ABSTRACT
In the literature, the number of studies on the high-growth enterprises (HGEs) is increasing. It is widely accepted that the HGEs are characterized by an increase in revenues from sales or the employment of more than 20% on average annually over the consecutive three years. From the economic development point of view, HGEs are important, because they create jobs and belong to the group of innovative enterprises. In addition, they quickly react to changes on the market and adapt to its requirements. It is worth to take a closer look at HGEs and, in particular, to know how they build their business models (BMs). The issue of constructing BMs is already quite widespread in theoretical and practical researches. Creating an original business idea obliges to undertake further projects determining the scheme of further functioning of the enterprise. The model outlined with first-order elements is an instrument of value composition.
The main purpose of our research is to identify dominating elements in the BM that are of key importance for the process of HGEs value composition. Empirical research has been carried out on a group of 100 rapidly developing companies in Poland using the method of structural equation modelling. It was tested how individual BM components affect the selected performance measures and which of them are significant for the company value composition. Based on the research, key determinants of value composition in each first-order elements of building BMs of HGEs were pointed out. The chosen concept does not negate the individuality and originality of the BM implemented in a given economic entity, but only refers to the presentation of general solutions and the creation of a broad pattern characterizing the activity of HGEs.
