Abstract
The article presents a new approach to the generation of business models based on value streams. The originality of the study lies in the assumption that in every business model the generator of added value is the value chain which, if original enough, will maximize potential while minimizing costs. This approach will provide the respective enterprise with a high level competitiveness in the long term. The tested group of enterprises consisted of 354 SMEs, one hundred eightyseven of which were from the manufacturing and industry sector, with 167 from the services sector. The novelty of this approach also consists of the integrated approach to the business environment in which the value streams were analyzed. The results suggest that the analysis of value streams is suitable for the projection of business models. In addition, the methods of dimensional reduction and logit regression have been identified as appropriate analytical tools, with representative results found valid and utilizable in business practice. The authors of the article are aware that this is only the first step in addressing this issue, one which will play a critical role in the gradual process of the upcoming digital transformation of all business models, not only those of SMEs in the Czech Republic.
Highlights
There is no agreement among the academic community, and not in the corporate sphere, concerning the definition and understanding of terms such as corporate strategy, business strategy, and business model
The results presented in the paper are based on the assumption that the sample enterprises have a corporate strategy, in many cases identical to the business strategy
It can be concluded that the value chain is suitable for generating a business model
Summary
There is no agreement among the academic community, and not in the corporate sphere, concerning the definition and understanding of terms such as corporate strategy, business strategy, and business model. The research priority of this topic consists of theoretical finalization and practical verification of a business model that uses the principle of generation of process added value for the customer to achieve a margin This is based on a description of business processes, their decomposition in the corporate environment, and subsequent value analysis to identify their contributions to the overall margin. A recent aspect is the analysis of the corporate environment’s integrity, which respects a system approach to the enterprise, i.e. the authors propose an innovative method for the development of a business strategy or business model based on an analysis of value streams in a company with regard to the integral and unique system of the corporate environment. The authors suggest directions for future research activities in this field
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