scholarly journals Cognitive modelling application to business model choice justify of an economic organization

2021 ◽  
Vol 16 (4) ◽  
pp. 6-20
Author(s):  
Larisa V. Fomchenkova ◽  
◽  
Vladimir P. Fomchenkov ◽  
◽  
◽  
...  
Keyword(s):  
Business Model ◽  
Information Technologies ◽  
Research University ◽  
Business Models ◽  
Business Environment ◽  
Fuzzy Cognitive Maps ◽  
Economic Organization ◽  
Cognitive Modelling ◽  
Factors Affecting ◽  
Intelligent Decision Making

This article considers the urgent scientific and practical task of developing analytical tools to justify the choice and transformation of a business model for an economic organization in a rapidly changing business environment. The mathematical apparatus of cognitive modelling is proposed to use to solve this problem, which makes it possible, based on the analysis of cause- effect relationships between the most significant conditions and factors affecting the economic efficiency and competitiveness of doing business, to improve the reasonableness and reduce the subjectivity of the decisions made by its owners and top managers. An algorithm to justify the choice of a business model for an organization based on the construction and analysis of fuzzy cognitive maps (FCM) of business models is proposed. A common list of business factors (concepts) and a set of causality relations between each pair of concepts has been defined, and a basic FCM of the business model is developed as the basis for constructing FCM models of specific businesses. An example of the application of the developed toolkit in a strategic analysis of the conditions and factors of an organization undertaking the production of furniture, carried out to justify a change in competitive strategy and the associated transformation of the business model, is considered. The analysis has been performed using specialized cognitive modelling software developed at the department of information technologies in economics and management, branch of the National Research University Moscow Power Engineering Institute in Smolensk. The proposed toolkit improves methods and algorithms for intelligent decision-making support in the management of economic and social objects and can find practical application in the strategic management of commercial organizations in various fields, as well as be used by professional consultants in the preparation of recommendations for business model change.

scholarly journals Pushing the Limits using Business Model Innovation a Three Pronged Approach and Lessons Learned

2021 ◽  
Vol 2 (1) ◽  
pp. 24-35
Author(s):  
Ignitia Motjolopane
Keyword(s):  
Business Model ◽  
Value Creation ◽  
Business Models ◽  
Industrial Revolution ◽  
Business Environment ◽  
Business Model Innovation ◽  
Lessons Learned ◽  
Revenue Streams ◽  
Reducing Costs ◽  
Model Components

In a constantly changing business environment, with increasing digitisation and fourth industrial revolution blurring the traditional value creation boundaries, companies need to explore ways to push the limits to remain competitive. Business model innovation offers companies the dynamic capability to differentiate business models and find innovative revenue streams while reducing costs. As such, the question arises as to how company may use business model innovation to remain competitive as the world digitises. Based on a literature review and empirical research involving six case studies, a three pronged approach in support of business model innovation is proposed. Business model innovation has the potential to push the limits when company executives and academia focus on the interrelation between drivers, process and components. Moreover, both effective and ineffective practices based on the research are presented. In conclusion, for companies to use business model innovation in pushing the limits, there is need to respond to the business model innovation drivers, adopt a systematic process and change at least one or more business model components and taking into account the interactions between these three concepts. This article may contribute to existing theory in the field of business model innovation and lessons learned from executives that have pushed the limits using business model innovation. Doi: 10.28991/HEF-2021-02-01-03 Full Text: PDF

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.

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 The Role of Internet of Things on the Development of Ports as a Holder in the Supply Chain

2018 ◽  
Vol 54 (1) ◽  
pp. 61-73
Author(s):  
Mladen Jardas ◽  
Čedomir Dundović ◽  
Marko Gulić ◽  
Katarina Ivanić
Keyword(s):  
Supply Chain ◽  
Internet Of Things ◽  
Information Transfer ◽  
Information Technologies ◽  
Business Models ◽  
Business Processes ◽  
New Technology ◽  
Supply And Demand ◽  
Business Environment ◽  
Weak Links

The new technology greatly affects the way of production, consumption, communication, service delivery and ultimately on the entire supply chain. All stakeholders in the business process must invest in new knowledge and develop new business models to adapt to the changing business environment. Connecting devices over internet (Internet of things) and stakeholders’ synergy open up opportunities for new market achievements as well as for the improvement of business processes both in the supply chain and in ports. The development of information technologies has an impact on the reduction of errors, costs, time of information transfer and transport, inventory reduction and thus on better customization. There should be no weak links in the supply chain, which is especially related to the port and port processes that are the basis of the supply chain network. The port is the core of all activities of the supply chain and is also a place where supply and demand meet.

BUSINESS MODELS IN THE COMMERCIALIZATION PROCESSES OF INNOVATION AMONG SMALL HIGH-TECHNOLOGY FIRMS

2014 ◽  
Vol 11 (02) ◽  
pp. 1450007 ◽  
Author(s):  
JARKKO TAPANI PELLIKKA ◽  
PASI MALINEN
Keyword(s):  
Business Model ◽  
Business Models ◽  
Innovation Management ◽  
High Technology ◽  
New Product ◽  
Business Environment ◽  
Technology Firms ◽  
High Technology Firms ◽  
Business Functions ◽  
Using Data

Small technology firms are currently facing increasingly severe competition in a dynamic business environment where an effective commercialization process may secure the survival of a venture and provide key benefits such as increases in turnover, profits and market share. However, technology firms have to be able to create the suitable business model for a new product commercialization in order to realize the economical potential and value. Therefore, it is important to increase our knowledge about the utilized business models in high technology sectors and their role as a part of new product commercialization and innovation management. Using data from 12 small technology firms, this study shows that business model creates an operational level of commercialization process and it can help managers to plan the value delivery through the process phases. Despite the trend toward opening up research and development and commercialization processes in the high technology fields, small high technology firms in this study seems to pursue more closed approaches to R&D than in other business functions such as marketing and sales.

scholarly journals Drivers and Outcomes of Business Model Innovation—Micro, Small and Medium-Sized Enterprises Perspective

2019 ◽  
Vol 11 (2) ◽  
pp. 344 ◽  
Author(s):  
Andreja Pucihar ◽  
Gregor Lenart ◽  
Mirjana Kljajić Borštnar ◽  
Doroteja Vidmar ◽  
Marjeta Marolt
Keyword(s):  
Business Model ◽  
Business Performance ◽  
Business Models ◽  
Positive Impact ◽  
Business Environment ◽  
Business Model Innovation ◽  
The Body ◽  
Path Modeling ◽  
Body Of Knowledge ◽  
Using Data

Business model innovation (BMI) is one of the key activities, which has to be continuously undertaken in every enterprise to sustain competitiveness in today’s digital economy. Although the interest in business models (BM) has risen significantly since the late 1990s, little is known about BMI practices in small- and medium-sized enterprises (SMEs), representing a majority of enterprises in the European market. Our study addresses this research gap and focuses on the investigation of drivers and outcomes of BMI in SMEs. A partial least squares path modeling (PLS-PM) method was used to empirically test the model using data collected in 2017 from 71 SMEs in Slovenia. Results have shown that the innovativeness of enterprises and their business environment has a positive impact on the level of BMI activities in the enterprises. However, this is not the case of fast developing and rapidly changing information technology. In addition, the results show that the level of BMI has a positive impact on BMI outcomes and further on overall business performance. The results contribute to the body of knowledge in the field of BMI activities in SMEs and offer useful insights to SMEs that intend to innovate their business model(s) and government to create a supportive environment.

Digital Marketing Strategies Based on the E-Business Model

2019 ◽  
pp. 86-103 ◽  
Author(s):  
Jose Ramon Saura ◽  
Pedro R. Palos-Sanchez ◽  
Marisol B. Correia
Keyword(s):  
Exploratory Study ◽  
Information Technologies ◽  
Business Models ◽  
Business Environment ◽  
Marketing Strategies ◽  
Digital Marketing ◽  
Future Research ◽  
Key Players ◽  
New Business ◽  
New Business Models

One of the most significant changes in the last decade in the business environment has been caused by the development of information technologies and the internet. The internal structure and organization of companies has changed to evolve towards a digital environment influenced by internet business models and digital marketing (DM) techniques. This chapter develops a systematic literature review with the objective of identifying the key players in the business environment with respect to the new business models and digital marketing techniques applied to them, to improve the benefits they bring to the company. The results of the research identify and define the main actors of the electronic commerce (EC) ecosystem, as well as their typologies and the main techniques of DM used in this field of research. The results of the exploratory study can be used for future research in this field and to reinforce the reference bibliography in this area of research.

scholarly journals The Creative Business Model Canvas

2020 ◽  
Vol 16 (2) ◽  
pp. 141-158
Author(s):  
Michelle Carter ◽  
Chris Carter
Keyword(s):  
Business Model ◽  
Business Models ◽  
Business Environment ◽  
Social Enterprises ◽  
Value Proposition ◽  
Visual Artists ◽  
Structured Interviews ◽  
Content Type ◽  
Business Model Canvas ◽  
Symbolic Value

Purpose Creative and cultural producers, like social enterprises, operate in a complex business environment where the value proposition is difficult to define, and the organisational motivations are not always financially driven. In the case of Australian visual artists, low incomes and limited access to government funding magnify the importance of developing sustainable business models. This paper aims to present the Creative Business Model Canvas (CBMC), a reinterpretation of Osterwalder and Pigneur’s CBMC (2010), for the benefit of a visual artist’s business planning. Design/methodology/approach This qualitative study uses data from semi-structured interviews to analyse and evaluate the effectiveness of the Osterwalder and Pigneur’s BMC (2010) for use by creative artists to understand the value of their artwork beyond traditional profit-driven business models. A modified canvas is presented to capture a clearer snapshot of creative arts practice with a focus on value propositions that possess dimensions of symbolic value. Findings This study found that the symbolic value of an artist’s practice is difficult to capture using Osterwalder and Pigneur’s CBMC (2010). An artist value proposition is composed of the artifact, artistic services and the artist’s identity. The creative CBMC, as a modified CBMC, captures aspects of the artistic identity such as professional achievements, personal life and the artist’s authenticity. Originality/value This study builds on Osterwalder and Pigneur’s CBMC and reimagines it for use by visual artists and art-based social enterprise organisations where the notion of value can be challenging to articulate.

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 Women Entrepreneurship and Sustainable Business Development: Key Findings from a SWOT–AHP Analysis

2021 ◽  
Vol 13 (9) ◽  
pp. 5298
Author(s):  
Daniel Stefan ◽  
Valentina Vasile ◽  
Anca Oltean ◽  
Calin-Adrian Comes ◽  
Anamari-Beatrice Stefan ◽  
...  
Keyword(s):  
Business Model ◽  
Women Entrepreneurs ◽  
Business Models ◽  
Swot Analysis ◽  
Business Environment ◽  
Sustainable Business ◽  
Women Entrepreneurship ◽  
Four Dimensions ◽  
Entrepreneurial Activities ◽  
The Impact

This study highlights the perception of women entrepreneurs in Romania regarding specific drivers for a sustainable business model. This study uses a SWOT–AHP method to assess the importance of different factors that enforce or create barriers for the success in women entrepreneurial activities. SWOT analysis was conducted based on an extended literature review. An external expert in risk analysis assessed the importance of the SWOT analysis’ four dimensions—criteria. An AHP survey of 10 women entrepreneurs was conducted to evaluate the impact of each identified factor in sustaining or discouraging the success of their sustainable business model (SBM). The main results of the study present practical implications useful for designing a gender-balanced business environment. In the final part, the paper discusses women’s preference for the sustainable business model, the perceived importance of gender-related stereotypes for the development of sustainable business models, and the relevance of the new digital economy trend to Romanian women entrepreneurship.

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