The present article presents the analysis of a number of relevant sources for a better understanding of the business model concept, its evolution, prior to describing the major trends that affect the theory and practice of the concept. We approach the business model as a simplified description of how a company does business and earns money without having to go into the complex details of all strategies, processes, units, rules, hierarchies, work flows and corresponding systems. For a better conceptual perception of the business model, we considered it important to highlight its components. In this line of thinking, we analyse various opinions on the business model components. Worth mentioning is the fact that business models are constantly evolving as companies react to changes.

The relevance of the study is determined by the role of the leadership and the management team as a whole in ensuring the success of the company. We live in an ever-changing world, and every day brings new challenges for organizations. Organizations are obliged to face these challenges, to demonstrate competitiveness, to adapt permanently to those changes that occur in the external environment. We argue in this study that there are no single recipes. The nature of the change must be adjusted to suit the situation. The last decade has required organizations to transform, in the short term, even their business model in order to survive. The purpose of this paper is to highlight the need to achieve business transformation under the pressure of the internal and external environmental factors in which the company operates. In this sense we set out to analyse what business transformation presents and what is the interdependence with "business improvement", what are the types of business transformations. We argue the important role of leadership in the success of business model transformation. The research is carried out based on the study of the relevant bibliographic sources in the field, as well as the experience in the field of business management of the doctoral student.

The article reflects the results of the study on the creation and operation of sustainable business models. Today, every company has to think about the social and economic issues related to its activities: the scarcity of natural resources, the ethical management of the supply chain, the well-being of the staff, the rational use of energy, the management of waste. The concept of sustainable business model describes how an organization creates, delivers and captures value in economic, social and environmental contexts. We analyzed how sustainable business models are defined and why it is necessary to develop them, what are the differences between a traditional model and a sustainable one, how can we transform a traditional model into a sustainable one. Another topic developed in this article refers to the study of recent developments in the field, such as the circular economy and the development of business models in the circular economy. We also tried to answer the question: how compatible are the three components of a sustainable business model: economic, social and environmental.