Received: 2021-01-10  |  Accepted: 2021-03-25  |  Published: 2021-06-30

Title

Factors influencing companies’ positive financial performance in digital age: a meta-analysis.


Abstract

The article summarizes the factors that affect the company's positive financial results in the changing business environment in the digital age. Upon the qualitative and quantitative analysis of the literature, 33 dominant financial and nonfinancial factors were selected, which the authors emphasized as important for the development of a sustainable, profitable business. To assess the practical impact of the selected factors on the company's profit generation, the data were grouped and interpreted through the prism of the Universal Business Model (BM), applying it either to BM as a whole or to its dimensions - the value proposition dimension, the value creation dimension and the value capture dimension. At the end of the article, empirical examples were considered, specifically, the digital transformation of the business model of two companies under the influence of modern supporting drivers. Both examples indicate that a successful BM transformation can only be achieved by transforming all related components of the BM dimension into their interaction. By collecting and accumulating this information, a profit management model can be developed to support companies in a rapidly changing environment, especially in the small and medium business sector.


Keywords

business ecosystem, business model, digital platforms, digital transformation, disruptive innovation, pricing strategies, profitable business model, service-dominant logic, service platform


JEL classifications

G30 , O30


URI

http://jssidoi.org/jesi/article/823


DOI


Pages

291-311


Funding

This research is conducted within the National Research Program “reCOVery-LV’, VPP-COVID-2020/1-0010

This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Kasperovica, Ludmila
Riga Technical University, Riga, Latvia http://www.rtu.lv
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Lace, Natalja
Riga Technical University, Riga, Latvia http://www.rtu.lv
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Journal title

Entrepreneurship and Sustainability Issues

Volume

8


Number

4


Issue date

June 2021


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

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References