Islam, S2019-02-192019-02-192019-01-272019-01-27Accounting and Finance, Forthcoming. doi: 10.1111/acfi.124590810-5391https://hdl.handle.net/10292/12267This study examines the managerial sensemaking process around business models. Drawing on fieldwork, this study introduces a model to describe how managerial sensemaking occurs around business model development and use. This study shows that managerial sensemaking around business models occurs through a mutually co-constituted process, a separate yet shared process, or a combination of them resulting from an interplay between sensemaking and sensegiving activities. To facilitate their sensemaking around business models, managers draw on several schemas. Over time, some schemas underlying business models remain unchanged, while others change in varying degrees.Copyright © 2019 John Wiley & Sons. All rights reserved. Authors retain the right to place his/her pre-publication version of the work on a personal website or institutional repository. This article may not exactly replicate the final version published in (please see citation) as it is not a copy of this record. An electronic version of this article can be found online at: (Please see Publisher’s Version).Business models; Sensemaking processes; Sensegiving; Schemas; CognitionJournal ArticleOpenAccess10.1111/acfi.12459