5 The concept of Business Model 4.0
Business model – theoretical approach
The issue of building business models is of great scientific and research interest. The term business model
was first used in 1960 by M. Jones to reflect the interaction between universities and business. More attention was paid to business models only after 1995. This was correlated with the proliferation of the Internet around the world in the context of identifying the growing profitability reserves of companies through the implementation of Internet technologies in their operations to create value for the consumer (Zott et al., 2011). The most commonly cited elements of the business model include the company’s position in the value chain, ...
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