scholarly journals Business Models and Modern Instruments for Improving the Efficiency of Retail Trade Enterprises

2021 ◽  
Vol 3 (518) ◽  
pp. 207-212
Author(s):  
N. O. Ivanchenko ◽  
◽  
O. S. Podskrebko ◽  
V. M. Mazur ◽  
◽  
...  
Keyword(s):  
Customer Service ◽  
Business Model ◽  
Business Models ◽  
Model Development ◽  
Business Environment ◽  
Retail Trade ◽  
Current Status ◽  
Retail Business ◽  
New Business ◽  
Main Components

The article is aimed at examining the main components of retail business models, to determine the probable directions in which these models can develop, as well as identifying the factors and tendencies that form the business models used by retail trade enterprises. The current status of retail trade, innovations and changes to the business models of evolutionary nature are analyzed. The need to implement new solutions for store formats, cooperation of distribution channels, changes in the range of products and services offered, as well as the use of machine learning for effective management of retail business is substantiated. Based on observations on the activities of modern retail enterprises, it can be stated that changes that occur in the business environment lead to the need to find and implement effective ways to gain competitive advantages through the use of new business models. The article consistently covers the nature and components of the retail business model, business model development issues, analysis of both external and internal factors that determine changes in business models, as well as defines trends and examples of innovative solutions in the formation of models for retail trade business. It is concluded that in the changing conditions of today, retailers need to constantly modify the business models used and improve the processes associated with the implementation of basic business functions, such as procurement, warehousing, sales and customer service.

Sustainable Competitive Advantage Through Business Model Innovation

2020 ◽  
pp. 191-213
Author(s):  
Purna Prabhakar Nandamuri ◽  
K. S. Venu Gopala Rao ◽  
Mukesh Kumar Mishra
Keyword(s):  
Business Model ◽  
Business Models ◽  
New Technologies ◽  
Business Environment ◽  
Business Model Innovation ◽  
Sustainable Competitive Advantage ◽  
Term Survival ◽  
New Business ◽  
Indian Perspective

Conventionally, businesses focus on their offerings for growth. But the increasingly unpredictable business environment is making them irrelevant in the market. So, businesses should resort to a system of dynamic management by innovating on the business models rather than a single aspect of the business. Business model innovation demands neither new technologies nor creation of new markets, but cares about delivering the existing products produced by existing technologies to the existing markets, through a unique model. Hence, defining, innovating, and evolving new business models have become the new basis of competition. A differentiated, hard-to-imitate, effective, and efficient business model is more likely to ensure higher profits and long-term survival. In this context, the present chapter attempts to furnish multiple global evidences and discuss the Indian perspective of business model innovation.

scholarly journals New Business Models Based on Multiple Value Creation for the Customer: A Case Study in the Chemical Industry

2020 ◽  
Vol 12 (9) ◽  
pp. 3932
Author(s):  
Iveta Šimberová ◽  
Peter Kita
Keyword(s):  
Business Model ◽  
Value Creation ◽  
Chemical Industry ◽  
Customer Value ◽  
Business Models ◽  
Model Development ◽  
Theoretical Background ◽  
New Business ◽  
Multiple Value ◽  
New Business Models

The paper’s objective is to describe business models currently used in terms of sustainable multiple customer creation in the chemical industry in the Czech Republic, namely Section 20.1 in the CZ NACE (Classification of Economic Activities). The business models are described through a specified set of business model elements, which correspond with the presented theoretical bodies. The business models are also evaluated and benchmarked based on a custom indicator measuring business model novelty. The theoretical background of the research consists of three theoretical bodies: Sustainability, multiple customer value creation, and new business models. The research stems from the theoretical background and anticipates that the business model development dynamics drives companies to consider the reasons and conditions of their very existence. The Canvas business model serves as a visualization tool, as it is sufficiently comprehensive, analytical, flexible, and general. For this reason, it is appropriate for the research of new business models aimed at multiple value creation in any industry. Owing to the frequency of occurrence of elements in the fields of the canvas business model, it is possible to develop the majority and minority business model design representing the basis of the research.

Harnessing platform-based business models to power disruptive innovation

2016 ◽  
Vol 44 (5) ◽  
pp. 6-14 ◽  
Author(s):  
Haydn Shaughnessy
Keyword(s):  
Business Model ◽  
Customer Value ◽  
Business Models ◽  
Business Environment ◽  
Disruptive Innovation ◽  
Senior Managers ◽  
Content Type ◽  
Continuous Innovation ◽  
New Business ◽  
Unique Customer

Purpose Adopting and implementing a platform-based business model is fraught with problems and complications, many of which are poorly understood even by industry insiders. As they try to sort through the best practices for operating in this new business environment, senior managers need to carefully analyze the strengths of the business model of some of most successful companies before trying to imitate them. . Design/methodology/approach For a team to execute such a strategy quickly and seamlessly it must first thoroughly understand the components of such a business model and how they interact to produce unique customer value and formidable competitive advantage Findings The platform is a new way to organize wealth-creating activity. Practical implications The author details the components of a successful platform-based business model. Originality/value Platform-based business models seek to leverage the assets of third parties and in the process extend the value of economic activity to customers in ways that engage and benefit them. Senior leaders and operations managers alike need to understand that continuous innovation of customer value and policies that attract asset-rich partners and skillful developers is essential to the growth of the network.

scholarly journals Transformation of Business Models of Retail Enterprises in the Conditions of Digitalization

2020 ◽  
Vol 10 (513) ◽  
pp. 384-391
Author(s):  
N. V. Proskurnina ◽  
Keyword(s):  
Customer Service ◽  
Value Creation ◽  
Value Chain ◽  
Business Models ◽  
Retail Trade ◽  
Digital Revolution ◽  
Shopper Marketing ◽  
Retail Business ◽  
On Line ◽  
Self Service

The article is aimed at generalizing the theoretical and practical principles of transformation of business models of retail enterprises in the digitalization of the economy. The determinants of innovative transformation of retail business models are characterized, which allow, based on internal and external conditions, to critically rethink and adjust the basic principle by which value is created. The need to search for ideas of the latest business models of retail trade, on the basis of which enterprises will be able to be successful and grow rapidly in the conditions of digitalization, is proved. A scientific generalization and systematization of business models of value creation in both off-line and on-line channels is carried out. According to the model of Graf and Schneider, a value chain is defined, which is based on the following primary activities: supply (range, focused on demand); presentation of the product (photo of the product, listing, recommendations, text); marketing and sales (off-line marketing, on-line marketing, sales channels); executing sale and purchase (issue of check, payment methods, risk analysis); logistics (delivery of goods, management of return of goods); customer service (dialogue with the client in social networks, hot-line, chat, on-line self-service). These determinants in the course of value creation can be materialized on the basis of innovative approaches, through multichannel sales, use of brands, pricing management, integration of customers into various processes and shopper marketing (buying marketing), which allows to focus on the decision-making process from the first opinion of the consumer about the purchase of goods and further on, during making the choice. It is noted that the rapid response to changes, the proactive search for new ideas and high readiness for digitalization are triggers of the successful transformation of the business model of retailers in the digital revolution. As the main competencies at the retail enterprises the author defines innovation, digital intelligence and personalization, which must be adequately used to win the competition.

Sustainable Competitive Advantage Through Business Model Innovation

2018 ◽  
pp. 217-246
Author(s):  
Purna Prabhakar Nandamuri ◽  
K. S. Venu Gopala Rao ◽  
Mukesh Kumar Mishra
Keyword(s):  
Business Model ◽  
Business Models ◽  
New Technologies ◽  
Business Environment ◽  
Business Model Innovation ◽  
Sustainable Competitive Advantage ◽  
Term Survival ◽  
New Business ◽  
Indian Perspective

Conventionally, businesses focus on their offerings for growth. But the increasingly unpredictable business environment is making them irrelevant in the market. So, businesses should resort to a system of dynamic management by innovating on the business models rather than a single aspect of the business. Business model innovation demands neither new technologies nor creation of new markets, but cares about delivering the existing products produced by existing technologies to the existing markets, through a unique model. Hence, defining, innovating, and evolving new business models have become the new basis of competition. A differentiated, hard-to-imitate, effective, and efficient business model is more likely to ensure higher profits and long-term survival. In this context, the present chapter attempts to furnish multiple global evidences and discuss the Indian perspective of business model innovation.

Opening Closed Business Ecosystem Boundaries With Digital Platforms

2022 ◽  
pp. 67-96
Author(s):  
Marika Iivari ◽  
Petri Ahokangas ◽  
Marja Matinmikko-Blue ◽  
Seppo Yrjölä
Keyword(s):  
Business Model ◽  
Business Models ◽  
Model Development ◽  
Business Environment ◽  
Digital Platforms ◽  
Digital Twin ◽  
Ecosystem Boundaries ◽  
Business Ecosystem ◽  
Business Model Development ◽  
Model Approach

Applying a business model approach, this chapter identifies various challenges in digital platform and platform-based business model development in the case of a physical port ecosystem. Using an empirical case, the chapter identifies the prerequisites and consequences of opportunities, value, and advantages for an existing ecosystem that aims to create a “digital twin.” It contributes to academic discussions on the intersection of ecosystems, platforms, and business models by exploring the antecedents and controversies of configuring ecosystem boundaries in a digital context. Moreover, the chapter contributes to research by analyzing how a previously closed ecosystem seeks to open its boundaries and interfaces, both internally among the internal ecosystem members and externally to the outside business environment.

Coworking-Space Business Models: Micro-Ecosystems and Platforms — Insights from China

2020 ◽  
Vol 17 (06) ◽  
pp. 2050044 ◽  
Author(s):  
Ricarda B. Bouncken ◽  
Yixin Qiu ◽  
Thomas Clauss
Keyword(s):  
Business Model ◽  
Information Exchange ◽  
Business Models ◽  
Innovation Policy ◽  
Model Development ◽  
Sharing Economy ◽  
New Business ◽  
Coworking Spaces ◽  
Business Model Development ◽  
New Business Models

The sharing economy gives rise to numerous new business models. A prominent novel one relates to coworking-spaces, where independent individuals and teams share spaces and amenities and engage in social interaction and information exchange. Yet the business models of such spaces are not well known. Our qualitative study identifies four types of business models design of coworking-spaces in China, where coworking-spaces have sharply increased in number and importance. We find four types of coworking-space business model configurations: efficiency-centered business model, user-centered business model, development-centered business model, and platform-centered business model, which exceed the prior conceptualization of business model themes. Especially, the platform-centered business model relates to innovation policy in China, facilitating mini-spatial innovation ecosystems.

scholarly journals Establishing a Graduate Agropreneur Business Model for Food Security: A Case Study of the Melon Manis Terengganu (MMT) Fertigation Project

2021 ◽  
Vol 2 (1) ◽  
pp. 30-37
Author(s):  
Fakhrul Anwar Zainol ◽  
Norhayati Ngah ◽  
Wan Norhayate Wan Daud ◽  
Chua Kim Aik
Keyword(s):  
Food Security ◽  
Business Model ◽  
Business Models ◽  
Business Environment ◽  
Business Model Innovation ◽  
Security Issues ◽  
Structural Problems ◽  
Technological Advances ◽  
New Business ◽  
The Government

Revitalizing Malaysia’s agriculture, to cater to food security issues, has become a priority, given the current economic conditions faced by the government, due to the worldwide COVID19 pandemic.  There are, however, a set of complex issues, which involve human capital development, trade agreements, domestic structural problems, and the appropriateness of techniques that must be tackled. Graduate agropreneurs, though, seem to be the future of the nation; while they, continue to struggle with profitability in these difficult economic times. The agricultural industry, however, supports the view that through business model innovation, farms can increase their competitive advantage. This paper identifies and describes some of the elements needed for these graduate agropreneurs when they consider business model innovation. A qualitative approach was used in this study to interview successful graduate agropreneurs involved in Melon Manis Terengganu (MMT) fertigation farming. The paper concludes that the relevance of a business model, in agriculture, relies on the fact that global competition and technological advances urge agropreneurs to look for new business structures and new ways to interact within the business environment. On the other hand, the agropreneur projects should take into consideration the viability of the agriculture projects to encourage a new generation of farmers; the young, energetic, and knowledgeable agropreneurs, to venture into high technology farming which also has substantial income potential. All factors, however, merit attention when graduate agropreneurs develop new business models for their farms.

scholarly journals FMCG-RETAIL BUSINESS MODEL IN THE GLOBAL COMPETITIVE ENVIRONMENT OF THE KNOWLEDGE ECONOMY

2021 ◽  
Author(s):  
Anastasiia Huzenko ◽  
Keyword(s):  
Business Model ◽  
Knowledge Economy ◽  
World Market ◽  
Retail Trade ◽  
Competitive Environment ◽  
Retail Business ◽  
New Business ◽  
Factors Of Influence ◽  
Market Needs ◽  
Economic Ties

The article analyzes the period of functioning of FMCG-retail in the global competitive environment of the knowledge economy. Retail purposefully influences the market environment and the dynamics of economic development, contributing to the spread of economic and cultural globalization, strengthening close world economic ties, defining market guidelines for producers, competitors and consumers, and vice versa, the global competitive environment of the knowledge economy dictates in the market, therefore in the given work the estimation of the basic factors of influence of the global competitive environment of knowledge economy on the world market of FMCG-retail was carried out. The aim of the article is to develop and substantiate a new business model of FMCG-retail in a global competitive environment of the knowledge economy. The study revealed the transformation of the business model into the following components: factors of influence, key partners, resources, actions, core values, sales channels, methods of communication, key customers, which in turn leads to changes in the structure of costs and revenues. The new model emphasizes the need to create demand, not just to meet existing market needs. Digital transformations in Ukraine affect changes in the business model in several aspects. In the case of FMCG-retail, digital transformation includes digitization of operations, such as automation of logistics processes and tracking of customers’ movement on the site, digitization of supply chains, is automated location search and omnichannel development. In turn, the classic marketing of promotion and branding in a global competitive environment of the knowledge economy becomes ineffective, it is replaced by intelligent marketing, which involves changing the approach to standard operations and processes – such as electronic price tags or geolocation services for personalized offers. The changes concern such a component of the business model as basic resources, the main focus is already shifting to human capital, which produces innovative technological solutions for business development, which brings increasing turnover. All these trends destroy the traditional boundaries of retail trade, and have a significant impact on the multi-channel business model, changing it dramatically.

Open for business? An integrative framework and empirical assessment for business model innovation in the gastronomic sector

2017 ◽  
Vol 119 (11) ◽  
pp. 2325-2339 ◽  
Author(s):  
Marcel Bogers ◽  
Jørgen Dejgård Jensen
Keyword(s):  
Business Model ◽  
Business Models ◽  
Model Development ◽  
Hierarchical Cluster ◽  
Business Model Innovation ◽  
Model Concept ◽  
Content Type ◽  
Empirical Assessment ◽  
Integrative Framework ◽  
Main Components

Purpose The purpose of this paper is to identify and explore different business models that are active in the gastronomic industry and assess where there may be opportunities and limitations for innovation. Design/methodology/approach The authors develop a conceptualization of the business model concept and some of its main components – considering an internal and external orientation – and how they can be applied to the gastronomic sector. On this basis, the authors propose, develop and test an empirical framework for the economic sustainability of gastronomic enterprises. Based on data from a publicly available database of the Danish hospitality sector, the authors conduct hierarchical cluster analysis to identify different business models for the Danish gastronomic sector. Findings Given the diversity of the gastronomic sector, there can be a multitude of alternative business models and characteristics, which may enable the sector to create value through, for example, product differentiation, market segmentation, and so on. The analysis revealed nine different clusters, which represent different business models in terms of value creation, segmentation, and resource utilization – highlighting either more closed or open business models. These business models offer a basis for considering the opportunities and barriers for business model innovation – for both startups and incumbent firms – within gastronomy and agri-food more generally. Originality/value The gastronomic sector is diverse and heterogeneous with a multitude of possible alternative business models. This paper provides a basis for considering the key enablers of business model development in this sector. The integrative framework and empirical assessment provides a basis for further exploring business model innovation in the gastronomic sector in particular and the agri-food sector more generally.

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