BUSINESS MODEL AS KEY TO COMMERCIAL SUCCESS

2021 ◽  
Vol 3 (10) ◽  
pp. 97-105
Author(s):  
S. A. Filin ◽  
◽  
K. A. Kholoptseva ◽  
Keyword(s):  
Business Model ◽  
Business Models ◽  
Business Processes ◽  
New Products ◽  
Business Development ◽  
Point Of View ◽  
Commercial Success ◽  
Modern Business ◽  
Grouping Study ◽  
Current Stage

The purpose of the article is to propose a recommendation on the formation of a business model effective in modern conditions. Methods of system and factor analysis, economic and mathematical modeling, grouping, study and synthesis of information and assessment were applied. The essence and content of modern business models were analyzed from the point of view of achieving the commercial success of the organization, including using the example of Tinkoff JSC. It was concluded that the success of the organization at the current stage of business development depends on the development and implementation of new products and processes in the production and management of the organization. In the field of management, this idea is manifested in different forms of organizing business processes, for example, in business groups, business models.

scholarly journals Financial sector evolution and competencies development in the context of information and communication technologies

2020 ◽  
Author(s):  
Ilja Arefjevs ◽  
◽  
Aivars Spilbergs ◽  
Andris Natrins ◽  
Atis Verdenhofs ◽  
...  
Keyword(s):  
Information And Communication Technologies ◽  
Business Model ◽  
Business Models ◽  
Business Processes ◽  
New Products ◽  
Communication Technologies ◽  
Financial Sector ◽  
New Business ◽  
Information And Communication ◽  
Competencies Development

The development of information and communication technologies (ICT) has a significant impact on the business model of companies operating in the financial sector. Digital transformation leads to changing existing business model rapidly, as well as necessity of developing new processes specifically related to the use of ICT in business processes, development of new products and updating existing ones. At present, changes in the demand for ICT related processes in financial sector are observed both through the development of different technologies and their applications core or ancillary processes (e.g. innovations in payment systems including crypto currencies, blockchain-assisted smart contract, credit markets and insurance including peer-to-peer lending). Based on the opportunities offered by ICT, new business models need to be developed in the financial sector to transform these capabilities into new products and services that respond to changing customer demand. The aim of research to investigate the changes taking place in financial sector in the light of developments in ICT for acquisition of necessary competencies. Research methodology includes systematic review of scientific literature, analysis of selected financial sector statistics, semi-structured industry expert interviews and statistics analysis. The empirical study is limited to the financial sector of Latvia. Although due to the global nature of the financial sector the research findings could be applied internationally.

scholarly journals BUSINESS MODEL AS A VALUE MANAGEMENT TOOL

2021 ◽  
Vol 7 (2) ◽  
pp. 110-117
Author(s):  
Viktoriia Kyfyak ◽  
Andrii Antokhov ◽  
Serhii Todoriuk
Keyword(s):  
Business Model ◽  
Business Models ◽  
Business Processes ◽  
Business Development ◽  
Market Potential ◽  
Practical Significance ◽  
Management Tool ◽  
Business Modelling ◽  
A Value ◽  
Starting Point

Urgency of the research. In the crisis conditions of quarantine, business modelling has become the subject of scientific debate and demand from businesses. Applying conservative approaches to business models has caused significant financial losses and depreciation of business value. Thus, value models that reflect the assessment of various business processes in monetary terms are becoming especially relevant. Therefore, managers understand the synergetic effect of the procedural approach to business processes construction and the component contribution of business processes in achieving the goals of the enterprise. The research purpose is the improving of the scientific principles and development of a methodical approach to improvement of scientific bases and the formation of a business model from a value point of view, which has practical significance for the formation of a vision of business development. Uninvestigated parts of general matters defining. In the conditions of social crisis and fluctuations, many tools of business development and its business modelling have lost their relevance. Businesses need to find the latest approaches to business structuring and development. Research methodology. The basis of the study is a systematic analysis and a comprehensive approach to the formation of methods for building a cost-effective business model of the enterprise. Analysis and synthesis were used to characterize approaches to business modelling and determine their features, and the dialectical method was used to formulate the essence of the category “business model”. Using statistical methods allowed to get trends in the business and its modelling analysed. For a complex representation of the model, a graphical method was used (for visualization of the model) and economic mathematical modelling for the representation of the model, which has practical significance in the trends of digitalization of business processes. Results. The article substantiates that the formation of a value business model is a prerequisite for a radical rethinking of business approaches, creating the potential for its development and a starting point for innovation and change. After analysing different approaches to business modelling and to estimating the value of business on the basis of a systematic approach, a value business model is proposed, which consists of a value rhombus and a square of potential. This model includes all business processes of the enterprise and assesses the potential of business development. The mathematical expression of the components of the model that corresponds to the process approach and cost evaluation and can serve as a tool for forming a software product is proposed. The advantages of applying such a model in practice are substantiated. Practical implications. The business model and clear well-defined mechanisms of its formation are a necessary requisition for business development. Scientists are often inclined to think that a business model is a complex mathematical or econometric expression. However, in practice, it is the graphic visualization of the business structure that is important in terms of forming a deep understanding of business as a system and areas for improving its components. Value/originality. The proposed approach to business modelling can be used in the following areas: evaluation of business efficiency as an individual enterprise, and in comparison as well; assessment of investment attractiveness of the business; assessment of business potential and directions of its development; analysis of the market potential of the enterprise; strategic analysis of business development and determination of its competitive advantage; a basis for the software or systems of the Workflow class development.

scholarly journals A Research Paper on G-mart: The E-Commerce Website

2021 ◽  
Vol 9 (11) ◽  
pp. 1949-1956
Author(s):  
Gurpreet Singh
Keyword(s):  
Electronic Commerce ◽  
Business Model ◽  
Business Models ◽  
Internet Banking ◽  
Business Practices ◽  
Goods And Services ◽  
Modern Business ◽  
Self Service ◽  
Self Service Technology ◽  
Start Ups

Abstract: E-commerce is a boom in the modern business. E-commerce means electronic commerce. E- commerce (Electronic commerce) involves buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, predominantly the Internet. E-commerce (Electronic commerce) is a paradigm shift influencing both marketers and the customers. Rather e-commerce is more than just another way to boost the existing business practices. It is leading a complete change in traditional way of doing business. This significant change in business model is witnessing a tremendous growth around the globe and India is not an exception. A massive internet penetration has added to growth of E-commerce and more particularly start-ups have been increasingly using this option as a differentiating business model. Moreover, E-Commerce has significant influences on the environment. Although the model is highly used in current business scenario but the option has not been explored at its fullest. The current research has been undertaken to describe the scenario of E-Commerce, analyze the trends of E-Commerce. The study further examines the key variables imperative for the success of E-commerce business models. Keywords: E-Commerce, Internet, Self-service, Technology, Internet banking.

Creativity Processes Applied to the Innovation Management of Digital Showroom for Cars

2021 ◽  
Vol 2 (1) ◽  
pp. 14-28
Author(s):  
Francelma Maria de Moura Macêdo ◽  
Jamerson Viegas Queiroz ◽  
Zulmara Virgínia de Carvalho ◽  
Cristiano Alves
Keyword(s):  
Business Model ◽  
Service Sector ◽  
Business Models ◽  
Innovation Management ◽  
Point Of View ◽  
Exploratory Research ◽  
Value Proposition ◽  
Health Crisis ◽  
Collective Creativity ◽  
Human Need

The COVID-19 pandemic has profoundly impacted the Brazilian service sector. With the health crisis, challenges and changes in the business models of car dealerships are also intensified. Creativity is discussed by several conceptual approaches. From the point of view of neuroscience, it is a response to the human need of solving problems. It is within this premise that the present work aims to enhance value proposition for a business model centered on automobile e-commerce. This purpose unfolds in an exploratory research on approaches, methodologies, and tools of creativity, as well as the application of Cristiano Alves' Creative Framework in this business model. The analysis of the results signals improvements in solutions for car e-commerce. With this, it is concluded that collective creativity is efficient in the discovery of potentially innovative ideas.

A Dynamic Vision of Value Chains

2015 ◽  
pp. 156-182
Keyword(s):  
Business Model ◽  
Business Models ◽  
New Products ◽  
Business Environment ◽  
Value Chains ◽  
Contemporary Debate ◽  
Digital Revolution ◽  
Dynamic Vision ◽  
Ict Industry

The Business Model (BM) notion has become popular because of a business environment shaped by ICT and globalization and characterized by an increasing complexity and uncertainty. Innovative ICT industry coupled with ever-growing products, services, and applications have placed business models at the heart of the new digital revolution. In this chapter, the authors examine how the concept has been applied in the field of ICT and is used in contemporary debate. These new BMs are based on new forms of organization and/or on new products and services offerings. The BM concept has attracted attention both from practitioners and academics. The concept has received wide recognition; yet in practice, it is a new and evolving concept. It has inspired numerous researchers and academics and has given rise to different interpretations, one around which there is not always a perfect consensus. However, despite its wide use, the notion of the business model has become more complex.

Financing Social Enterprises Through Cash Waqf

2021 ◽  
pp. 214-227
Author(s):  
Nor Razinah Mohd. Zain ◽  
Najim Nur Fauziah ◽  
Habeebullah Zakariyah ◽  
Azman Mohd. Noor
Keyword(s):  
Business Model ◽  
Social Enterprise ◽  
Qualitative Methodology ◽  
Business Models ◽  
Islamic Law ◽  
Social Enterprises ◽  
The Social ◽  
Modern Business ◽  
Analytical Review ◽  
Research Findings

This research explores the potential of cash waqf in generating capital revenue in carrying out social-based investment through social enterprises. Looking closely into two different concepts (i.e., social enterprises and waqf), this research appreciates the understanding on the modern business model of social enterprise and the innovative version of religious social finance (i.e., cash waqf). Depending on qualitative methodology and analytical review, the discussion of this research is developed. These approaches are considered suitable and pragmatic for the suggested business model of social enterprise. Here, an innovative business model with a combination of social enterprise operation and cash waqf is introduced. It has the potential to stimulate further research to innovate religious social finance instruments to current and modern business models. This research proposes a business model of social enterprise that combines cash waqf in its operation for sake of generating capital revenue. Simultaneously, such a business model has the potential to expand the cash waqf in meeting social objectives of the social enterprise. As research findings, it is found that even though waqf is derived from a religious traditional philanthropic instrument, its innovative version of cash waqf can be utilised in generating capital revenue for social enterprises. As long as the required principles of cash waqf as provided under Islamic law is fulfilled, a combination of cash waqf in the operation of social enterprise can be carried out.

scholarly journals Managers Fail to Innovate and Academics Fail to Explain How

2018 ◽  
Vol 14 (1) ◽  
pp. 229-239 ◽  
Author(s):  
Deborah Dougherty
Keyword(s):  
Emerging Economies ◽  
Climate Changes ◽  
Business Models ◽  
Business Processes ◽  
New Products ◽  
Grand Challenge ◽  
Social Changes ◽  
Development Processes ◽  
Investor Returns ◽  
Over Time

I am stunned by the failure of so many organizations to create the capability for generating streams of new products and services over time. Organizations capable of ongoing innovation can create more profits, more value, more employment, more growth, and more adaptability to transformations in technologies and markets (BCG study of investor returns). Generating streams of innovation is even more important now, especially for organizations in emerging economies, because industrial transformations and global grand challenges (Ferraro, Etzion, & Gehman, 2015) demand continuous innovations in products, programs, business processes, and strategies. For example, digitalization is transforming business models from vertical industrial silos such as consumer goods, materials, or financials to horizontal platforms that orchestrate networks, create technologies, and provide services (think Amazon, Alibaba). New markets and technologies emerge unpredictably but will produce major economic and social changes. Emerging economies more directly face grand challenge complexities of poverty, water scarcity, inequality, and climate changes. Innovations in emerging economy organizations are also very complex, since they often include innovations in sales, distribution, and business models along with rigorous product design and development processes.

scholarly journals Main Points of Digital Agency Business Processes Management: Foodtech Sector Case

2021 ◽  
Vol 126 ◽  
pp. 04004
Author(s):  
Elena Omelyanenko ◽  
Teofilo Tirto ◽  
Dmitry Volodin ◽  
Vitaliy Omelyanenko ◽  
Galina Kovtun
Keyword(s):  
Business Model ◽  
Corporate Culture ◽  
Business Processes ◽  
Digital Transformation ◽  
Point Of View ◽  
Model Management ◽  
Customer Relationship ◽  
Digital Marketing ◽  
Service Development ◽  
Digital Agency

The research deals with the analytics of the features of business processes of a digital agency and the identification of promising aspects of digital marketing as a tool for B2B interaction in the Foodtech market. It is noted that the primary trend of the Foodtech sector deals with digital transformation. From the strategic point of view of creating a business model, it is necessary to understand that digital transformation involves the installation of modern hardware or software and fundamental changes in approaches to management, corporate culture, and communications. To increase the efficiency of the digital agency’s business model, the authors propose to consider digital marketing. The analysis of the effectiveness of the business model of the digital agency allowed us to identify the most problematic and, at the same time, promising components of the business model. Based on generalized approaches to business model management in the case of a digital agency in the design of relevant services, it is proposed to consider maximizing the speed and efficiency of business model transformation and minimizing the uncertainty of further digital service development based on customer relationship management.

scholarly journals READINESS FOR DIGITAL TRANSFORMATION – THE OUTLOOK OF TOP BALTIC COMPANIES

2021 ◽  
Vol 12 ◽  
pp. 119-136
Author(s):  
Aleksandrs Popovs ◽  
◽  
Zane Drinke ◽  
Keyword(s):  
Business Processes ◽  
Digital Transformation ◽  
Point Of View ◽  
Future Research ◽  
Online Questionnaire ◽  
Statistical Population ◽  
Selective Approach ◽  
Modern Business ◽  
Market Needs ◽  
Operational Concept

The aim of this study was to explore and assess the point of view on digital transformations of companies who are currently in the transformation program and running digital transformation projects. The study collects data from diverse top companies across Baltics region across various industries. Within the study the descriptive researchmethod isin use. The statistical population of this study is an extended list of companies from the Coface study for Baltic top 50 ranking for 2019. The sampling for the study was based on purpose selective approach which includes 11 companies from the statistical population. The data collection was carried out by an online questionnaire and afterwards through interviews with the respondents to validate the data provided. The results of the research is the outlook created which includes a number of aspectsto be considered for future research: (1) Currently, the competence level of transformation processes in flagship companies and respectively in rest of the companies in the market needs to be improved; (2) Business demand for knowledgeable digitaltransformation experts with comprehensive modern business processes management knowledge is relatively higher rather one with pure technical expertise in cutting cutting edge technologies; (3) To boost digital transformation toward the operational concept of Intelligent Enterprise, support and guidance from the global digital transformation advisory partners is highly recommended.

Sign in / Sign up

Export Citation Format

Share Document