This article provides an overview of research on the formation and development of the business model concept, that has been widely used as a method of management, a tool for planning strategic decisions, and as a mean of communication. Formation and development of the business model concept took place in four main areas. The analysis of the literature on this issue has revealed a significant effect of concept both on the formation company`s competitive advantages and in science of management. In the context of global digitalization of business, the business model serves as a tool to stimulate change in the company, business model is an important component of enterprise digitalization processes, so it is important to deepen the understanding of the relationships and consistency between the components of the business model structure. The paper highlights the heterogeneity of the interpretation of the term "business model" of different authors. The study of the theoretical development of the business model concept were distinguished the main stages of its evolution and investigated the main directions of its development. Are analyzed definitions of the term “business model”, which are based on structural aspects and take account its dynamic nature, includes critical sizes or levels of customers, technologies, business infrastructure and profitability. The main approaches to the formation of the BM structure are considered. In order to represent complex elements BM, given the structure of the integrated business model. The business model is increasingly becoming interdisciplinary construct, studies related to marketing, strategic management, operating system management, etc. Important aspects in the study of the business model concept is to develop new areas of business model analysis associated with the development of appropriate metrics, to assess the current state of BM, determine the number of digital maturity, perform comparative analysis and carry out digital transformation. The author emphasizes that the business model is a conceptual framework in creating and providing value proposition and ensure profitability.