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The Effective Business Model: some Theoretical and Practical Considerations

Author

Listed:
  • Mihaylova Lyudmila

    (University of Ruse “Angel Kanchev”, Bulgaria)

  • Papazov Emil

    (University of National and World Economy – Sofia, Bulgaria)

Abstract

Companies operating in the modern era must continuously adjust their activities in response to the ever-shifting reality of the market. This includes the effects of competition, customer demand for new products and services, and other factors. Under these conditions, it is of utmost importance to analyze the distinctiveness of business models. This study provides an overview of the most important methodological and practical components of business models that are used in the contemporary management of companies. This paper presents an overview of the business model, detailing its fundamental characteristics. It seeks to clarify the interconnections among business models, strategies, tactics, and operations in business development management. Finally, the paper focuses on factors that delineate a successful business model within the competitive landscape of complicated product offerings.

Suggested Citation

  • Mihaylova Lyudmila & Papazov Emil, 2024. "The Effective Business Model: some Theoretical and Practical Considerations," Valahian Journal of Economic Studies, Sciendo, vol. 15(2), pages 95-102.
    • Handle: RePEc:vrs:vaecst:v:15:y:2024:i:2:p:95-102:n:1008
    DOI: 10.2478/vjes-2024-0018
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    More about this item

    Keywords

    Business Model; Business Model Context; Business Model Content; Business Model Success;
    All these keywords.

    JEL classification:

    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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