Partnership-based business modelling as an opportunity in the context of globalisation and as a challenge for business models

Turība University, Faculty of Business Administration, Department of Commerce, 68 Graudu Street, Riga, Latvia

^* Corresponding author: andris.vanags@sakret.lv

Abstract

Research background: Management of the complex reality - transformation to the world of the future- is often associated with discovering new directions in a company’s activities. One of these directions is the formation of beneficial partnerships aimed at working together to achieve certain goals, which in turn relate to necessary changes within the company. Change has become inevitable in every enterprise and phased management of change is becoming a daily component of administration and a part of company’s development: the speed, scale and complexity of change is increasing nowadays, and it is impossible to stop this flow. In this context it is very important to determine to what extent and in what aspects a company needs change.

Purpose of the article: The aim of the research is to investigate what factors could influence and what aspects could be affected by reinventing the existing business model and establishing a new partnership-based business model within a company and what should be done to implement this change successfully.

Research methods: literature analysis, semi-structured interviews and a survey. The research data was processed by continuous comparative analysis, using open coding, level 2 coding, content analysis method. Findings & Value added: the results drawn from this study could provide academics and practitioners with a better understanding of communication and change-readiness capabilities. This knowledge can then be applied to their strategies and management skills for the purpose of achieving partnership-based business model with success.