RUCIAL TENDENCIES IN THE DEVELOPMENT OF INNOVATIVE COMPANIES’ BUSINESS MODELS

Анотація

Modern trends and business conditions indicate that companies need to react extremely quickly to changes in the external environment in order to achieve long-term competitive advantages. Nowadays, designing of an effective business model is one of the options to form the strategic competitive advantages of a company. When business conditions change, innovations provide opportunities to still operate on the market and is a catalyst for the development of entrepreneurial performance.Thereby, the approach, when innovative companies’ development achieves through the transformation of their business models, and not only products or business process systems, is becoming more and more popular. However, innovative development is closely related to unpredictable results of companies’ performance. This fact is a deterrent one in the innovative development of companies. At the same time, the leveling of its influence is possible by identifying key market trends and complying with them. A company that monitors market trends has a much higher chance to offer relevant innovative products, to develop an optimal business processes system and to design an effective business model, improving its main elements by innovations

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