus of research. However, archaeological approaches have often sought simply to illustrate these processes, rather than create new narratives about life in the past. The resulting picture of the period can over-emphasise economic change whilst failing to reflect the richness and variety of everyday life. This thesis aims to suggest a new approach to the place and period, one which addresses matters often ignored in previous work. Whilst it has an archaeological sensibility, it draws on ideas from outside archaeology, such as landscape theory and on Gaelic oral tradition, an underused resource, to create a novel and broad-based approach to the period. An important part of the method is a synchronic approach that seeks to reconstruct the experience of the landscape at very particular times, engaging fully with the everyday experience of landscape rather than grand historical narratives. Two Hebridean case studies are utilised: Hiort (St Kilda) and Loch Aoineart, South Uist. Thematic discussions drawn from these landscapes are intended as critical assessments of the efficacy of the approach, as well as new narratives about life in the past in themselves. The thesis concludes by comparing the two case studies, reflecting on the merits of the approach, discussing recurrent themes in the work, and considering its wider context and implications. It is concluded that taking a novel approach to the case study landscapes can create narratives that often contrast or expand upon those produced by previous scholars, allow for a more detailed consideration of everyday life in the period, and open up new areas for archaeological enquiry. The extensive and critical use of evidence from Gaelic oral tradition is highlighted as crucial in understanding life and society in the period. The thesis questions the utility of grand historical narratives as a framework for archaeological study of post-medieval Gaeldom and suggests that our understanding of the past is best served by approaching the evidence in ways which allows for many different voices and stories from the past to emerge.