Business Model as A Key Factor for Commercial Success
DOI:
https://doi.org/10.5377/reice.v10i20.16027Keywords:
Company, Model, Investments, Reengineering, Risk Management, Business ModelAbstract
The world experience of leading companies shows that their successful development and growing efficiency of their activities are impossible without a proper strategy as a set of measures aimed at achieving the goal set. This study is relevant since the activity of any enterprise is connected with risks. In this regard, it is necessary to form and apply business models, which is one of the main factors for the commercial success of a company. Modern business is conducted in a highly competitive environment, therefore making adequate decisions requires a comprehensive assessment of the situation and a reliable forecast of future events. The methods of system and factor analysis, economic and mathematical modeling, grouping, generalization, and evaluation were used throughout the research. The authors determine the basic concepts of the company's business model, identify possible strategic choices, define various types of business models and their specific development, and analyze business models as exemplified by a particular company.
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