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Developing a construction business model transformation canvas

Author(s):



Medium: journal article
Language(s): English
Published in: Engineering, Construction and Architectural Management, , n. 5, v. 28
Page(s): 1423-1439
DOI: 10.1108/ecam-09-2020-0712
Abstract:

Purpose

Industry 4.0 is driving an incremental shift in paradigms for the construction industry. Current research in the built environment is limited to exploring the exponential technological prowess of Industry 4.0 with very little work on its implications to the construction business model, strategy and competitive advantage. There arises a challenge for researchers to understand how appropriate technologies can be assembled to assist in achieving the goals of construction businesses. The overarching aim of this research is to develop a construction Business Model Transformation Canvas (BMTC) to map the transformation of construction enterprises in Industry 4.0.

Design/methodology/approach

The research was carried out by conducting an expert forum with academics from nine universities across Australia and New Zealand. The study employed purposive sampling, and the academics were selected in a strategic manner in order to provide data that are relevant to the research.

Findings

The research identifies that technology-based partnerships supporting strategy and capability building, platforms enabling enterprises to conceive, design, manufacture and assemble buildings and competition with stakeholders having superior capabilities not in building but in other areas of business are fundamental to Industry 4.0 transformation.

Originality/value

The results present state-of-the-art development of business model research in construction that intends to support the strategic planning of construction enterprises in Industry 4.0. This research is the first and only research that uses a business model canvas (BMC) for strategy-reformulation in incumbent construction enterprises to maintain a competitive advantage in Industry 4.0. Merits of the construction BMTC lie in its holistic approach, visual representation and simplicity.

Structurae cannot make the full text of this publication available at this time. The full text can be accessed through the publisher via the DOI: 10.1108/ecam-09-2020-0712.
  • About this
    data sheet
  • Reference-ID
    10577094
  • Published on:
    26/02/2021
  • Last updated on:
    02/09/2021
 
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