Development of a social-oriented inclusive business model for strategic enterprise renewal

Anna Kramarenko () and Anton Kvitka
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Anna Kramarenko: V. N. Karazin Kharkiv National University
Anton Kvitka: Kauno kolegija Higher Education Institution

Eastern-European Journal of Enterprise Technologies, 2023, vol. 6, issue 13 (126), 6-14

Abstract: Research object is a business model of enterprises’ strategic renewal in the areas of economy, environmental friendliness, and sociality. Key problem: the need to develop a business model for strategic renewal of enterprises, maximally adapted to the current challenges of the market and society. Based on the prerequisites for the evolution of traditional corporate strategies to a stakeholder approach, a business model for strategic enterprise renewal has been formed. The relative nature of companies’ business activity, transformation of analysis methods and approaches to decision-making, as well as key elements, vectors, and results of interaction within the developed business model are determined and justified. The possibilities of practical application of a social-oriented inclusive business model in the implementation of business analysis are shown. Interpretation of the research results: the social-oriented business model of enterprises’ strategic renewal is developed on the basis of systematization of the relative approach, theories of stakeholders and corporate philanthropy, the concept of "charitable corporation" and orientation to socially inclusive value instead of traditional shareholder value. Along with the traditional economic aspect of the business model, the environmental and social aspects are outlined. To adapt business models of enterprises to modern challenges, it is proposed to increase the use of qualitative analysis parameters in the implementation of strategic decisions, as well as to design the development of relations with key stakeholders. Practical significance: Certain parameters of the business model can be used by enterprises to conduct a critical analysis of their own business strategies and develop effective measures to adapt them to modern challenges

Keywords: corporate philanthropy; stakeholder approach; socially inclusive value; charitable corporation (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:baq:jetart:v:6:y:2023:i:13:p:6-14

DOI: 10.15587/1729-4061.2023.292500

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