Shaping Business Models Through Interaction: A Sensemaking and Sensegiving Approach

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Author(s): Ann Højbjerg Clarke (University of Southern Denmark, Denmark)and Per Vagn Freytag (University of Southern Denmark, Denmark)
Copyright: 2023
Pages: 21
Source title: Handbook of Research on Business Model Innovation Through Disruption and Digitalization
Source Author(s)/Editor(s): Erik Stavnsager Rasmussen (University of Southern Denmark, Denmark)and Nicolaj Hannesbo Petersen (UCL University College, Denmark)
DOI: 10.4018/978-1-6684-4895-3.ch001

Keywords: Business & Management / Business and Organizational Research / Business Science Reference / Entrepreneurship & Innovation

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Abstract

This chapter aims to understand how actors create meanings about a firm's business model through sensemaking processes. Actors hold different understandings of a firm's business model and infer different meanings. Business models result from the sensemaking and sensegiving processes that occur and evolve between actors. Business models make the action meaningful and frame the actions of the actors. This chapter builds on a single case study and presents essential characteristics of business model change and managers' sensemaking and sensegiving processes when shaping a business model. The chapter provides insights into how managers make sense of and reshape business models through interaction.

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Shaping Business Models Through Interaction: A Sensemaking and Sensegiving Approach

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