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NOVEL BUSINESS MODELS IN THE CZECH CHEMICAL INDUSTRY
Abstract
The articles objective is to present the results of empirical research conducted with the aim to study a chosen industry through the lens of its business models. The research approach is based on the theoretical construct of sustainable value creation, business models, and multiple customer value. These theoretical concepts were combined with various approaches to business model research by other authors to answer the stated research questions. In connection to the theoretical construct of sustainable customer value creation, the Czech chemical industry was chosen; namely CZ NACE 20.1 manufacture of basic chemicals, fertilizers, and plastics; due to its specific context, capital intensity character, numerous audits, and heavy national and European regulation. These factors influence the industry's business models and pose pressure and restraints for diversification to answer customers' environmental and social expectations. Hence, the article presents an overview of the utilized business models in the industry, compares them, and organizes them into a majority and minority business model, and clusters to identify specific trends.
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