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Business Models and Value Creation
A CASE STUDY OF THE NEW YORK CITY ECONOMIC DEVELOPMENT CORPORATION

Author: Supervisor:

Eric Chambers Manuel Patrocínio Mattias Jacobsson

Umeå School of Business Autumn 2011 Master thesis, one-year, 15hp

BUSINESS MODELS AND VALUE CREATION
A CASE STUDY OF THE NEW YORK CITY ECONOMIC DEVELOPMENT CORPORATION

Eric Chambers Manuel Patrocínio

Thesis for the Degree of Master of Science, MSc | Magister Examen I Management Umeå School of Business 2011 Master of Science in Strategic Project Management (European) – MSPME Erasmus Mundus MSPME Cohort 2012 European Commission | Education, Audiovisual & Culture Executive Agency

New York City Economic Development Corporation Center for Economic Transformation 110 William Street New York, NY 10038 United States of America

Keywords: Business models Value creation Strategic management Economic development Public administration

Distributed by: Umeå University | Umeå School of Business Department of Management (Section) SE-901 87 Umeå Sweden http://www.usbe.umu.se

To global minds striving to build bridges between leading governments of present and promising nations of the future
Eric Chambers

To those that have been reflecting, thank you for sharing the understanding
Manuel Patrocínio

“The purpose of a business is to create a customer”
Peter Ferdinand Drucker, 1909-2005

ABSTRACT
Since its establishment as an emerging area of research in strategic management over a decade ago, business model research has had little consensus towards adopting a single definition or common language for this rapidly growing management concept. However, strong agreement as to the relevance of value creation within organizations underlies existing business model literature. Moreover, applications of business model frameworks outside the private sector have been limited. Recent literature has identified business model innovation and design as a critical tool in effective...

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