On the Phenomenon of Business Models

Critical analysis of research studies in the field of organization and management shows that there is a growing interest in the phenomenon of business models within the system of strategic management theories. The paper systematizes the theoretical basis of the concept under examination. Having performed content analysis of a wide array of scientific publications, the authors identify seven stages in the evolution of approaches to studying business models. We clarify the evaluation criteria that distinguish the concept of business model from strategy, such as the structural framework, dynamic capabilities, goals, etc. The article proposes the approaches to classifying the analytical construct of business model, i.e. the purpose of creation, the application sphere, the basis for emergence, the way of value transfer, etc. The study clarifies the research program of the business model components, which suggests the mandatory assessment of the six elements: value, business organization, monetization, consumers, resources and the market. Systematization of knowledge in the field of business modelling significantly improve management efficiency and flexibility of companies the short run. The most promising areas for future research are further development of typologies of business models, analysis of their dynamic capabilities and effects of their functioning.