INNOVATIVE BUSINESS MODEL FOR FOOD INDUSTRY ENTERPRISES OPERATING IN CONDITIONS OF GLOBAL DESTRUCTIVE PROCESSES IN THE ECONOMY

Keywords: innovation, risk, economic crisis, crisis management, strategy, adaptation, economic stability, business model

Abstract

This research presents the development of strategic management foundations and crisis management mechanisms within the entrepreneurial structures of the food industry, including methods for overcoming crisis phenomena and ways of adapting to changing market conditions. This involves examining the impact of economic crises on entrepreneurial activity and developing effective anti-crisis management strategies that contribute to the preservation and development of economic stability under new conditions, taking into account innovative approaches in the economy. The study aims to identify key elements that should be integrated into business models to enhance their resilience to external shocks and market environment changes. Special attention is given to analyzing the role of innovation, digital transformation, and social responsibility in forming sustainable and adaptive business strategies capable of withstanding the challenges of global economic instability. An important aspect is the examination of enterprise behavior in response to potential types of threats to its economic activity, the risk of which increases during economic crisis periods. The process of implementing effective crisis management methods for food industry enterprises, facilitating early detection and neutralization of potential risks, is considered as a key factor in maintaining operational flexibility and strategic adaptability. This provides enterprises with the necessary foundation for making timely decisions, preventing losses, and seizing new market opportunities, which in turn contributes to strengthening their competitive positions in the long-term perspective. The implementation of these methods forms the basis for constructing an innovative business model for the operation of food industry enterprises in conditions of global destructive processes in the economy, taking into account the identification of key elements that should be integrated into the business model to enhance the resilience of the economic activity of the aforementioned entities under these conditions.

References

Nosratabadi, S., Mosavi, A., & Lakner, Z. (2020). Food Supply Chain and Business Model Innovation. Foods, 9, 132. DOI: https://doi.org/10.3390/foods9020132

Naumova, L., Naumova, O., & Naumov, O. (2019). Management of innovative development of the food industry in the context of global environmental and economic challenges. Economic innovations. 21(2(71), 91-101.DOI: https://doi.org/10.31520/ei.2019.21.2(71).91-101

Efimenko, A., Pivovarov, V., & Yerafeyenka, D. (2023). Transformation of mechanisms of sustainable development of food industry enterprises: preconditions for winning the competition by upgrading the business model of the food factory. Agrarian Economics, 1(11), 57-70. DOI: https://doi.org/10.29235/1818-9806-2023-11-57-70

Bigliardi, B., & Galati, F. (2013). Models of adoption of open innovation within the food industry. Trends in Food Science and Technology, 30, 16-26. DOI: https://doi.org/10.1016/J.TIFS.2012.11.001

Zouaghi, F., & Sánchez, M. (2016). Has the global financial crisis had different effects on innovation performance in the agri-food sector by comparison to the rest of the economy?. Trends in Food Science and Technology, 50, 230-242. DOI: https://doi.org/10.1016/J.TIFS.2016.01.014

Misati, R., & Ngoka, K. (2024). Drivers of manufacturing export performance and competitiveness. In Tanzania's Economic Development: A Firm-Level Perspective (pp. 1-256). Oxford: Oxford University Press. Available at: https://books.google.bg/books?hl=en&lr=&id=tCX2EAAAQBAJ&redir_esc=y

Bivona, E., & Cruz, M. (2021). Can business model innovation help SMEs in the food and beverage industry to respond to crises? Findings from a Swiss brewery during COVID-19. British Food Journal, 123(11), 3638-3660 DOI: https://doi.org/10.1108/BFJ-07-2020-0643

Kawane, T., Adu-Gyamfi, B., Cao, Y., & Zhang, Y. (2024). An Adaptation and Resilience Measure for MSMEs amid the COVID-19 Pandemic in Japan: Lessons from the Food Service Industry for Collaborative Future. Sustainability, 16(4), 1550. DOI https://doi.org/10.3390/su16041550

Tell, J., Hoveskog, M., Ulvenblad, P., Ulvenblad, P., Barth, H., & Ståhl, J. (2016). Business Model Innovation in the Agri-food Sector. International Journal of Social Ecology and Sustainable Development (IJSESD), 7(2), 1-13. DOI: https://doi.org/10.4018/IJSESD.201604010

Kacicka, G. (2023). Adaptive risk management in food industry enterprises: integration of strategies and innovations in an environment of economic instability. International Interdisciplinary Scientific Journal "Expert", 1(1), 73-88. DOI: https://doi.org/10.62034/2815-5300/2023-v1-i1-006

Article views: 165
PDF Downloads: 75
Published
2024-02-29
How to Cite
Kacicka, G. (2024). INNOVATIVE BUSINESS MODEL FOR FOOD INDUSTRY ENTERPRISES OPERATING IN CONDITIONS OF GLOBAL DESTRUCTIVE PROCESSES IN THE ECONOMY. Kyiv Economic Scientific Journal, (4), 98-107. https://doi.org/10.32782/2786-765X/2024-4-14
Section
SCIENTIFIC ARTICLES