Exploring A Business Model And Its Practical Implementation Based On Case Study

Abstract

Changes in the external environment and the digital transformation of the business lead to changes in companies’ business models. However there is still insufficient attention to studying the business models of existing successful companies and the processes of their formation and updating despite the significant increase of interest to the business models within the academic and practical environment. The ideas of management practitioners about existing business models are often fragmented and can vary significantly, which makes it difficult to use the business model as a modern conceptual and analytical tool for the strategy. The methodological basis of the study includes the business model concept, case study design and also strategic, process and situational approaches. Based on the testing of the integrative framework, our study provides a holistic view of the business model. We have studied the key business model characteristics through the case study of an existing successful Russian company operating in the building materials market. The paper presents the results of the company's business model analysis and the processes of its updating based on innovations. The paper is practice-oriented. The results obtained in our research can be useful for management practices in the field of strategic management, and for modern business education in to build managers' strategic thinking skills.