Defining the Business Model in the New World of Digital Business
The Business Model (BM) concept has become one of the most important domains in the field of Information Systems (IS), thanks to recent rapid advances in Information and Communication Technologies (ICTs). Recent rapid advances in ICTs, specifically in Internet and mobile technologies, have highlighted the rising importance of the Business Model (BM) in Information Systems (IS). Despite agreement on its importance to an organization's success, the concept is still fuzzy and vague, and there is no consensus regarding its definition. Furthermore, understanding the BM domain by identifying its meaning, fundamental pillars, and its relevance to other business concepts is by no means complete.