Open AccessBusiness Models for Management and Entrepreneurs as a Tool for Survival and Success
Author(s) -
Ludmiła Walaszczyk,
Sandra M. Dingli
Publication year - 2020
Publication title -
foundations of management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.211
H-Index - 7
eISSN - 2300-5661
pISSN - 2080-7279
DOI - 10.2478/fman-2020-0019
Subject(s) - compendium , erasmus+ , business model , order (exchange) , new business development , business , business management , business plan , competitive advantage , marketing , entrepreneurship , knowledge management , computer science , business administration , finance , art , archaeology , the renaissance , history , art history
The need for survival in today's market drives an increase in the delivery of easy to use ‘just-in-time’ resources that respond to the often-dynamic workplace. Innovative business models are the resources that support entrepreneurs to be more competitive in the market. Based on the research conducted in two European ERASMUS+ projects – Understanding and Developing Business Models – ProBM (2016–2018) and its continuation in the years 2019–2021, the authors discuss the findings on the need for business models to be implemented in enterprises. The paper also includes recommendations for managers and entrepreneurs on what should be considered in order to survive in today's competitive and global marketplace. The authors present the level of awareness of the entrepreneurs in the area of business models and the response to these results in the form of micro-learning. This involves a compendium on business models and bite-sized modules directed towards adult educators in management, start-ups, managers, and entrepreneurs. The insights provided are expected to be valuable to researchers and practitioners interested in the topic of business models.