Transformation of Business Models in the Paradigm of Post-Crisis Recovery of the Economics

Abstract

The article deals with topical issues of business model transformation. It was argued that in the context of the post-crisis economic recovery, classical approaches to business planning have lost their relevance and have been replaced by business models as logical descriptions of how an enterprise simultaneously creates and acquires value for the client. The key issues of successful business transformation and the emergence of the latest challenges of socio-economic development were also explored. It was found that unique developments are important in addition to the business model, strategy, clientele. It was also noted that the business models themselves need to be transformed due to changes in consumer behaviour and the emergence of new competitors since business digitalization has facilitated market entry. It was emphasized that key activities should be formed around strong competencies. At the same time, the value proposition dictates the type of communication with the end consumer, because being specific in its essence, it also requires the use of various communication channels. Foreign examples of successful multi-stage rethinking and transformation of the business model are highlighted, which made it possible to improve interaction with customers, better warehousing and transportation logistics, as well as improve the management of technological infrastructure. It was noted that updating business models does not always require the creation of a new market or fundamentally new technologies, since the benefits of transformation can be obtained in an existing market with a range of products or services. It has been proven that the need to implement a new business model arises when sectors of the business canvas need to be updated. The nature of reasonable changes that accompany transformational changes was determined and the main components of a phased rethinking of the business model based on the formation of a value proposition for the client were presented. The typical trends in the implementation of transformations were also presented and the priorities and stages of transformation of the business model of the enterprise were determined.