The digital revolution is fundamentally reshaping the business landscape by generating abundant new opportunities and novel business models. As a new source of value creation, a start‐up’s business model is critical for its survival and growth. How, then, should a digital start‐up design its business model? The present study departs from existing viewpoints on the topic and proposes a strategic orientation view. By integrating the resource‐based view and the demand‐side perspective, we examine the impact of strategic orientation in business model design on the performance of start‐ups in the digital economy. Using a data set of digital start‐ups, our empirical results show that both technology and consumer orientations are beneficial to the performance of start‐ups. However, it would be counterproductive for a digital start‐up to seek a balance between both strategic orientations in business model design. Furthermore, the positive relationship between consumer orientation and firm performance becomes more prominent in a highly open technological environment, but is weakened in environments characterized by high user interactivity. This study advances business model design research by proposing a strategic orientation view, and contributes to business model theory building by offering an integrated view that embraces the resource‐based view and the demand‐side perspective.

中文翻译：

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技术推动还是市场拉动？业务模型设计和数字化启动绩效的战略定位*

数字革命通过产生大量新机遇和新颖商业模式从根本上重塑了商业格局。作为价值创造的新来源，初创企业的业务模型对其生存和增长至关重要。那么，数字初创企业应如何设计其业务模型？本研究从该主题的现有观点出发，提出了战略方向的观点。通过整合基于资源的视图和需求侧的观点，我们研究了业务模型设计中战略导向对数字经济中初创企业绩效的影响。使用数字化初创企业的数据集，我们的经验结果表明，技术和面向消费者的方面都对初创企业的绩效有利。然而，数字初创企业在业务模型设计的两个战略方向之间寻求平衡会适得其反。此外，在高度开放的技术环境中，以消费者为导向与公司绩效之间的正向关系变得更加突出，但在以高用户交互性为特征的环境中，这种关系被削弱。本研究通过提出战略方向视图来推进业务模型设计研究，并通过提供包含基于资源的视图和需求侧的观点的集成视图来为业务模型理论构建做出贡献。但在以用户高交互性为特征的环境中会减弱。这项研究通过提出战略方向视图来推进业务模型设计研究，并通过提供包含基于资源的视图和需求侧的观点的集成视图来为业务模型理论构建做出贡献。但在以用户高交互性为特征的环境中会减弱。本研究通过提出战略方向视图来推进业务模型设计研究，并通过提供包含基于资源的视图和需求侧的观点的集成视图来为业务模型理论构建做出贡献。