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

Yevgeniya V. Nekhoda, Natalia A. Redchikova and Natalia A. Tyuleneva
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Yevgeniya V. Nekhoda: National Research Tomsk State University
Natalia A. Redchikova: National Research Tomsk State University
Natalia A. Tyuleneva: National Research Tomsk State University

Upravlenets, 2018, vol. 9, issue 4, 9-19

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.

Keywords: BUSINESS MODEL; SOCIAL RESPONSIBILITY; SUSTAINABLE DEVELOPMENT; STAKEHOLDER; SHARED VALUE; INTEGRATED REPORTING (search for similar items in EconPapers)
JEL-codes: M21 P0 Q01 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/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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