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Business Models of Companies: From Profit to Sustainable Development and Value Creation

Author

Listed:
  • Yevgeniya V. NEKHODA

    (National Research Tomsk State University)

  • Natalia A. REDCHIKOVA

    (National Research Tomsk State University)

  • Natalia A. TYULENEVA

    (National Research Tomsk State University)

Abstract

The article discusses the evolution of companies’ business models, outlines the reasons behind the increase in the research interest in business models and generalizes traditional approaches to their interpretation. The authors systematize the stages of business models’ evolution considered in the context of transformation of value chain under the influence of a number of objective driving forces and development of managerial concepts. The research methodology includes such concepts and theories as Corporate Social Responsibility, Sustainable Development and Stakeholder Theory, Creating Shared Values and Integrated Reporting that have significantly influenced the process of value creation. The paper proves that companies’ business models should mirror not only increment of value for shareholders and creation of customer value, but also movement of a company towards creating shared values equally beneficial to business and society as a whole. The information base of the study is an analysis of integrated reporting of the State Atomic Energy Corporation Rosatom for several years. We conclude that the company is moving towards creating shared values which are able to encourage its sustainable development in a long run.

Suggested Citation

  • Yevgeniya V. NEKHODA & Natalia A. REDCHIKOVA & Natalia A. TYULENEVA, 2018. "Business Models of Companies: From Profit to Sustainable Development and Value Creation," Upravlenets, Ural State University of Economics, vol. 9(4), pages 9-19, August.
    • Handle: RePEc:url:upravl:v:9:y:2018:i:4:p:9-19
    DOI: 10.29141/2073-1019-2018-9-4-2
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    References listed on IDEAS

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    1. repec:hal:wpspec:info:hdl:2441/5l6uh8ogmqildh09h4687h53k is not listed on IDEAS
    2. R. Edward Freeman & S. Ramakrishna Velamuri, 2006. "A New Approach to CSR: Company Stakeholder Responsibility," Palgrave Macmillan Books, in: Andrew Kakabadse & Mette Morsing (ed.), Corporate Social Responsibility, chapter 1, pages 9-23, Palgrave Macmillan.
    3. Joseph Stiglitz & Amartya K. Sen & Jean-Paul Fitoussi, 2009. "The measurement of economic performance and social progress revisited: Reflections and Overview," SciencePo Working papers Main hal-01069384, HAL.
    4. repec:hal:spmain:info:hdl:2441/5l6uh8ogmqildh09h4687h53k is not listed on IDEAS
    5. Joseph E. Stiglitz & Amartya Sen & Jean-Paul Fitoussi, 2009. "The measurement of economic performance and social progress revisited," Documents de Travail de l'OFCE 2009-33, Observatoire Francais des Conjonctures Economiques (OFCE).
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    Citations

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    Cited by:

    1. Irina N. Tkachenko, 2021. "Rethinking the stakeholder approach to corporate governance amid the coronavirus crisis: From commitment declaration to applied models," Upravlenets, Ural State University of Economics, vol. 12(2), pages 2-16, April.
    2. Marina V. Evseeva, 2020. "Comparative effectiveness of high-tech and medium-tech business models: Key indicators and value sustainability," Upravlenets, Ural State University of Economics, vol. 11(3), pages 59-71, July.

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    More about this item

    Keywords

    BUSINESS MODEL; SOCIAL RESPONSIBILITY; SUSTAINABLE DEVELOPMENT; STAKEHOLDER; SHARED VALUE; INTEGRATED REPORTING;
    All these keywords.

    JEL classification:

    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • P0 - Political Economy and Comparative Economic Systems - - General
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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