Business Models as Managerial Mental Models

The business model can be viewed as a cognitive construct. This construct exists in the minds of managers, employees, and other actors involved with the organization. One challenge for those studying business models as cognitive constructs, is that scholars have thought up multiple competing theories (and associated terminologies) of what these structures are, how they develop, and how they are shared between individuals. Another is the multiple methods suggested for identifying and describing such structures. In this chapter I introduce some of these various theories and illustrate how these have been used in business model research. I discuss what mental business models are, how they emerge, and what they contain. I also provide some examples of methods that have been used for mappingmapping such models, and finally, provide clues as to opportunities for further research.