I ² M ²— The Future of Industrial Internet Monetization
( BMILAB ) 3 , published by the BMILAB at the University of St . Gallen , Switzerland . The Business Model Navigator describes 55 business models by index and name — the oldest is from 1860 and the most recent from 2003 . Here are a few examples :
� Franchising (# 17 ) invented in 1860 by Singer Sewing Machine and famously copied by McDonalds and Subway .
� Razor and Blade (# 39 ) invented in 1880 by Standard Oil Company ( giving away oil lamps for free in China ) but receiving its name from the Gillette business model .
� Subscription (# 48 ) used since 1999 by companies such as Salesforce ® or Netflix ® to reach a steady income stream with recurring fees , typically on a monthly or annual basis .
New business models will continue to be invented and many will depend on technology which is not widely available today . SAP ® for example expanded the BMILAB list by seven additional models which are specific around IoT 4 . Examples are :
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Sensor as a Service (# 57 ) which describes revenue generated from an IoT sensor selling the measured information to other parties . Digitally Charged Products : Object Self Service (# 56e ) used by components to order independently on the internet , e . g . a heating system automatically reorders oil when necessary .
The list of business models at I ² M ² is not limited to the lists of BMILAB and SAP , but they represent a good start .
Figure 4 : Selection of a group of business models inside the I ² M ² for a specific Monetization Method
3
St . Gallen Business Model Navigator , BMILAB , a spin-off from the University of St . Gallen http :// www . bmilab . com
4
Sung Kwon Kang , SAP Business Transformation Services : Beyond Process Innovation – BMI ( Business Model Innovation ), SAP Forum July 2016 , Seoul , Korea http :// www . sapforum . co . kr / 2016 / seoul / edm / download / Track2 / 01 .% 20Business % 20Model % 20Innovation . pdf
IIC Journal of Innovation - 9 -