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Innovative Business Models A Factor For Competitive Advantage Of The Companies

Author

Listed:
  • Aleksandra Stoilkovska

    (University of Tourism and Management in Skopje, Macedonia)

  • Natasha Ristovska

    (University of Tourism and Management in Skopje, Macedonia)

  • Sashko Gramatnikovski

    (University of Tourism and Management in Skopje, Macedonia)

Abstract

In contemporary dynamic conditions of functioning of the companies, innovativeness is a key characteristic which can enable a competitive advantage for them. Innovations mean development of new products or services, new technologies and processes, new markets, new innovative business models by supplying incremental innovations, new or different benefits from the application of the existing assortment of products and services, i.e. creating an offer of values for the consumers in a new and unconventional way. This paper presents an action research in which the current state for business climate in the Republic of Macedonia is presented; also the work of the most successful companies in the country of 2012 is promoted. The competitive advantages of the Macedonian companies and the possibility, the need for their upgrading and its use for enlargement and development of businesses are analyzed. The question concerning the level of innovativeness and creativity of the Macedonian companies is posed, as well as the application and need of encouraging innovative practices, designing innovative business models and their successful implementation in terms of creating and maintaining the competitive advantage and securing a continuous development of the companies. A hypothesis is being set in this research which connects the innovative business models with the competitive advantage of companies. The supposition has been fully proved with the results from the research.

Suggested Citation

  • Aleksandra Stoilkovska & Natasha Ristovska & Sashko Gramatnikovski, 2015. "Innovative Business Models A Factor For Competitive Advantage Of The Companies," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 6(1), pages 135-146.
    • Handle: RePEc:ris:utmsje:0143
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    File URL: http://utmsjoe.mk/files/Vol.%206%20No.%201/6-1-11-UTMS_Journal_of_Economics.pdf
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    References listed on IDEAS

    as
    1. Russell W. Coff, 1999. "When Competitive Advantage Doesn't Lead to Performance: The Resource-Based View and Stakeholder Bargaining Power," Organization Science, INFORMS, vol. 10(2), pages 119-133, April.
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    Cited by:

    1. Izabela Luiza Pop & Rada Florina Hahn & Corina Michaela Radulescu, 2018. "Sustainable Development As A Source Of Competitive Advantage:An Empirical Research Study In Museums," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 9(1), pages 73-83.

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    More about this item

    Keywords

    innovations; business model; research and development; competitive advantage; profitability;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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