Outstanding Papers Series
Business model ZEN: The new business modeling methodology with a balanced view of customer focus, strategic thinking and loop learning
The term ‘business model’ has received recently substantial attention from both academics and business practitioners. This study was conducted to suggest a new business model method, Business Model ZEN, which consolidates the business concept, plan and execution into a single canvas, thus restoring organic links among these phases. We suggest design disciplines and overall framework and present how to create Business Model ZEN canvas and show real business modeling cases using it. Furthermore, we suggest how to diagnose systematically each business model. Business Model ZEN provides a single logical framework where a business is systematically modeled and proactively managed, from idea to design and execution. Many workshops and business coaching were successfully implemented with this frameworks already and it is regarded as a good companion to mindset and toolset for making business innovation happen. This framework’s goal is to assist people doing things right with right things. People can achieve this goal with multi-dimensional relation-driven approach of this framework compared to process driven ones of others.
Yongho Cho & Jinho Choi , Korea
This study was found outstanding because of its unique contribution to business model development and providing an effective synthesis of the relevant literature.