scholarly journals MARKETING SUBSTANTIATION, ORGANIZATIONAL AND ECONOMIC CHARACTERISTICS OF SMALL BUSINESS IN THE PROVISION OF HOTEL SERVICES

2021 ◽  
Vol 4 (39) ◽  
pp. 439-450
Author(s):  
S. Pambuk ◽  
I. Ustenko ◽  
M. Mardar
Keyword(s):  
Small Business ◽  
Strategic Management ◽  
Business Model ◽  
Financial Reporting ◽  
Small Businesses ◽  
Business Models ◽  
Methodological Approach ◽  
Business Plan ◽  
Local Market ◽  
Regional Market

Abstract. The article proposes a business model for the development of small business in the regional market of services in Ukraine on a generalized methodological approach; the main aspects and parameters of development of hotel services are revealed. The main purpose of the research is to develop a methodological approach to marketing substantiation, organizational and economic characteristics and management of a small business to provide hotel services on the example of a hostel. Systematization of literature sources and approaches to solving the problem of using strategic management for local small businesses indicates the need to develop a universal business model for the development of hospitality services, taking into account the characteristics of the regional market and other important factors. After all, thanks to a well-chosen for a specific time and a specific market environment, the business models of the company achieve a stable competitive advantage. The rapidity of market changes in the economy of Ukraine and the spread of entrepreneurship actualize the creation of effective algorithms and methods of approach to marketing justification and strategic management of small businesses. The object of research is the business model of future business in terms of implementing a business idea for the local market. The research was carried out using modern general scientific and special methods: business idea map, PEST-analysis, Osterwalder’s business model, determination of business value by cost, income and market approaches, sensitivity analysis to determine the degree of business risk. The information base of research consisted of statistical and organizational, financial reporting of small businesses for the provision of hotel services. As a result of the research, an algorithm for opening and analyzing the work of small businesses to provide hotel services on the example of a hostel was developed. The methodical approach consists of stages: development of a map of a commercial idea; analysis of a potential commercial idea and problems that can be solved in the case of implementation of this commercial idea; consolidated PEST analysis; description of the model of consumer service behavior of hotel services; analysis of project business competitors; drafting a practical philosophy of small business; drawing up a business model of a small project enterprise; resource substantiation; project risk assessment. The proposed methodological approach can be applied to develop a business plan for small business opening a hostel for the development of the regional market of services. Keywords: business plan, marketing plan, card of the business idea, degree of risk of business, hostel, outline of Osterwalder’s business model, PEST analysis. JEL Classification M31, М21, R15, R30 Formulas: 0; fig.: 1; tabl.: 6; bibl.: 23.

Business Model Literature Overview

2014 ◽  
pp. 79-130 ◽  
Author(s):  
Ales Novak
Keyword(s):  
Business Model ◽  
Financial Reporting ◽  
Business Models ◽  
Potential Role ◽  
Financial Instruments ◽  
Business Logic ◽  
Literature Overview ◽  
Ifrs 9 ◽  
Definition Of

The term ?business model' has recently attracted increased attention in the context of financial reporting and was formally introduced into the IFRS literature when IFRS 9 Financial Instruments was published in November 2009. However, IFRS 9 did not fully define the term ‘business model'. Furthermore, the literature on business models is quite diverse. It has been conducted in largely isolated fashion; therefore, no generally accepted definition of ?business model' has emerged. Therefore, a better understanding of the notion itself should be developed before further investigating its potential role within financial reporting. The aim of this paper is to highlight some of the perceived key themes and to identify other bases for grouping/organizing the literature based on business models. The contributions this paper makes to the literature are twofold: first, it complements previous review papers on business models; second, it contains a clear position on the distinction between the notions of the business model and strategy, which many authors identify as a key element in better explaining and communicating the notion of the business model. In this author's opinion, the term ‘strategy' is a dynamic and forward-looking notion, a sort of directional roadmap for future courses of action, whereas, ‘business model' is a more static notion, reflecting the conceptualisation of the company's underlying core business logic. The conclusion contains the author's thoughts on the role of the business model in financial reporting.

FEATURES OF THE RUSSIAN SMALL BUSINESS MODEL AND THE CONSEQUENCES OF THE COVID-19 PANDEMIC

2021 ◽  
pp. 71-85
Author(s):  
Natal’ya E. Egorova ◽  
Keyword(s):  
Small Business ◽  
Business Model ◽  
Small Businesses ◽  
Structural Characteristics ◽  
Bank Lending ◽  
Structural Instability ◽  
Government Support ◽  
Negative Consequences ◽  
Development Levels ◽  
The Impact

The article analyzes the quantitative and structural stability of Russian small business and identifies the model features of its functioning. It investigates the dynamics of development of Russian small business is investigated and notes a downward trend in the number of small and medium-sized enterprises over the past two years. A conclusion is drawn that the quantitative indicators reflecting its functioning are highly sensitive to the negative effects of the macroeconomic environment. The author introduces a concept of the small business heterogeneity and brings up its structural characteristics, represented by various categories of small and medium-sized firms. Comparative analysis of the Russian small business model with foreign small business confirms its quantitative and structural instability. That makes the considered sector of the national economy vulnerable to shocks (externalities), including the COVID-19 pandemic. It is assumed that the negative consequences of the pandemic will affect Russian small businesses more than foreign ones, and the gap in their development levels will widen. An assessment of the impact of the COVID-19 pandemic on Russian small business and a forecast of its development are made in the context of limited government support and the absence of active bank lending.

The Ontology of the OSS Business Model

2013 ◽  
pp. 40-58
Author(s):  
Spyridoula Lakka ◽  
Teta Stamati ◽  
Christos Michalakelis ◽  
Dracoulis Martakos
Keyword(s):  
Conceptual Framework ◽  
Business Model ◽  
Value Chain ◽  
Exploratory Study ◽  
Business Models ◽  
Methodological Approach ◽  
Theory Building ◽  
Revenue Model ◽  
Software Business

This study focuses on theory building providing a holistic conceptual framework that consists of an ontology based OSS business model and an OSS business model taxonomy. The study extends existing theory in OSS business models and corresponding taxonomies, based on the structured-case methodological approach. An exploratory study is conducted in two research cycles, for the identification, validation, and evaluation of the critical constructs of an OSS business model. Results reveal that OSS business models differ from traditional software business models, having specific features that affect the software value chain, the infrastructure, and the revenue model of an OSS oriented firm.

Becoming Strategic in Small Businesses

2014 ◽  
pp. 160-179
Author(s):  
Colleen E. Mills
Keyword(s):  
New Zealand ◽  
Small Business ◽  
Strategic Management ◽  
Small Businesses ◽  
Strategic Intent ◽  
Business Startup ◽  
Relational Process

While strategy has been described as a plan or pattern of actions aligned to a conscious intent, it can also be conceptualised as the deliberate activities those in business engage in to realise a strategic intent. It is this activity oriented conception of strategy that is fuelling the turn towards practice in strategy scholarship. This chapter draws on this perspective and the ‘communication as constitutive of organisations' (CCO) perspective to explore what is involved in becoming strategic in an active and experiential sense in a small business. To do this, it uses illustrations from a series of studies of business startup or restart from the creative, ICT, and construction industries in New Zealand. The empirically-based synthesis presents strategic management in small businesses as a relational process producing a narrative infrastructure that weaves together episodes of strategy praxis to produce a coherent thread that ‘tells the firm forward' (See Deuten & Rip, 2000). The chapter finishes by briefly exploring the implications of this view for those seeking to become more strategic in small businesses.

scholarly journals Business Model Building and Its Performance in Micro and Small Apparel Industry in Bandung City, Indonesia

2018 ◽  
Vol 7 (3.25) ◽  
pp. 106
Author(s):  
Sudrajati Ratnaningtyas ◽  
Wawan Dhewanto ◽  
Bambang Rudito ◽  
Eko Agus Prasetio ◽  
Gina Gina Karunia Kusumah
Keyword(s):  
Small Business ◽  
Business Model ◽  
Small Businesses ◽  
Business Strategy ◽  
Model Building ◽  
Apparel Industry ◽  
Building Blocks ◽  
Survey Method ◽  
Revenue Streams ◽  
The Impact

This study aims to determine whether or not the impact of business size on business model building and business performance perceived owner. This research used a quantitative-qualitative approach with Survey Method. The study was conducted in Apparel industry in Bandung City in 2017. The business model used to evaluate is Business Model Canvas (BMC). Chi-Square and Mann-Whitney U tests were used to test the differences between micro business and small business on each of BMC building blocks. The results showed that BMC building blocks between Micro Business and Small Buisness differed on two blocks, ie Channels and Revenue Streams, while the other seven blocks were not different significantly. It can be interpreted that the business model on Micro Businesses is generally slightly different with Small Businesses, or in other words the business strategy is relatively the same. However, the Business Model applied to Small Business with excellence in marketing channels and revenue streams compared to Micro Business, has resulted in a higher level of owner satisfaction on the performance of its business.  

scholarly journals DEVELOPMENT OF BUSINESS PLANNING IN THE FIELD OF FINANCIAL AND CREDIT SUPPORT FOR SMALL BUSINESS

2020 ◽  
pp. 140-148
Author(s):  
Sergiy Sergiychuk ◽  
Olena Ishchenko ◽  
Iryna Dubynska
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Financial Risk ◽  
Main Tool ◽  
Business Plan ◽  
Individual Investors ◽  
Business Planning ◽  
Money Markets ◽  
New Business ◽  
Theoretical Generalization

Introduction. Real difficulties with financing are today one of the main problems for small business in Ukraine. Lack of sufficient capital in the majority of the population, complexity, disadvantage or inability to obtain borrowed funds hinder the development of small business. Dependence on domestic sources of funding, the problem of lack of financial resources, difficult access to financial and money markets, high levels of financial risk, limited material resources and capacity, low output - all indicate that small business needs real financial support from the state, commercial banks, venture firms and individual investors. The purpose of the article is to study and identify ways to implement business planning in the field of financial and credit support for small businesses. Method (methodology). The general scientific methods, in particular theoretical generalization - for generalization of types of the initial capital and features of financing and business planning of the enterprise idea are applied in the researched; systematic economic analysis - to justify the types of financing and the required level of business planning, which must have a future entrepreneur. Results. The prepared business plan helps start-up entrepreneurs at every stage of starting and managing their business. It can be used as a roadmap for structuring, running and developing your own business. This is a way to think about the key elements of a new business. A business plan helps to obtain financing or attract new business partners. Investors want to be sure that they will return their investment. This is the main tool of an entrepreneur to convince people to work together and invest in the development of a promising company.

scholarly journals PERSONNEL TRAINING AS AN EFFECTIVE TOOL OF ORGANIZATIONAL DEVELOPMENT

2021 ◽  
Author(s):  
Оlena Linkova
Keyword(s):  
Strategic Management ◽  
Organizational Development ◽  
Business Model ◽  
Business Models ◽  
New Technologies ◽  
Innovation Management ◽  
Learning System ◽  
Market Demand ◽  
Operational Activities ◽  
Market Changes

The article examines the importance of organizational development to ensure competitiveness: increasing the ability of the organization to adapt to changing environmental conditions; updating the management system, organizational structure and culture; setting current goals, introduction of new technologies and methods of work in operational activities and management; creation of new structural units of the organization. Adaptation of domestic business to the rapid pace of market changes requires effective systematic implementation of a set of actions on strategic management based on business models, innovation management and marketing communications. Emphasis is placed on the main goal of development – to accelerate the process of adaptation to market changes. A balanced model of organizational development based on the education system is proposed, which includes: research of market demand and consumer values; consolidation of the business model in strategic management; audit of human resources; formation of a system of training according to the project of skills; introduction of a structural component of change management based on strategic leadership. The basis of organizational development is: ranking of staff values; introduction of systematic training; formation of a microclimate of mutual assistance in teams; timely informing staff about changes in market factors that will affect the implementation of organizational change; increased material support at the level of strategic management of individual work of operational level managers. The risks of using a balanced learning system within the selected business model are: increasing the ambitions of staff with the development of skills and changing life priorities; the difficulty of directly assessing the effectiveness of learning outcomes; preparation of educational personality-oriented programs. Measures to minimize the risks of implementing a balanced learning system are: teamwork; formation of a structural subdivision of coaches; concluding long-term agreements for certain training programs; motivation systems.

scholarly journals ECONOMIC ASPECTS OF THE DEVELOPMENT OF INSURANCE ACTIVITY OF SMALL BUSINESSES

2019 ◽  
Vol 5 (4) ◽  
pp. 197
Author(s):  
Larysa Poliatykina ◽  
Iryna Samoshkina ◽  
Olena Slavkova
Keyword(s):  
Small Business ◽  
Eastern Europe ◽  
Natural Disaster ◽  
Small Businesses ◽  
Global Economy ◽  
Traffic Accidents ◽  
Methodological Approach ◽  
Workflow Management ◽  
Third Party ◽  
Economic Aspects

The goal of the article is to summarize and highlight the main economic aspects of the development of insurance activities of small businesses in the countries of Eastern Europe. The small business performs a number of important economic and social tasks. The main arguments in favour of the features of the organization and operation of insurance activities of small businesses are considered. The purpose of the research. The purpose of this scientific research is to develop a methodological approach to the organization of insurance activities in small business and make proposals on the ways of their improvement. Insurance provides reliable protection of property interests of entrepreneurs and the population in case of losses caused by fire, natural disaster, technogenic accidents, traffic accidents, and many other unforeseen circumstances. Problem statement. In the economy of countries of Eastern Europe, there are a number of features of small business development. Entrepreneurship contributes to the expansion of the sector of employment, the creation of new employment opportunities for the unemployed population, and the dismissal of employees from enterprises, which operate inefficiently. Insurance provides reliable protection of property interests of entrepreneurs and the population in case of losses caused by fire, natural disaster, technogenic accidents, traffic accidents, and many other unforeseen circumstances. Insurance has proved itself as a form of accumulation of funds of citizens to solve their social problems (health, pensions, education, etc.). In recent years, insurance is widely used in the event of third-party liability. The issue on the problems of the organization of insurance activities of small businesses has been and is studied in detail in periodicals and special literature. Methodology. The analysis of the operation of small business and the features of its conduct was made during the study. The issues of the formation and operation of small business, as well as workflow management and business administration at these enterprises, are controversial. As a result of the research, the regulatory framework of the operation of insurance enterprises in the sphere of small business has been analysed. The article focuses on the main arguments in favour of the features of the organization and operation of insurance activities of small businesses. There is a need for the intensification of insurance activities. Practical implications. The study of scientific works and the practice of economic activity indicate that some of the theoretical provisions regarding the interpretation of the features of the organization and operation of insurance activities of small businesses are of a polemical character, and a number of important aspects of their organization, evaluation, and the methods of organization should be improved. Value/originality. The main directions of the insurance activity of small businesses in the global economy have been studied. The ways and directions of activation of insurance activities are offered. The strategy of the development of small and medium-sized businesses in the insurance sector in Ukraine is proposed. The strategy is aimed at ensuring the gradual development of insurance activities of small businesses, given the temporarily limited financial support and significant challenges in the economy of Eastern European countries.

scholarly journals The Best of Both Worlds - How Māori Small Businesses Engage with Their Pākehā and Māori Values

2021 ◽  
Author(s):  
◽  
Philip Graham Best
Keyword(s):  
Small Business ◽  
Cultural Values ◽  
Traditional Knowledge ◽  
Business Model ◽  
Small Businesses ◽  
Middle Eastern ◽  
Business Owners ◽  
Business Culture ◽  
Small Business Owners ◽  
New Business

<p>Māori small business owners must work in two cultures; their own Māori culture and the Pākehā culture which frames much of the legal and commercial imperatives of their business. Some Māori business leaders have commented on the need to develop a new business model for Māori owned and operated businesses that allow Māori to bring their own cultural values to a business whilst operating in a Pākehā environment. This research sheds some light on what some of the ingredients of that business model may be. Respondents owning small businesses commercialising traditional knowledge were interviewed about the cultural values they used in their business. Interviews comprised a face to face oral interview providing qualitative information followed by a written questionnaire providing frequency of use for both Māori and Pākehā concepts. This research shows how Māori small business owners commercialising traditional knowledge have been able to take appropriate parts of both their Māori and Pākehā cultures to develop and operate a business that builds on the best of both worlds. Using the ambicultural approach (Chen and Miller, 2010, 2011) it has been possible to analyse the relationships between aspects of Māori and Pākehā business culture. Māori respondents told of how they felt about the financial aspects of their business compared to the cultural and social aspects which were all important elements of their business. Respondents described how they balanced their cultural and social objectives with the financial objectives which enabled the business to remain sustainable. Social and cultural outputs are often found in other non-western businesses and some features of these are discussed leading to the conclusion that Māori businesses are more similar to those in some Asian and Middle Eastern localities than to the western environment in which they operate. The ambicultural approach has already been used by Chen and Miller to describe the success of some Asian based businesses. Applying an ambicultural relational approach to Māori small business has made it possible to explain how Māori small business owners are able to intertwine their cultures to develop a new operating culture for their business which provides the cultural, environmental, financial and social outputs they are searching for.</p>

scholarly journals The Best of Both Worlds - How Māori Small Businesses Engage with Their Pākehā and Māori Values

2021 ◽  
Author(s):  
◽  
Philip Graham Best
Keyword(s):  
Small Business ◽  
Cultural Values ◽  
Traditional Knowledge ◽  
Business Model ◽  
Small Businesses ◽  
Middle Eastern ◽  
Business Owners ◽  
Business Culture ◽  
Small Business Owners ◽  
New Business

<p>Māori small business owners must work in two cultures; their own Māori culture and the Pākehā culture which frames much of the legal and commercial imperatives of their business. Some Māori business leaders have commented on the need to develop a new business model for Māori owned and operated businesses that allow Māori to bring their own cultural values to a business whilst operating in a Pākehā environment. This research sheds some light on what some of the ingredients of that business model may be. Respondents owning small businesses commercialising traditional knowledge were interviewed about the cultural values they used in their business. Interviews comprised a face to face oral interview providing qualitative information followed by a written questionnaire providing frequency of use for both Māori and Pākehā concepts. This research shows how Māori small business owners commercialising traditional knowledge have been able to take appropriate parts of both their Māori and Pākehā cultures to develop and operate a business that builds on the best of both worlds. Using the ambicultural approach (Chen and Miller, 2010, 2011) it has been possible to analyse the relationships between aspects of Māori and Pākehā business culture. Māori respondents told of how they felt about the financial aspects of their business compared to the cultural and social aspects which were all important elements of their business. Respondents described how they balanced their cultural and social objectives with the financial objectives which enabled the business to remain sustainable. Social and cultural outputs are often found in other non-western businesses and some features of these are discussed leading to the conclusion that Māori businesses are more similar to those in some Asian and Middle Eastern localities than to the western environment in which they operate. The ambicultural approach has already been used by Chen and Miller to describe the success of some Asian based businesses. Applying an ambicultural relational approach to Māori small business has made it possible to explain how Māori small business owners are able to intertwine their cultures to develop a new operating culture for their business which provides the cultural, environmental, financial and social outputs they are searching for.</p>

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