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Industry transformation towards service logic: A business model approachAnna Viljakainen, Marja Toivonen and Maiju Aikalaarticle tackles the issue of industrial transition into value- and service-based business, and offers a managerial tool on how customer value is turned into profitable business. It suggests a new business model construct based on…

The Challenge Shrinking budgets, rising costs and increasing competition has led to many companies making the shift to selling services. Companies in industries as diverse as aerospace and social care are now offering "payment by results" type services, rewarded only when they meet or exceed agreed performance criteria. This has led to the new fiel…