Transformation of business models in the digital economy

Shveda, Nataliia
Krause, Olga

Ternopil Ivan Puluj National Technical University 56 Ruska str., 46001, Ternopil, Ukraine

Shveda N. & Krause O. (2023) Transformation of business models in the digital economy. Socio-Economic Problems and the State (electronic journal), Vol. 28, no. 1, pp. 86-94. URL: http://sepd.tntu.edu.ua/images/stories/pdf/2023/23snmute.pdf

Scientific Journal "Socio-Economic Problems and the State

1(28)

Jun-2023

Apr-2023

2-Aug-2023

Ternopil Ivan Puluj National Technical University 

UA

Ternopil

https://orcid.org/0000-0002-0278-3243

https://orcid.org/0000-0002-0374-2582

https://doi.org/10.33108/sepd2023.01.086

330.33

О10
О14

digitalization
business models
digital platforms
digital technologies
digital business transformation

9

86-94

86

94

The feasibility of digital transformation of business models is proven in the article. It is determined that the process of digital transformation covers all spheres of life: from interaction between people to industrial production, everyone is a consumer of digital technologies - the state, business, citizens. The development of Ukraine’s digital economy involves the creation of market incentives, motivations, formation of demand and needs for the digital technologies use. Digital transformation of business models is considered as optimization of resources using digital technologies. The most popular digital business models, as well as the essence and main advantages of using the digital platform are discussed in the article. Digital platform is the basis of the sharing economy, which is designed mainly for small and medium-sized business and is defined as a combination of horizontal business links and IT platform, where users exchange assets without the participation of major players or corporations. In Ukraine, the sharing economy is represented in several sectors among which transportation, financial sector and the medicine are the main ones. Sharing platforms are essentially the basis for such business models as Access-Over-ownership and On-demand. Access-Over-ownership one is focused on sharing physical things (housing, cars, machinery, equipment). The On-demand model is focused on the consumption of digital content. The e-commerce model, which is one-sided, is highlighted separately. The main types of business models in electronic business are considered, such as: affiliate marketing (clear distribution of responsibilities between the parties for the creation of the product and its advertising); Affinity club (cooperation with associated members and interest groups); Blockchain-based business models (business models based on blockchain technologies); Brokerage (mediation in the implementation of sales operations) etc. The distinctive features of business ecosystems and the main ways of monetizing digital business models are discussed. It is determined that modern digital business models are rarely found in pure form, to improve efficiency and competitiveness companies mostly use combined and modified models. Factors contributing to optimization and transformation of existing and developing new business models ubder digital transformation are identified as well as fundamental differences between traditional business models and digital platforms.

The authors received no direct funding for this research.

http://elartu.tntu.edu.ua/handle/lib/42452

2223-3822

Scientific Journal "Socio-Economic Problems and the State

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Article

Scientific Journal "Socio-Economic Problems and the State", Vol.28, No.1