DOI: 10.33917/mic-3.104.2022.57-62

Attentionofacademics, governmentsandcorporationsisbeingdrawntothenecessityfordecreasingtheharmfulimpactofbusinesson theenvironment, solvingsocialissues, enhancingcorporategovernance.The concept andarea of corporate social responsibility have expanded due to the impact of coronavirus infection (COVID-19). This article considers the issues of social responsibility of businesses and value creation from the long-term perspective.

DOI: 10.33917/mic-4.99.2021.63-70

Many companies continue to consider value creation too unilaterally, aiming to maximize short-term financial results and ignoring the influence of a wider set of factors, which determine long-term competitiveness. Recognition of the need for a new paradigm of competitiveness, based on the complex approach, taking into account financial and non-financial goals, already exists among strategic thinkers and successful business-leaders, there are promising elements of the new model emerging in practice. Still for many companies the issues of social responsibility remain optional, dispensable to be included in strategic agenda. Efforts in this direction remain on the periphery, not in the center of managers’ attention. This article considers the relation between social responsibility, competitiveness of a company and value creation.

The article presents the analysis of primary sources on the concepts of business models and business modeling. The mainstream types of approaches to the process of business modeling and their fundamental differences from each other are identified and described. Furthermore, the article describes a situation in which business modeling is used in business practice, such as attracting financial capital and the creation of new activities. In particular, the relationship between necessity for the business modeling with the stages of the emergence and development of the product market is discussed.

Article recalls the history of appearance and development of the “business model” concept since the 50s of the last century. Separately is presented classification of the “business model” concepts existing today among foreign management theorists. Based on the analysis of the comprehension varieties of this term the definition that transmits its fundamental meaning is set forth.