Petrenko E.S., Denisov I.V., Koshebaeva G.K., Koroleva A.A.Published in:
Creative Economy
– Volume 13, Number 12 (December 2019)



Keywords: blue ocean concept, business model, entrepreneurship, fixed cost, innovation, strategy


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Abstract:

In the article the analysis of directions of development of the concept of business models is carried out, allowing to investigate significant questions in such perspective areas as strategic management, entrepreneurship management, management of technologies and innovations, sustainable development. In each sphere it is considered, as processes of the added value are formed before wide distribution of business modeling and as an application of this concept helps to define the future directions of activity. In the field of strategic management, the appearance of the business model has allowed showing that the competitive advantage of the company can be based not only on the resource potential, but also on other diverse types of activities, and thus be determined by both supply and demand. By applying the business model to corporate entrepreneurship, it is possible to show that new demand can also be created not only by entrepreneurs but also by clients and other elements of their ecosystems. The article also focuses on the application of business modeling in innovation management and sustainable development. The use of business modeling makes it possible to explore the impact of technological innovation on value creation within the production and consumption ecosystem. In addition, the article notes the importance of the business model for sustainable development, as the business model promotes the integration of social and environmental issues in the strategy and activities of companies and provides a balance between the creation of economic, social and environmental value.

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