ABSTRACT
The concept of business models is developing both in the context of theoretical research into new business formulas and in the context of their impact on the existing ways of delivering value. Changes in business models may be evolutionary, revolutionary, and adaptive in their nature. An adaptation of business models serves the purpose of improving the competitiveness of enterprises in their life cycles. Business model evolution constitutes a sequence of gradual changes that introduce new functionalities to the model, or change or eliminate the existing ones. Adaptation is a process in which the management of a company actively adapts the internal and/or external system of operations and relations of the business model to the changing environment. Revolutionary changes in business models, in turn, can be understood as a thorough restructuring of the existing principles of the creation of value and its delivery. The key principles on the basis of which the business model has operated so far are reconfigured and altered. So-called dynamic business models create a new cognitive concept of the process of an ontological change in the management of the object, i.e. business models. The aim of this chapter is to indicate theoretical implications for the management of changes in business models from the perspective of evolutionary, revolutionary, and adaptive changes. The authors point to the problems of the dynamic adaptation of business models to contemporary market conditions. They also draw attention to the issue of the digital transformation of business models and new adaptation trends that occur among modern enterprises to ensure continuous and sustainable operations on changing global markets.
