A Business Model Ontology for Construction Contractors
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Supervisor: Prof. B.A.K.S. Perera, Dr.Chandanie Hadiwattage Department: Building Economics Faculty: Architecture A Business Model (BM) is fundamental to success of any business, supporting high-quality business decisions. Today’s hostile business environment makes construction companies vulnerable to business failures requiring adopting proper BMs. However, it is still novel to the construction industry, with negligible ontologies to support contractors in designing BMs. |
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Thus, this study aimed to propose a developed and validated Construction Business Model ontology (CBMO) to facilitate contractors designing BMs. This was a multi-method qualitative study positioned on pragmatism and followed abductive approach. First, Construction Business Model (CBM) was defined and validated for its compatibility and comprehensibility. Then, the CBMO was developed, establishing relationships of identified CBMO elements. CBMO step-by-step guide with guiding questions helps contractors design their CBMs. CBMO shows the whole picture of a business, avoiding missing parts while enabling handling stakeholders, using processes, handling risks, choosing strategies, utilising resources, seeking opportunities and promoting value-based competition.
Abstract An Initiative by MoraMinds Follow us on Twitter @uomresearcher
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