This book focuses on business models within turbulent environments. It aims at highlighting the determinants of firm value creation in both the biotech and semiconductor sectors. By adopting an interpretivism perspective, the analysis explores the business models through the use of open-ended questions, without any conditioning from hypotheses formulated prior to collecting data.
Moreover, following case-based research procedure, the study compares the emergent theory with the extant literature in order to highlight similarities and contradictions. Comparing the findings with previous papers, the book discusses: (i) the concept of the business model as unit of analysis in the management field; (ii) the usefulness of linking frameworks to explain the value creation process; (iii) top management's role in the learning process; and (iv) the relationships between the different categories of knowledge-based change and the firm's risk profile.

Biagio Ciao is assistant professor at the University of Milan-Bicocca. He received his Ph.D. from the University of Pisa. His research area is strategic management. The author has written papers on strategic control systems, dynamic capabilities, managerial cognition and research methods for management studies. He teaches Business Administration at the Faculty of Economics and the Faculty of Mathematics, Physics and Natural Sciences. Biagio Ciao was an Erasmus Teacher at Paris- Dauphine University in 2010.