Last modified: 2022-05-11
Abstract
The main aim of this paper is to analyze the effect of digital transformation on Business models (BMs) of small and medium sized enterprises (SMEs) operating in the manufacturing industry. Pre-pandemic and current state of digital transformation of SME’s BMs is analyzed, using Business Model Canvas (BM Canvas). Survey conducted with eighteen SMEs serves as the base for the analysis, putting emphasis on SMEs BMs development and changes that happened after COVID-19 outbreak. Specifically, how each building block reacted to digital transformation. Findings show that changes in the building blocks are not proportional, with each building block achieving different percentual change of digital transformation, whereas the importance of specific blocks varies in the eyes of companies’ manage-ment.