Author(s): Kitsada Dolpanya, Barbara Igel
Purpose: This study aims to explore the transformation of the value-based business model from an old-fashioned to a modern business model in the Thai boxing business by categorizing the value-based business model components into four distinct types: value creation, value proposition, value delivery, and value capture.
Design/Methodology/Approach: This study employs case study research to investigate the transformation of value-based business models across multiple cases in the Thai boxing business. Using the business model as the unit of analysis enables the extension of the logic of executing and transforming a business model and offers a novel viewpoint for comprehending the Thai boxing business.
Finding: This study illustrates a magnitude of value-based business model transformation to classify the results into the sets of case classification and a magnitude of transformation of each case. In addition, Thai boxing businesses are inexperienced with how to capture the value of products/services from targeted customers through communication that focuses on the value delivery component. The findings also suggest that the national sport identity of Thai boxing significantly contributes to the value proposition of the Thai boxing business.
Research Implication: The study contributes to business model research, sports culture, and the national sport identity by empirically investigating on what and how values-based business model have been transformed from an old-fashioned to a modern business model in the Thai boxing business through the lens of business model archetypes four distinct value-based business model components through multiple case studies.
Practical Implications: Aggregating four elements of a value-based business model is crucial to a company's continued existence. Value capture is needed to be a focus for business survival in the Thai boxing business.
Originality/Value: The study introduces a novel aspect; no case study exists in the literature that examines the value-based business model transformation, which categorizes the transformational components of the value-based business model into four distinct components: value creation, value proposition, value delivery, and value capture. Furthermore, this study proposes the national sport identity as one of the elements embedded in the value proposition of Thai boxing that has not previously been studied.