A Business Model for Transforming Nanotechnology to Nanobusinesses: The Chinese dualistic philosophy perspective

Nanotechnology has been recognized as an emerging technology driver critical for the competitive advantage of the firms in the near future. Many technological and market efforts have been done in practical world to explore the applications of nanotechnology in the existing or new businesses. New business model has become a critical concern for the business managers and entrepreneurs in dealing with the emerging technology. Owning to the increasing importance and the unique characteristics of nanotechnology, this paper draws on an extensive review of business model literature and Chinese dualistic philosophy to outline a nanobusiness model. The proposed nanobusiness model include two central parts (strategy and tactics), four components (strategic scanning, strategic positioning, knowledge management, and risk management) and eight elements (take multiple bets, regularly validate the commercial opportunity, "business targeting, value proposition, open innovation, core technologies platform, managing the customer's purchasing process, and harvesting the low hanging fruits. Theoretical and practical implications are discussed