Assistant Professor Marin Jovanovic Wins the 2020 Thomas P. Hustad Best Paper Award
In the award-winning research paper “Value Creation and Value Capture Alignment in Business Model Innovation: A Process View on Outcome-Based Business Models”, Prof. David Sjödin, Prof. Vinit Parida, Dr. Ivanka Visnjic, and Dr. Marin Jovanovic explore business model innovation in the industrial manufacturing industry.
Examining industrial manufacturers who shift from selling products to selling outcome-based services, the researchers find that the effectiveness of business model innovation relies on provider-customer collaboration in three process phases: value proposition definition, value provision design, and value-in-use delivery. Building on existing literature, the paper suggests that the success of business model innovation hinges on continuous alignment of value creation and value capture activities.
The paper contributes to literature and industry practices by developing a process model that provides a thorough understanding of how value creation and value capture processes are ensured. The so-called Digital Servitization Cube can be used by manufactures to systematically map and categorize their product-service-software strategies.
“We are very proud that Marin Jovanovic has been awarded the JPIM Best Paper Award. The publication and award by JPIM demonstrate the capacity of our faculty and is an excellent example of how successful collaboration with other faculties leads to interesting research opportunities and results”
- Carsten Ørts Hansen, Head of the Department of Operations Management