Building value in high-growth enterprises in an uncertain environment

Abstract

Purpose: Our attention was directed to high-growth enterprises (HGEs) whose development is associated with an accelerated cycle of growth and value creation that is a result of the scalability of their business models. The primary research objective of the article is to analyze the value components in the business models of high-growth enterprises divided into three size groups (small, medium, large). We pose the research question: which components build value in HGE enterprises' business models under uncertainty? Design/methodology/approach: An empirical study for HGEs was conducted after the third wave of the pandemic in October 2021 using a survey questionnaire on the sample consisted of a total of 125 Polish companies. The relationships between variables were analyzed using structural equation modelling (SEM) based on the maximum likelihood method. Empirical research in relation to theoretical constructs in business models divided into three size groups of businesses allowed us to notice that only in the case of small enterprises, the creation and delivery of value affect the value proposition. Findings: Empirical research in relation to theoretical constructs in business models divided into three size groups of businesses allowed us to notice that only in the case of small enterprises, the creation and delivery of value affect the value proposition. Exploration of business models of high-growth companies allows for a conclusion that building value in conditions of uncertainty should be based on stable foundations, which are regular customers and key customers, as well as well-proven products/services created under license. Originality/value: The novelty of the paper are conducted researches on business models of HGEs during pandemic Covid-19. Keywords: value proposition, value creation and delivery, value capture, business model, high- growth enterprises, uncertainty. Category of the paper: Research paper.