The business model has evolved as an important concept in strategic management. While recent years have seen substantial progress in the business model's conceptual development, empirical progress remains limited. I argue that this limited progress might be due to a mismatch between the business model's characteristics and the methods applied to study it. This essay introduces two methods-qualitative comparative analysis and system dynamics simulation-that share key characteristics with the business model concept. The essay introduces these methods and discusses five directions for applying them in business model research. In doing so, I hope to contribute to a stronger harmonization of conceptual and empirical business model research.
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