How should a Start-up Design Its Business Model under the VUCA World: Based on the Perspective of Sensemaking

Abstract

Abstract: The extra uncertainty brought by the VUCA era has a profound impact on the business model design of start-ups. Based on the perspective of sensemaking theory, this paper uses exploratory case study to build a theoretic model of “environment - sensemaking - business model design”, and reveals the process mechanism of how start-ups extract effective information from the changing environment to design and establish their business model. It is found that the change of environment provides important “raw materials” for the sensemaking of the business model design of start-ups. Business models are designed through four types of sensemaking paths, namely, actiondriven, issue-driven, demander-driven and belief-driven. The key factors which influences path choice are environmental change, stage of enterprise development and attention allocation of entrepreneurs.

Key words: VUCA, start-ups, business model design, sensemaking, path choice

Jia Junyun, Chen Hansong. How should a Start-up Design Its Business Model under the VUCA World: Based on the Perspective of Sensemaking[J]. Management Review, 2022, 34(10): 328-340.

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