INNOVATIVE BUSINESS MODELS A FACTOR FOR COMPETITIVE ADVANTAGE OF THE COMPANIES

Aleksandra Stoilkovska (), Natasha Ristovska and Sashko Gramatnikovski
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Aleksandra Stoilkovska: University of Tourism and Management in Skopje, Macedonia
Natasha Ristovska: University of Tourism and Management in Skopje, Macedonia
Sashko Gramatnikovski: University of Tourism and Management in Skopje, Macedonia

UTMS Journal of Economics, 2015, vol. 6, issue 1, 135-146

Abstract: In contemporary dynamic conditions of functioning of the companies, innovativeness is a key characteristic which can enable a competitive advantage for them. Innovations mean development of new products or services, new technologies and processes, new markets, new innovative business models by supplying incremental innovations, new or different benefits from the application of the existing assortment of products and services, i.e. creating an offer of values for the consumers in a new and unconventional way. This paper presents an action research in which the current state for business climate in the Republic of Macedonia is presented; also the work of the most successful companies in the country of 2012 is promoted. The competitive advantages of the Macedonian companies and the possibility, the need for their upgrading and its use for enlargement and development of businesses are analyzed. The question concerning the level of innovativeness and creativity of the Macedonian companies is posed, as well as the application and need of encouraging innovative practices, designing innovative business models and their successful implementation in terms of creating and maintaining the competitive advantage and securing a continuous development of the companies. A hypothesis is being set in this research which connects the innovative business models with the competitive advantage of companies. The supposition has been fully proved with the results from the research.

Keywords: innovations; business model; research and development; competitive advantage; profitability (search for similar items in EconPapers)
JEL-codes: M10 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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