Abstract
The article presents results of empirical research conducted on companies in the Czech chemical industry, namely CZ NACE 20.1 manufacture of basic chemicals, fertilizers, and plastics. The main goal of the research was to describe novel business models based on sustainable multiple customer value creation. The article’s objective is to present some of the findings from this research to provide an overview of utilized business model elements and characteristics of the industry within the scope of its business models. The original research design combines theoretical concepts of business models, sustainable value creation and multiple customer value to answer the later mentioned research questions. The article states the theoretical background of the research, research design and methods, results, and concludes by stating insights concerning the industry and the respective theory.
Highlights
The scope of sustainability and novel value creation is connected to novel business model conception
The article focuses on searching for novel approaches in business models of the Czech chemical industry which could promote a novel value proposition in the context of sustainability and social responsibility as a result of multiple customer value creation
The results provide an overview of the industry’s business model structures and their characteristics in terms of sustainable multiple customer value creation
Summary
The scope of sustainability and novel value creation is connected to novel business model conception These business models widen the very narrow focus on the economic aspect of value creation by integrating environmental, social aspects into them. Current knowledge in this area points at business model innovation as a means of gaining a competitive advantage through sustainable multiple customer value creation. This is underlined by the rise of novel competitive forces on the global market can disrupt the business models of companies that fail to adapt. The article focuses on searching for novel approaches in business models of the Czech chemical industry which could promote a novel value proposition in the context of sustainability and social responsibility as a result of multiple customer value creation
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