Transformation of an Industrial Enterprise's Business Model at Different Stages of the Life Cycle

The current study is aimed at identifying the specific features of structural elements and interaction mechanisms in business models of industrial enterprises at various stages of the life cycle. In the paper the compulsory elements of a firm's business models are specified. The novelty of the research lies in choosing the object of the analysis, i.e. traditional enterprises of the heavy industry that suffer from the lack of strategic flexibility but are forced to adopt new business models under the conditions of market turbulence. In the paper this aspect is examined through the prism of transformation of business models of industrial enterprises at different stages of the life cycle. The authors have come to the conclusion that effective strategic changes in business architecture are possible if, when creating customer value, an industrial enterprise is treated as a participant of the platform technology. Clarification of the economic essence of the platform technology has allowed the authors to propose a general scheme of a business model of a traditional enterprise of the heavy industry.