Business models as a tool for strategy implementation of small businesses
The article is devoted to the study of approaches to improving the business models of small and medium-sized businesses and analyzing the applicability of business models for an effective system for developing and implementing an organization's strategy. The article provides an overview of the main literary sources on the topic of developing strategies and approaches to creating business models. The mind maps were chosen as research tools as a way to visualize the ideas of the authors' works. Within the framework of the article, three main approaches to the formation and selection of the development business model are considered, the basic patterns are investigated and the algorithms for the formation of models are defined. In addition, modern domestic authors who study the issues of goal-setting and the formation of a strategy for organizing various forms of ownership are investigated. As a result of the comparative analysis, it was revealed that the concept of strategic planning and the concept of forming an organization’s strategy are complementary and make it possible to more clearly formulate criteria for the success of a company’s activities in selected target markets with a dedicated target client. This article may be useful for business practitioners interested in business planning and strategic development of the organization, teachers and students of economic specialties in the areas of management, marketing and entrepreneurship, as well as researchers interested in reviewing modern approaches to business modeling and strategic development. Enterprises of various forms of ownership. The identified features of building business models and their practical use in small and medium-sized enterprises were tested in the course of trainings for entrepreneurs and business men, conducted as part of the Governor's program for training managerial personnel for small and medium businesses.