Maybe the 1st thing that catches attention is that researchers are behind the times relative to practictioners. The term 'business model' and its variants had been used by businesspeople well before it appeared in the academic journals.

That's fine, I think.

If researchers are describing and making order of the world we observe, then it has to be out there, in the wild, before it can be observed.

What matters, next, is if the research is conducted in a way that is valid and that it adds value to practitioners.

I particularly like the work of Zott and Amit, who have been putting real meat on the theory - and have been integrating varous strands of theory to create a new area of analysis.