TRANSFORMATION OF BUSINESS MODELS OF COMPANIES: CURRENT CHALLENGES AND PROSPECTS IN THE DIGITAL ECONOMY
Abstract
The article examines the transformation of business models of companies in the context of modern challenges and prospects in the digital economy when the introduction and use of digital technologies become a necessary condition for functioning. The impact of digital transformation on business processes was analyzed, and the change in approaches to the creation, development, and evaluation of business models in the digital environment was described. The approaches of domestic and foreign researchers to this topic were highlighted, including such scientists as O. Osterwalder, Y. Pigneur, Ch. Tucci, M. Porter, G. Hamel, and others. The benefits of a platform business model were highlighted, which is a specific type of business model where a company creates a digital or physical platform that enables interaction between different parties, such as users, sellers, partners, advertisers, or developers. It was emphasized that the main purpose of the platform business model is to unite different participants on one platform, where they can exchange goods, services, and information, or cooperate. Examples of the most famous platform business models were given, such as Airbnb, Amazon, Uber, Upwork, and Google AdSense, and it was emphasized that the application of digital (platform) business models is rapidly replacing the competition between the subjects of economic relations with the competition between business platforms, leaving for the traditional business model only a narrow and market niches. Attention was focused on the classification of digital business models according to P. Timmers and M. Rappa. The influence of digital technologies on the size of the market capitalization of leading companies for the period 2019-2022 was studied and a close connection between the effective digital business model of the company and the level of its competitiveness was revealed. It was concluded that digital transformation is both a challenge for business and a prospect for its development, which helps to create dynamic, flexible, and innovative business models that can respond to changes in the global economic environment and ensure the sustainable development of companies in the digital economy.
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