BUSINESS MODELING IN THE MANAGEMENT OF ENTREPRENEURSHIP BIOECONOMIC TRANSFORMATION

Abstract

In the last decade bioeconomy, as a concept based on the use of ecologically clean technologies to mitigate climate change by abandoning the use of fossil resources, has attracted significant interest in both scientific circles and the business environment. Despite this, research related to the practical implementation of this concept and the development of relevant bioeconomic business models is still rare. The development of an effective business model for the implementation of new biotechnological solutions is crucial for its commercialization and implementation in the real sector of the economy and therefore has a crucial role in managing the bioeconomic transformation at the micro level. Bioeconomy, as a complex system, has a number of features, such as the multidisciplinary of the necessary knowledge, the fragmentation of legislative support, and the innovativeness, which form an environment of uncertainty in the development of bioeconomic business models. Considering this, the main goal of this work is the conceptualization of the bioeconomic business model development. Based on the conducted research and classification of scientific approaches and existing scientific researches, and in accordance with the definition of the most significant problems and their possible slowing solutions, we have provided three conceptual approaches in management and defined three bioeconomic business model types: production of bio-substitute products, production of innovative bio-products and new bio-economic services providing. Such a conceptual vision of the bioeconomic business model types will contribute to the delivery of a clearer agenda for further research, as well as to the managing processes improvement of the bioeconomic business model development and enterprises strategic planning in the context of challenges characteristic of bioeconomic transformation.