The concept “Business modeling” has become commonplace in everyday business due to the rapidly changing market situation, fierce competition and digital transformation trend that affects every business. Other player can appear unexpectedly and bring a new business model to the market, typically fueled by innovative technologies and ideas, and render everyone else obsolete. To remain successful shifting of business environment is required as well as an updated management capability not only to modernize processes, but also to select, empower and appreciate workforce. One of the key roles in any business organization plays the Chief Financial Officer (CFO) that contributes and determines the wellbeing of the business. The role has become more important because of the new technological influence and therefore is more needed by business organizations. This paper aims to formulate requirements for CFO for companies that are going to establish a new business model or to reinvent the existing one. The result of this paper forms the basis for conclusions about the role of the CFO while modelling business, contribution to the modelling success and about requirements that the CFO has to meet.

Research background: Cross-border activities for FinTech companies in several markets bring them completely new opportunities and drive the appetite for new deals, but the complexity of doing business internationally is often underestimated: many risks, which have an influence of business models, can be determined. The emphasis of this research is on those risks that can be brought into particularly correlation with the cross-border activities of a FinTech company and at the same time influence the whole business activity of it. Purpose of the article: The aim of this research is to find out what kind of risks corresponds to so called cross-border risk-group and is the most common for internationally designed FinTech business models. Additionally, to determine those business model areas, which are influenced by cross-border risks the most and must be created with focus on avoiding, mitigating or sharing these risks. Methods: To achieve the goal the authors interviewed representatives of different FinTech companies. In these interviews, experts were asked to describe the most significant risks and to assess the importance of them for each business model dimension by using the Likert’s scale as well as to explain the dependencies and the consequences of their influence on different business model areas. Findings & Value added: The result of this research forms the basis for conclusions about the most significant cross-border risks and their impact on dimensions of a business model as well as makes recommendations possible for those FinTech-enthusiasts who are going to model their FinTech business internationally.

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Research background: The impact of globalization in the 21st century is increasingly bringing change in the world’s political, economic, social and technological processes. It has become much easier to get information about relevant events across the borders, which lead to the visibility and accessibility of international business environment. International organizations promote and encourage small countries in the same manner as large ones in order to integrate them into the world’s economic development. As a result, most countries become partners and benefit through this globalization process which can be seen as a triggering factor for a successful cross-border trade. Purpose of the article: This paper aims to analyse the impact of Trade Promotion Organizations (TPO) on business in Latvia and its usefulness for export activities as well as contribution of TPO program to GDP growth in Latvia in the period from 2004 to 2019. Methods: In this research authors have used a case study method and analysed the experience of TPO in the global trade environment. Secondary data were obtained from statistical databases and research literature; regulations of international organizations in relevant countries - from publicly available sources. Findings & Value added: Results of this research indicate that organizations which promote and support Latvian export positively influence activities and high-quality cooperation with exporting companies and entrepreneurs who want to trade abroad. At the end of the research, the authors summarize their findings about TPO’s support activities to exporters in Latvia and other countries.

The Internet and technological possibilities trigger significant changes in the business environment and force companies to reconsider their use of new technologies. The decision to use new technologies makes it possible to open new market segments as well as to expand the business beyond one country's borders. This trend brings new business potential, but at the same time it involves new risks, which must be qualitatively and timely managed to ensure the sustainability of the business model. Business modelling is an excellent tool which entrepreneurs can use in order to adapt their activities to a new market challenges and predict the consequences as well as improve their management skills for risk assessment. The aim of this research is to find out what and how macroeconomic factors affect business modelling of the financial technology (FinTech) at both industry and company level. In this research the authors used a continuous comparative analysis method as well as content analysis method (Martinsone et al, 2016). In interviews, experts were asked to assess the significance of specific macroeconomic factors by using the Likert scale. As a result of the research, the difference of the influence as well as their dependencies and modifications on different levels of business modelling was determined. This result forms the basis for conclusions about the most important impact factors, the areas of their influence and possible consequences that affect business modelling at both industry and company level.