Case studies are an indispensable part of exploratory research. Before setting out on a new business strategy, people in decision-making positions need to collect enough data that would inform their actions. Case studies describe both successful and unsuccessful attempts of making something more or less similar to what one intends to do, therefore, providing underpinnings for one’s ideas or proving their futility. Case analysis is valuable for generating new ideas on top of what has already been tested. Besides, real-life cases can illustrate theories and display very nuanced situations that some theories might have been willingly or unwillingly dismissing.
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A business model can be defined as a plan for business operations. A model identifies products or services, the intended customer bases, potential source of revenues, and other details of financing (David, 2013). A business model can be disruptive if its novel and unprecedented nature sways the market and goes beyond customers’ expectations (Volberda, Van Den Bosch & Heij, 2018). In a way, it revolutionizes the entire industry and gives a business an edge over its contenders.
A prime example of a disruptive business model is Netflix. Even before the rise of the Internet era, Netflix was innovative in a way it was allowing customers to rent CDs and DVDs. Fast forward to the 2010s, Netflix became the largest streaming service in the world, transforming the way people see media consumption. Another example is Apple: it was the first company that turned a phone into a mini-computer, popularizing the touchscreen and mobile applications. By doing that, Apple outpaced its key competitor Nokia whose phones used to be absolute bestsellers in the 1990s and 2000s. Nokia was too reluctant to change while Apple changed the game forever and became the number one smartphone company in the world.
- David, F.R. (2013). Strategic management concepts: A competitive advantage approach. Pearson.
- Volberda, H., Van Den Bosch, F. A., & Heij, K. (2018). Reinventing business models: How firms cope with disruption. Oxford University Press.