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An Approach for Creating Business Model for Using Virtual Tools in Startup Companies

Author

Listed:
  • Pavel Petrov

    (University of Economics - Varna, Varna, Bulgaria)

  • Svetoslav Ivanov

    (University of Economics - Varna, Varna, Bulgaria)

  • Volodymyr Petrivskyi

    (Taras Shevchenko National University of Kyiv, Kyiv, Ukraine)

Abstract

The forms of business organizations follow some steady trends driven by tendencies like the rapid development of IT and the transition of information systems. The application of virtualization and the use of virtual tools by start-up companies are discussed. The article reviews the phases of the business model and software product development. The activities in them are grouped and sample tools for each is listed. Also, the modern form of organization as the virtual office and corporation are reviewed as becoming necessary. In detail, the startup company is reviewed in the form of a virtual corporation with its characteristics. They are classified and areas of application and management issues are discussed. Finally, the coverage of activities with virtual tools is evaluated and summarized.

Suggested Citation

  • Pavel Petrov & Svetoslav Ivanov & Volodymyr Petrivskyi, 2020. "An Approach for Creating Business Model for Using Virtual Tools in Startup Companies," Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, Union of Scientists - Varna, Economic Sciences Section, vol. 9(3), pages 19-26, December.
    • Handle: RePEc:vra:journl:v:9:y:2020:i:3:p:19-26
    DOI: 10.36997/IJUSV-ESS/2020.9.3.19
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    References listed on IDEAS

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    1. Pavel Petrov & Nikolay Valov, 2019. "Strategic and Tactical Problems in Fintech and E-business Companies," Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, Union of Scientists - Varna, Economic Sciences Section, vol. 8(3), pages 55-61, December.
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      More about this item

      Keywords

      business organization; startup; virtualization; virtual corporation;
      All these keywords.

      JEL classification:

      • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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