Reconfiguration of Business Models of Industrial Enterprises: Vectors of Increasing Sustainability in the New Realities

Abstract

The purpose of the article is to study the priority areas of reconfiguration of business models of industrial enterprises to solve the problem of increasing their stability in an unstable economic situation. The paper reveals the essence and structural components of business models. It is proved based on the analysis of literary sources that the business model with the help of narratives, figures, and graphic models describes how the organization creates, delivers, and captures value in the existing context. With this in mind, the key vectors of business model innovation of industrial companies using the potential of Industry 4.0 technologies are identified. First, the possibilities of transforming business models based on the introduction of digital technologies as drivers of transformation (blockchain, Internet of Things, Artificial intelligence, etc.) are justified, and the feasibility of complex application of digital technologies for business model innovation is established. Secondly, the content of the reconfiguration of business models in line with the ecosystem approach and the creation of open digital ecosystems of economic entities in the industrial sphere is revealed. Third, the importance of creating circular business models of industrial companies that reflect the transition from the classical linear model of production to the closed-cycle model is justified. It is determined that together these vectors of reconfiguration of business models of industrial enterprises will ensure the growth of the sustainability of manufacturing companies as a result of the growth of the connectivity of the environment, resource efficiency, and data-driven “smart” management.