π-Economy (Aug 2024)
Features of business modeling in innovative industries
Abstract
he main publications related to business modeling appeared at the turn of the century. They focused on establishing connections between ways of doing business and sources of income. The expansion of such sources, caused, in particular, by the emergence of new information technologies, required a revision of approaches to all business processes – primary and auxiliary. In addition to the modification of traditional industries, new ones based on innovative technologies began to develop actively. Business modeling allowed startup founders to look at a nascent business as a whole, taking into account and coordinating its main elements. Now, many innovative companies, on the example of which business modeling was formed, have become global giants. As a rule, the development of such companies is associated with the fourth technological revolution and is based on information and communication technologies (ICT). However, for some industries, ICT is a supporting element of activity, and the production itself requires the involvement and processing of a large number of material resources, as, for example, for pharmaceuticals. As a result, information and traditional technologies are a complex symbiosis that affects all aspects of doing business. The combination of production and information technologies in various industries forms a variety of successful business models. Nevertheless, their industry differences have not yet been comparatively analyzed. The purpose of the study is to identify both general trends in the transformation of business model elements in innovative companies and their differences. To answer the question about the nature of business models of innovative companies, the article provides reviews the main concepts of such models. Because this approach has gone through several stages and currently there are more than a hundred variants of what the authors call “business model” in the literature, the article proposes approaches to their classification according to such features as the product offered to the market and the monetization model. Based on the classification, the article analyzes the formation and transformation of business models, taking into account the realities of new markets, the specifics of interaction with suppliers, customers, institutional agents, etc. The article is based on the analysis of scientific publications and a statistical review. The analysis is based on the experience of both leading foreign companies and domestic innovative enterprises in such areas as ICT, biotechnology, logistics. It is concluded that some trends are similar, such as expansion of cooperation and the inclusion of new entities from non-core industries in the value chain. It is noted that some industries are still looking for scalable models that would allow all market participants to move to stable business management.
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