Tradition-Driven Business Model, Value Creation and Value Capture in High-End Hotels
Tradition-Driven Business Model, Value Creation and Value Capture in High-End Hotels
Stefano Franco, Angelo Presenza, Antonio Messeni Petruzzelli, Enzo PeruffoThe aim of this ongoing research is to shed new light on BM, a theoretical concept and methodological approach (Osterwalder, Pigneur, & Tucci, 2005) that, even if has received large attention in management literature, in tourism and hospitality literature is still in its infancy (Reinhold, Zach, & Krizaj, 2017). BM is the set of activities a firm performs (Afuah & Tucci, 2001; Zott & Amit, 2010). It defines the way in which the firm creates value for customers and captures such value converting it into profits (Teece, 2010; Zott, Amit, & Massa, 2011) through the effective commercialization of a business idea (Chesbrough, 2010). BM serves as a plan through which a company realizes its operational and strategic structure (Foss & Saebi, 2017). This factor is particularly relevant in dynamic contexts, such as the case of the tourism industry characterized by changing tourist behaviors and economic conditions, as well as by technological progress (Reinhold et al., 2017; Vatankhah, Zarra-Nezhad, & Amirnejad, 2019).
#business model #high-end hotels #tradition #value capture #value creation