Developing Augmented Reality Business Models for SMEs in Tourism

make_name_string expected hash reference, make_name_string expected hash reference ORCID: https://orcid.org/0000-0001-7754-6085 and make_name_string expected hash reference ORCID: https://orcid.org/0000-0002-8594-6641 (2021) Developing Augmented Reality Business Models for SMEs in Tourism. Information and Management, 58 (8). p. 103551. ISSN 0378-7206

Preview

Accepted Version Available under License Creative Commons Attribution Non-commercial No Derivatives. Download (598kB) | Preview

Abstract

Augmented reality (AR) is disrupting the business landscape. Small and medium-sized enterprises (SMEs) often face challenges capitalising on the potential presented by cutting-edge technologies, such as AR. Business models (BMs) are widely regarded as effective management tools, which help increase competitiveness. This paper aims to develop an augmented reality business model (ARBM), using a case study of a small UNESCO visitor attraction. A multimethod approach is used, including stakeholder analysis, in-depth interviews and analytic hierarchy process (AHP) modelling. The proposed ARBM consists of five themes: existing resources, AR value, stakeholder benefits, implementation and revenue generation, which are guided by the principles of sustainability, inclusivity, suitability, flexibility and transparency. The findings provide important insights into how SMEs can implement AR to exploit its potential.