VSTE
Littera Scripta

ISSN (online): 1805-9112

Open access

Business Models, Strategy and Innovation in the New World of Digitization

Petra Domanižová1*, František Milichovský1, Karel Kuba2

  1. Brno University of Technology, Faculty of Business and Management, Brno, Czechia
  2. Pan-European University, Faculty of Economics and Entrepreneurship, Bratislava, Slovakia

* Corresponding author: domanizova@vutbr.cz

Abstract

The aim of this article is to specify the business models and their use when companies enter to foreign markets. An integral part of this is the digitization of today´s world, including business models. The purpose of the article is to map the level of knowledge about business models, the impact of digitization on them and how companies to enter specifically German market from business models point of view. The aim of this article is to compare concept of business model as such, its use and access to digitization. By comparing literary revisions, the author will focus on the Canvas business model, which meets the criteria for entering the foreign markets and its structure and uses it as a “winner” among other models. According to results, it is necessary to prepare internal corporate environment in context to digitization, when trades enter to unknown foreign markets.

Keywords:business modelsCanvas business modelLean Canvas business modelforeign marketsinnovationstrategydigitizationIndustry 4.0

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