Document / search engine: Handbook on regional and local bio-based economies
Framework project: Bio-based Strategies and Roadmaps for Enhanced Rural and Regional Development in the EU
Short name of the project:
Website link: https://be-rural.eu/wp-content/uploads/2020/07/BE-Rural_D2.5_Handbook.pdf
CORDIS link if relevant:
Coping with today’s challenges and fulfilling the SDGs requires sweeping changes. These changes affect the development of businesses in bioeconomies, too. Resource efficiency and circularity, sustainable economic growth, environmental friendliness and social justice and inclusion are integral to development and establishment of future bioeconomy-related businesses (Karlsson et al. 2018). Business models help to encompass certain elements which must be considered when planning and setting-up a business. A business model is “an abstract conceptual model that represents the business and money earning logic of a company” and further as “a business layer between business strategy and processes” (Osterwalder 2004). Beside the internal forces which define and shape the business model, external forces need to be considered when it comes to the continuous adjustment of business models. Thus, every company is responsible for altering their business model in a changing environment (business model innovation). Nevertheless, it is important to stress, that businesses in the 21st century do not only offer products and services, but also deliver social and environmental values (e.g. inclusiveness or reduction of GHG emissions), which can be important for businesses in a bioeconomy (Fogarassy et al. 2017). Consequently, the type of business model correlates with the value the organization or company wants to create for its customers or users of their products (Stratan 2017). Thus, a business model can be understood as a network of different influencing elements. This means that business models should take a network-centric perspective rather than a single-companycentric perspective. Such network-level business models can potentially unlock new competences, open new markets and promote new innovative and unique value proposition. Innovating a business model can be crucial in making radical improvements including an enhanced creation of environmental, social and economic values (Karlsson et al. 2018).
Countries/regions described/represented: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonian, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Poland, Portugal, Romania, Slovakia, Spain, Sweden, The Netherlands