Title: Methodology of creating success criteria within the business model for sustainability reasons

Authors: Helena Skadina; Rosita Zvirgzdina

Addresses: Faculty of business administration, Turiba University, Graudu Street 68, LV-1058, Riga, Latvia ' Faculty of business administration, Turiba University, Graudu Street 68, LV-1058, Riga, Latvia

Abstract: A complex business environment, growing intensity of competition and shortening of innovation cycles bring difficulties for management and decision making. If previously companies aimed to ensure the quality of their products, now the creation of value for customers and other stakeholders is becoming the most essential element for the future of a company. Sustainability in the sense of a sustainable business model represent the value creation in the stakeholders' perception. It means that each activity while modelling a business should be checked for sustainability reasons by the company's management. In this way it would be possible to improve controlling mechanisms within the company as well. The aim of this paper is to offer a methodology contributing to creation of success criteria. As a result, there are methods presented which make the development of success criteria for management possible and sustainability controlling for business activities related to time, costs, flexibility and quality.

Keywords: sustainability; business model; business model dimensions; success criteria; time; costs; value; flexibility indicators.

DOI: 10.1504/IJEBR.2021.114383

International Journal of Economics and Business Research, 2021 Vol.21 No.3, pp.360 - 369

Received: 05 Sep 2019
Accepted: 18 Feb 2020
Published online: 20 Apr 2021 *

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