Business Model Innovations are especially valuable in times of globalization and instability when fundamentally new approaches to competition are required. Cultural differences and cultural variety existing in the world, a specific region or society moderated by globalization can provide invaluable opportunities for entrepreneurial managers to build new business models and outperform competitors. This research draws on existing literature on business models as well as national identity scale as a measure of cultural diversity within time and space. It employs case analysis method to propose and illustrate the new approaches and tools. The work suggests a framework for visualizing cultural constructs as a specific component of business models for small and medium enterprises and presents analysis and comparison of the relevant firms` business models. Identifying the place of national identity constructs within a business model, the paper offers managers a different perspective on cultural diversity - as a resource for product or service differentiation and specific customer value proposition, rather than an obstacle for marketers.
|Keywords:||Business Model, National Identity, Cultural Diversity, Globalization|
Programme Director, European Business Studies Programme, Riga International School of Economics and Business Administration, Riga, Latvia