Developing Evaluation Frameworks for Business Models in China's Rural Markets
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In rural China, successful and sustainable business model design has been viewed as an important strategy to achieve a win-win scenario in which rural poverty can be alleviated and enterprise profit can be improved. Although business model related literature is strong, it lacks a comprehensive framework for appraising business models in rural markets. As a result, entrepreneurs are facing significant challenges in implementing their market development centered business models or resource development centered business models. This study draws on case analysis to present two frameworks for evaluating the two types of business models, respectively. Through open coding and axial coding on eight Chinese cases, we identify the main components for the evaluation frameworks and critical factors within each component. Using the coding results as a lens, we apply a cross-case comparative data analysis to establish the multi-level evaluation systems. Finally, we provide suggestions for entrepreneurs and other stakeholders to better their business model design in China's rural markets.