Transforming the business models of the organization: objectives and key components

Abstract

The relevance of the topic: Modern trends, that determine the development of business and society, lead to rapid changes in technical equipment, technology, marketing, logistics, products and services. In order to cope with the unpredictable consequences of external challenges, it is necessary to transform all the key aspects of the company's activities that make up the business model. These includes strategies, organizational structure, business processes, corporate culture, management functions, and the competencies of managers, leaders, and employees. The problem is that the ever-faster dynamics and risks of the business environment make us see all the components of the organization interact harmoniously in the context of the unpredictable external challenges. In these conditions, the approach used by the successful companies to building business models, as many researchers believe and make reference to, is considered to be a relevant and good example for other organizations aimed at resolving the problem mentioned above. The aim of the research is to study the theoretical and methodological aspects of the meaning of the business model of an organization. Explain why a business model is needed. Consistently outline the issues of building and transforming a model on an innovative basis. Research objectives: to confirm the importance of business models and their transformation in achieving the highest performance; consider the most effective business models used in successful companies, and formulate conclusions on the adaptation of approaches to building and transforming business models in the studied organizations in the context of dynamic changes. Research methods and results: We used empirical methods of interviewing managers and employees of the studied organizations through questionnaires and oral interviews, which made it possible to obtain results related with their willingness and ability to create cross-functional leadership teams in order to develop optimal business models for companies. JEL: M1, M12.