Change of International Business Models during Covid-19

Abstract

In this chapter, we discuss how Covid-19 impacts firms’ business models in the international context and how firms should aim toward business models built on network trust, cost cutting, and automation to maximize resilience and provide better chances to survive these challenging times. We apply a business model framework that divides business models into five elements including Product/Service, Value Constellation, Finance Structure, Information Flow, and Decision Making Structure. We argue that some elements of a business model may have strong impact on how other elements change in international business models. Businesses may use these ideas to create or avoid changes to their business models.