Preface: Introduction to Special Section - Business Models

At first glance, there seems to be a broad understanding regarding business models. However, a more thorough analysis of existing resources paints a different picture. The term ‘business model’ often remains undefined and a consensus on the elements of business models is lacking. An analysis of various sources, such as electronic databases, conference proceedings, and EM – Electronic Markets itself supports this statement. Nevertheless, business models are largely believed to determine the success of an electronic venture. To establish some structure and to identify the critical components of business models, the existing definitions and approaches were analysed and led to a model, which differentiates six business model elements. This model is also used to position the articles submitted to this special issue of EM – Electronic Markets.