Developing a construction business model transformation canvas

Priyadarshini Das, Srinath Perera, Sepani Senaratne, Robert Osei-Kyei

Research output: Contribution to journalArticleResearchpeer-review

22 Citations (Scopus)

Abstract

Purpose: Industry 4.0 is driving an incremental shift in paradigms for the construction industry. Current research in the built environment is limited to exploring the exponential technological prowess of Industry 4.0 with very little work on its implications to the construction business model, strategy and competitive advantage. There arises a challenge for researchers to understand how appropriate technologies can be assembled to assist in achieving the goals of construction businesses. The overarching aim of this research is to develop a construction Business Model Transformation Canvas (BMTC) to map the transformation of construction enterprises in Industry 4.0. Design/methodology/approach: The research was carried out by conducting an expert forum with academics from nine universities across Australia and New Zealand. The study employed purposive sampling, and the academics were selected in a strategic manner in order to provide data that are relevant to the research. Findings: The research identifies that technology-based partnerships supporting strategy and capability building, platforms enabling enterprises to conceive, design, manufacture and assemble buildings and competition with stakeholders having superior capabilities not in building but in other areas of business are fundamental to Industry 4.0 transformation. Originality/value: The results present state-of-the-art development of business model research in construction that intends to support the strategic planning of construction enterprises in Industry 4.0. This research is the first and only research that uses a business model canvas (BMC) for strategy-reformulation in incumbent construction enterprises to maintain a competitive advantage in Industry 4.0. Merits of the construction BMTC lie in its holistic approach, visual representation and simplicity.

Original languageEnglish
Pages (from-to)1423-1439
Number of pages17
JournalEngineering, Construction and Architectural Management
Volume28
Issue number5
DOIs
Publication statusPublished - 10 Jun 2021
Externally publishedYes

Keywords

  • Business model canvas
  • Construction business model transformation
  • Expert forum
  • Industry 4.0
  • Modern construction
  • Offsite construction
  • Smart construction

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