The response of companies to the demands of the environment by transforming the business model

Abstract

The current business environment is characterized by the fact that the lifespan of enterprises is shortening and the speed of change is increasing. Companies are becoming increasingly connected to the external environment and neither age, nor relationships, nor sales volume guarantees that an enterprise will still exist tomorrow. It requires a much greater effort from companies to demonstrate flexibility and agility, to ensure a future in a world full of challenges. Tracking changes and continuously transforming the business model is a solution that would allow companies to cope with increasing competition, take into account changes in consumer preferences, implement emerging technologies, increase sales and ensure sufficient profit to develop the company. The theoretical platform for studying business models is sufficiently developed. This paper examines the results of a quantitative research in order to find answers to such questions as: What are the reasons why companies decide to transform? What specific changes to the business model are most often made by companies in the Republic of Moldova? What benefits has business model transformation brought? What are the most important challenges that companies have faced in business model transformation?