New Business Models Based on Multiple Value Creation for the Customer: A Case Study in the Chemical Industry

sustainability Article New Business Models Based on Multiple Value Creation for the Customer: A Case Study in the Chemical Industry Iveta Šimberová* and Peter Kita Institute of Management, Faculty of Business and Management, Brno University of Technology, Kolejni 2906/4, 61200 Brno, Czech Republic; [email protected].cz *Correspondence: simber[email protected].cz Received: 14 April 2020; Accepted: 8 May 2020; Published: 11 May 2020   Abstract: The paper’s objective is to describe business models currently used in terms of sustainable multiple customer creation in the chemical industry in the Czech Republic, namely Section 20.1 in the CZ NACE (Classification of Economic Activities). The business models are described through a specified set of business model elements, which correspond with the presented theoretical bodies. The business models are also evaluated and benchmarked based on a custom indicator measuring business model novelty. The theoretical background of the research consists of three theoretical bodies: Sustainability, multiple customer value creation, and new business models. The research stems from the theoretical background and anticipates that the business model development dynamics drives companies to consider the reasons and conditions of their very existence. The Canvas business model serves as a visualization tool, as it is sufficiently comprehensive, analytical, flexible, and general. For this reason, it is appropriate for the research of new business models aimed at multiple value creation in any industry. Owing to the frequency of occurrence of elements in the fields of the canvas business model, it is possible to develop the majority and minority business model design representing the basis of the research. Keywords: sustainable value creation; chemical industry; multiple value; majority business models; minority business models 1. Introduction The current globalisation of markets and constant new social challenges demanding the preservation and strengthening of the competitiveness of corporate groups promote the search for new ways of creating the multiple value for customers. Innovative efforts aimed at creating the new value for customers can be qualified as a new area of innovation that leads to the creation of new business models. The framework within which this value is created is linked to sustainability. New business models within the perspective of sustainability take in synchronisation of a number of values (economic, social, and environmental) and are anchored together with all aspects of the multiple value. Feedback from customers is the foundation for the modification of business models and their further refinement. The issue of new business models and the creation of multiple value for the customer is an extensive and interdisciplinary one. Both these concepts represent new approaches to the interpretation of the concepts of the business model and value, and our analysis of available expert sources has revealed that the issue of new business models, with a focus on the sustainable creation of multiple value for the customer, is a developing area. This is substantiated by a growing number of papers and various research studies on the given topic. The basial issue for further research is the frequency of occurrence of elements in the fields of the canvas business model, and possibility to develop the majority and minority business model design [1]. Sustainability 2020,12, 3932; doi:10.3390/su12093932 www.mdpi.com/journal/sustainability Sustainability 2020,12, 3932 2 of 18 The Context of the Investigated Issue The dynamics of socioeconomic relationships, including changes in the behaviour of individual market entities, result innew formsof theapproachto conceptsand methodsof managingcontemporary concerns in the area of managerial scientific disciplines. In Europe in the second half of the 20th century, these changes relate, first and foremost, to the investigation of the relationships between environmental issues and the effects of the economic system: A shortage of raw materials, the problems of waste management, global warming, and pollution of the air, soil, water, etc. These problems led to the creation of a new context favouring sustainable development in which new models of production and consumption are formed and new business models are developed with the aim of creating multiple value for the customer. The report on trends in sustainable development (Sustainability and Reporting Trends in 2025–Preparing for the Future) drawn up by the international organisation Global Reporting Initiative [ 2 ] emphasises the responsibility of corporate groups in the area of sustainable development [ 2 ]. In addition to environmental issues, sustainable development also takes in the sustainability of economic growth and social cohesion [ 3 ]. The social responsibility of corporate groups represents the voluntary incorporation of social and ecological interests into their business strategy and into the daily activities of these corporate groups and their relationships with stakeholders [4]. We selected the chemical industry, which is a growing branch of industry both in the Czech Republic [ 5 ] and in Europe as a whole, as a suitable area for our research. Globalisation is posing an ever-increasing threat to the position of the European and Czech chemical industry. In order to preserve its competitive position on foreign markets, it should develop activities in two directions [ 6 ]: - Restoring margins by assuring access to energy at competitive prices and adopting measures prioritising investment promoting productivity; - Assuring the transition to sustainable chemicals by means of innovative endeavours (the transition to other sources of energy and the development of plant chemistry represent the principal factors in development). Corporate groups in the chemical industry in the Czech Republic in the group 20.1 according to the CZ NACE classification were selected for the purposes of this research. An assessment of the current state of knowledge shows that it is essential for these corporate groups to assure the attainment of the goal of economic efficiency in line with social justice and protection of the environment [ 7 ]. The given challenges are, at the same time, an incentive for the inception of new requirements of business modelling. The aim of our research project was to respond to the current challenges of sustainable development, in the form of new business models for selected groups of the Czech chemical industry 20.1 according to the CZ NACE classification. 2. Theoretical Background 2.1. Sustainable Innovations Innovations may, in general terms, take various forms, e.g., innovation of a product or process, organisational, technological, or businessinnovation, or changestothe businessmodel. Accordingto [ 8 ], innovations are a mechanism for the creation of value and a vehicle for competitiveness. They demand creativity, a vision, prediction of the future, and entrepreneurial experience. All the given aspects aid the creation of new business models [ 9 ]. The principle of permanent [ 10 ] or intensive innovations follows a hyperactive and mass-operative model. It is characterised by the frequent replacement and purchase of products. For corporate groups, this means producing more products more quickly with the aim of greater consumption [ 11 ]. Nevertheless, this intensive model of consumption has wide-ranging consequences for the environment, as it is accompanied by an increase in the amount of waste and the wastage of limited natural resources and raw materials. This creates a potential tension between the economic and environmental dimensions of the intensive industrial model. The integration of sustainable development into innovative strategies creates the principal benefit for the corporate group. Sustainability 2020,12, 3932 3 of 18 In this regard, [ 12 ] puts forward the concept of sustainable innovation of the business model. This relates to the discovery of a new and improved method for the functioning of the corporate group and the creation of greater value [ 13 ]. Sustainable innovations of the business model are considered crucial to the creation of sustainable business [ 14 ]. Sustainable innovations respond to the challenges of sustainable development and integrate its environmental, social, and economic dimensions into the attributes and functionalities of products and, most importantly, enable the development of new business models in dependence on the branch of industry in which the corporate group conducts its activity and in which it must also respect the legislative aspects of its activity. Sustainable innovations contribute in this way to shaping the reputation and legitimacy of the corporate group [ 15 ], i.e., they demonstrate that its activities do not have a negative impact on the environment and society. Their development is associated with the corporate group’s stakeholders who are a source of information. According to [ 16 ], value is created by corporate groups which work together with internal and external stakeholders within the scope of the corporate group’s value network. The aim of sustainable innovation in the context of sustainable development is the creation of new market opportunities that lead to the development of new business models focusing on multiple value for customers. 2.2. The Concept of A New Business Model A new business model is, then, an innovative business model [ 17 , 18 ] as it relates to a new system of company activities [ 19 ] and an innovative structure of creating and obtaining value [ 20 ] for the corporate group and its alliances with partners and customers [ 21 ]. Amit and Zott [ 22 ] understand networks and alliances as a key framework for innovative business models. Teece [ 23 ] notes that traditional business models solve the task of how to develop, manufacture, and sell a product and receive profit from its development, manufacture, and sale. Developing a new business model, in the broadest terms, does not need to consist of developing a new product or a change in processes or the sources necessary to its production, and in addition, do not necessarily require to be of a technological nature. The desired effects may also be achieved by means of faster processes, the sale of solutions to customers, the provision of accompanying services, co-operation with communities, price incentives for customers, breaking down barriers to the availability of a product, etc. According to [ 9 ], a business model may be considered new if it satisfies two principles: Uniqueness of concept and uniqueness of sales proposition. 2.2.1. Uniqueness of Concept The uniqueness of concept of a new business model consists of the fact that it: • Is focused on long-term sustainability and is, according to the authors Bocken, Short, Rana, and Evans [24], a concept for a sustainable business model; • Is characterised by an environmental, social, and economic dimension [ 24 ], which is the result of the environmental awareness of corporate group, which thereby create the possibility of unique ways of doing business. In this respect, it is a concept for a socially responsible model [25]; • Is associated with innovation. In this regard, it is a concept for innovative business models [ 26 – 28 ]. The concept of sustainability plays an important basic role in the formulation of a corporate group’s strategic vision and its decision-making [ 29 , 30 ]. It is a strategic turning point for a large number of corporate groups in that it brings purpose to socially responsible enterprise [ 31 ] and is associated with a culture of innovation, unceasing improvement, and a set of moral principles and standards that guide behaviour in the sphere of enterprise [ 32 ]. The creation of merely economic value cannot be sustainable for a corporate group ignoring the environmental and social setting in which it performs its activity. A new business model in the context of sustainability is the result of strategic thinking and an operative scheme for improved business [ 33 ]. Description of this scheme emphasises the uniqueness of the activity of the corporate group. It considers the relationship between its strategic vision and operative activities in view of the fact that it directly integrates the environmental, social, and economic Sustainability 2020,12, 3932 4 of 18 aspect of sustainable development into its strategic and operative approach. The creation of multiple value is the basis of this approach. 2.2.2. Uniqueness of Sales Proposition The acquisition of a positive economic effect on the basis of sales is based on the use of a unique selling proposition, which means a description of how a specific product differs from competitor products in terms of its environmental, social, and economic effect in order for the customer to decide to buy it. The products themselves that a corporate group offers may help sustainability to only a limited extent unless they give consideration to a broader set of questions, including the social interests of stakeholders, questions of human rights, and the preservation of sources, etc. [ 34 ]. Richardson [ 35 ] proposes conceiving a new business model from a broader perspective: Firstly, not merely for customers and corporate groups, but also for all interest groups (suppliers, end users, shareholders, governments, and partners), and secondly, value is related not merely to its economic expression, but also incorporates environmental and social value. The value supply may be considered an expression of the corporate group’s social and environmental responsibility. 2.3. Multiple Value The qualification of the concept of multiple value is the result of an understanding of the set of definitions and the value theory that are specific for each area of management [ 36 ]. The approach based on value for the customer is of interest, first and foremost, to marketing [ 37 ]. Socially responsible products are designed for recipients who are not merely external, but also internal, customers. Vlˇcek [ 38 ] emphasises the fact that economic entities are, in their real form, an extensive network of mutually interconnected and interrelated processes with internal and external products creating a source of value for internal and external customers. Value is characterised by multiplicity by the fact that it is associated with environmental and social aspects. This multiplicity, with which the given concept is associated, follows from Bergson’s philosophy [ 39 ]. It denotes the structure created on the basis of the conjunctive synthesis of individual specific elements. It is a mutual operation: Symbiosis and sympathy. It relates to the participation of stakeholders in the creation of multiple value, which represents a new approach to the value that the corporate group offers. Social and environmental values are in accordance with contemporary requirements of producing and commercialising socially responsible products [ 40 ] that respect the collective interests of society. A shift is being seen from the concept of the product to the concept of the supply of solutions on the basis of a corporate group’s network interconnection [ 41 ] with other stakeholders (suppliers, customers, not-for-profit organisations, etc.). Continual multiplicity enables a better understanding of the nature of value creation, which is a concept that lies at the very heart of marketing [39]. The concept of multiple value results from adaptation of the dimensions of sustainable development (environmental, social, and economic) and the concept of value. It expresses a new corporate approach to value that is open to customer thinking in the context of sustainable development and that incorporates: • The perceived benefit of a product with a differing period of consumption from the viewpoint of its use, competitive advantages, and the possibilities of differentiation by external and internal customers; • The innovative dimension associated with the provision of services, the production process. and distribution making faster production and distribution possible at lower cost, while respecting environmental and social aspects; • The process of co-operation during its creation within the framework of a system of multiple interactions of interest groups in a company value network and the co-creation of unique value with the customer; • The challenge for the manufacturer of ensuring their development at a profit, while concurrently respecting the costly requirements of sustainable development. Sustainability 2020,12, 3932 5 of 18 According to the academic literature, the interest of corporate groups is becoming focused on the creation of higher value (extraordinary or new value) for the customer, which we understand as multiple value and which is associated with the environmental, social, and economic aspects of supply. The specific interest is an opportunity for stimulation of the sustainable innovation of not merely products and processes, but of business models as well. It follows from the above that the process of innovation goes beyond the bounds of the product itself. If multiple value is to be created for the customer; it is essential to expand the value of the product by innovating associated services and the process of production and distribution making it possible to make and distribute products at lower cost, at greater quality, and at higher speed, while at the same time observing environmental and social aspects. The creation of multiple value [ 42 ] anticipates dialogue with interest groups that reinforce the ability to innovate and defend new sources of multiple value. The alliance of various interest groups within a corporate group evokes their mutual complementation and knowledge sharing with an awareness of the fact that the creation of value for all interest groups is, first and foremost, a matter of creating value for the customer [43]. The particular expert views based on approaches to value emphasise the idea that the resolution of social and environmental issues does not mean a burden on corporate groups but represents an opportunity to improve their business models and increase profitability. 2.4. The Architecture of Multiple Value When we recognise the value that the customer buys and the values that other partners expect, attention must be focused on the method of their creation and delivery. The value architecture is the way in which the corporate group is organised in order to ensure the creation and provision of value supply to end customers on the basis of a portfolio of sources and competences. It is associated not merely with the internal and external value chain, but first and foremost with its value network, i.e., the corporate group’s external stakeholders who help create value and provide it to customers. Its aim within the value chain is to ensure the environmentally and socially effective creation of value. Co-operation between partners in the value chain and the integration of various processes in marketing, distribution, innovation, information systems, etc. have become important factors in achieving customer satisfaction, reducing total costs, and creating the competitive position of various entities in the value chain [44]. The advantages of a sustainability strategy, which are incorporated primarily in a progressive approach (Table 1) [45–47], should be part of the creation of a value chain [48]. Table 1. A differing approach to the value chain from the viewpoint of creation of economic, environmental, and social value. The Traditional Approach The Progressive Approach • The structure of the corporate process is set by the organisation created •The division of functions and responsibilities is crucial, corresponding to the organisational structure •Planned relationships are comprised exclusively of relationships between the corporate group, its suppliers and its customers •The corporate group’s primary activities do not consider the value of natural resources or the value of waste resulting from consumption •Auxiliary activities are not structured so as to promote sustainable strategic management •Functions in a closed economic system without a further external ecosystem •Intensive co-operation between the corporate group’s various departments •Co-operation between corporate groups and other stakeholders creates environmental, social and economic value •The multi-organisational aspect enables the incorporation of creation of multiple value into the enterprise ecosystem •Co-operation between partners is an important factor in achieving customer satisfaction, reducing overall costs and creating the competitive position of various entities in the value chain • Enables the creation of networks of partner corporate groups belonging to a value chain that competes with other value chains •The philosophy of integration of the value chain is based on the idea of orientation to the market and the customer Sustainability 2020,12, 3932 6 of 18 The consequence of this is the end of the traditional independent corporate group that withstands competition from other corporate groups individually, and a shift towards the formation of networks of partner corporate groups belonging to a value chain that competes with other value chains. The philosophy of integration of the value chain is based on the idea of orientation to the market and the customer [ 49 , 50 ]. Every activity in the value chain is directed towards the creation of value for the customer. Figure 1shows the concept of a new business models based sustainable multiple customer value creation and specifies the areas to which it relates. Sustainability 2020, 12, x FOR PEER REVIEW 6 of 17 • Auxiliary activities are not structured so as to promote sustainable strategic management • Functions in a closed economic system without a further external ecosystem • Enables the creation of networks of partner corporate groups belonging to a value chain that competes with other value chains • The philosophy of integration of the value chain is based on the idea of orientation to the market and the customer The consequence of this is the end of the traditional independent corporate group that withstands competition from other corporate groups individually, and a shift towards the formation of networks of partner corporate groups belonging to a value chain that competes with other value chains. The philosophy of integration of the value chain is based on the idea of orientation to the market and the customer [49,50]. Every activity in the value chain is directed towards the creation of value for the customer. Figure 1 shows the concept of a new business models based sustainable multiple customer value creation and specifies the areas to which it relates. Figure 1. New business models focusing on the sustainable creation of multiple value for the customer from a broader perspective. The formation of a value network. A value network makes it possible to gain an idea of the competences of corporate groups that may co-operate in the creation of value, while competing in communicating the value created [51]. According to Christensen and Rosenbloom [52], a value network is the context in which the corporate group competes and resolves the problems of customers. For this reason, it is appropriate to model a value network that incorporates stakeholders that engage the corporate group in the process of creating and providing value on the market. This involves stakeholders who create an expanded value chain from the stage before the drawing up of a product concept until after its distribution. Certain authors associate the concept of the value network with the modularity of products and systems that create the value architecture [53]. 3. Methodology To fulfil the article’s objective, which is to describe business models currently used in terms of sustainable multiple customer creation in the Czech chemical industry, namely Section 20.1 according to CZ NACE, the following research questions have been formulated: • Which business model elements promote sustainable multiple customer value creation? • How to discern the elements which render the business model novel within the context of the industry? • How to gauge the business model novelty? The following paragraphs present the steps taken to answer the first two research questions from the perspective of the methodology used. The third research question will be answered in the results Figure 1. New business models focusing on the sustainable creation of multiple value for the customer from a broader perspective. The formation of a value network. A value network makes it possible to gain an idea of the competences of corporate groups that may co-operate in the creation of value, while competing in communicating the value created [ 51 ]. According to Christensen and Rosenbloom [ 52 ], a value network is the context in which the corporate group competes and resolves the problems of customers. For this reason, it is appropriate to model a value network that incorporates stakeholders that engage the corporate group in the process of creating and providing value on the market. This involves stakeholders who create an expanded value chain from the stage before the drawing up of a product concept until after its distribution. Certain authors associate the concept of the value network with the modularity of products and systems that create the value architecture [53]. 3. Methodology To fulfil the article’s objective, which is to describe business models currently used in terms of sustainable multiple customer creation in the Czech chemical industry, namely Section 20.1 according to CZ NACE, the following research questions have been formulated: •Which business model elements promote sustainable multiple customer value creation? • How to discern the elements which render the business model novel within the context of the industry? •How to gauge the business model novelty? The following paragraphs present the steps taken to answer the first two research questions from the perspective of the methodology used. The third research question will be answered in the results section. The methods, techniques, and tools used include the content analysis, semi-structured interviews, a questionnaire, benchmarking, and the Canvas business model as a visualization tool. Description of the use of the method and techniques: The content analysis was used to compile elements of the business model. The semi-structured interviews were used to assess the representation and importance of individual elements for the examined industry from the basic set of elements Sustainability 2020,12, 3932 7 of 18 obtained. The questionnaire was used to identify the elements of business models of companies in the chemical industry and their customer orientation based on the sustainable creation of multiple value. Benchmarking was used to compare and measure business models of companies (using a weighted mean indicator of the creation of multiple value). The Canvas business model served as a visualisation tool. 3.1. Research Design–Five-Step Approach to Describe New Business Models Based on Creating Sustainable Multiple Customer Value The set of relevant business model elements and novelty evaluation indicator were created through a five step process: (1) Extracting possibly relevant business model elements and their interpretations from the literature; (2) conducting content analysis to limit the initial set to a more manageable one; (3) semi-structured interviews with industry representatives to evaluate relevance; (4) questionnaire design, testing, and distribution; and (5) finding a measure of novelty. 3.2. Step One and Two: Literature Review and Content Analysis Given the abstract nature of the business model construct, which is composed of elements that can have manifold interpretations and representations varying from practitioner to practitioner, the literature research was conducted in all three theoretical fields to provide a standardized set of relevant business model elements. The first result identified 199 elements (Table 2). Table 2. Number of identified business model elements according to various offers. Number of Identified Elements Author Year 11 Hart, S. L. 1995 17 Kumar, S., Malegeant, P. 2006 4 Fowler, S. J., Hope, C. 2007 5 Dubigeon, O. 2009 11 Grandval, S., Ronteau, S. 2011 7 Chanal, V. 2011 18 Sempels, C., Hoffmann, J. 2013 14 Dauchy, D. 2013 40 Demil, B., Lecocq, X., Warnier, V. 2013 6 Rajagopal, R. 2014 56 Chen, Y.T., Chiu, M. 2015 10 Heitel, S., Kämpf-Dern, A., Pfnür, A. 2015 This set was reduced through content analysis to tighten the spread of elements to those present in the industry. The content analysis included company websites, financial reports, annual reports, press releases, press articles, and other publicly accessible materials. The documents were scanned for specific mentions of business elements and causal factors which could indicate their presence. This reduced the initial set to a more manageable set of 53 elements relevant to the industry’s context (Appendix A). 3.3. Step Three and Four: Semi-Structured Interview And Questionnaire Design This set of 53 elements served as a foundation for semi-structured interviews with 9 industry representatives belonging to the companies present in the sample (production managers, commercial managers, and marketing managers). The representatives were asked to first confirm validity of the given elements, second evaluate on a Likert scale the significance to the industry’s context and multiple value creation (1–not significant to 5–very significant). Table 3(in Section 4.1) presents the most significant business model elements arranged according to the 9 fields of the business model canvas [ 54 ] to facilitate the comprehension and representation (Table 3). For the purpose of the research, Sustainability 2020,12, 3932 8 of 18 we modified 2 fields of the business model canvas, switching the fields “customer relationships” and “customer segments” for “stakeholder relationships” and “stakeholders”. Table 3. Reduced set of validated business model elements. Business Model Canvas Field Business Model Element Absolute Frequency Frequency (%) Minority Model Value proposition Multiple product variants on offer 32 84.21 Alternatives to products on offer 17 44.74 X Environmentally friendly products 24 63.16 Related products on offer 16 42.11 X Individual planning 23 60.53 Limiting use of dangerous substances in production 23 60.53 Key partners Suppliers of support services 22 57.89 Local suppliers 16 42.11 X Emphasis on industrial safety 27 71.05 Cooperation with public and non-profit organisations 11 28.95 X Key activities B2B resource sharing 4 10.53 X Commercial support for B2B customers 21 55.26 Using sustainable feedstocks 18 47.37 X Using energy saving equipment 21 55.26 Key resources Centralised waste treatment 25 65.79 Take-back agreement 10 26.32 X Stakeholder relations Consulting 27 71.05 Information and report sharing 23 60.53 X Sharing experience with customers and suppliers 16 42.11 X Research cooperation 18 47.37 X Provision of internships 20 52.63 Channels Online platform 13 34.21 X Cost structure Waste as an energy resource 15 39.47 X Centralised waste treatment 25 65.79 Waste recycling 23 60.53 Financial support and sponsorships 24 63.16 Education fund 5 13.16 X Revenue streams Rental of production facilities and equipment 7 18.42 X Specialised services (R&D) 21 55.26 Complete product-service solutions 3 7.89 X Maintenance 24 63.16 By-products available as energy source or resource 11 28.95 X This secondary set was reduced based on indicated validity, and elements with less than 50% validity were excluded. Thus, based on this final set of 32 elements, a questionnaire was developed and distributed from October 2017 to February 2018. Due to the nature of business model elements (being present or non-present), the questionnaire was designed as a series of 32 closed questions. The questionnaire consisted of two major parts, questions concerning business model elements and questions concerning customers as part of their stakeholders. The questions in the first part of the questionnaire concerned the value offer–comprising 32 elements obtained by the content analysis (verified by structured interviews). They were divided into the following areas, which were specified by individual questions: Types of services provided (4 questions), Diversity of offer (4 questions), Availability of products and services (7 questions), Environment (8 questions), and Social environment (9 questions). Also, other relevant stakeholders were attributed to some questions (e.g., the stakeholder “Universities” was attributed to element “Provision of internships”). This is later represented in Figures 2and 3. Sustainability 2020,12, 3932 9 of 18 Sustainability 2020, 12, x FOR PEER REVIEW 9 of 17 Figure 2. Majority business model construct. Figure 3. Minority business model construct. The questionnaire was mainly aimed at production managers, marketing managers, or commercial managers. Prior to the distribution, the questionnaire was tested using semi-structured interviews with different two practitioners to check for comprehension. The participants were also asked about their comprehension and compared to set definitions of individual elements. The definitions were not provided to the practitioners but served to check the comprehension. The sample comprised medium-sized and large enterprises falling into the CZ NACE group 20.1 manufacture of basic chemicals, fertilizers, and plastics. The companies were found using the Amadeus database and sorted according the following criteria: (1) Active status; (2) having the headquarters or a branch in the Czech Republic; (3) number of employees higher than 75 employees; (4) belonging to the group 20.1 manufacture of basic chemicals, fertilizers, and plastics. The first results indicated a population of 49 companies in total, using the Amadeus database. Following a review, double entries and false entries were eliminated, thus leaving a population of 42 companies. After contacting individual companies when distributing the questionnaire, commercial outlets and wholesalers were almost all eliminated from the population, thus providing a final number of 38 companies. These 38 companies consist of 25 large and 13 medium-sized companies. After contacting all 38 companies represented in the sample, 22 questionnaires were received, representing a 57.89% response rate. 3.4. Step Five: Finding a Measure of Novelty Figure 2. Majority business model construct. Sustainability 2020, 12, x FOR PEER REVIEW 9 of 17 Figure 2. Majority business model construct. Figure 3. Minority business model construct. The questionnaire was mainly aimed at production managers, marketing managers, or commercial managers. Prior to the distribution, the questionnaire was tested using semi-structured interviews with different two practitioners to check for comprehension. The participants were also asked about their comprehension and compared to set definitions of individual elements. The definitions were not provided to the practitioners but served to check the comprehension. The sample comprised medium-sized and large enterprises falling into the CZ NACE group 20.1 manufacture of basic chemicals, fertilizers, and plastics. The companies were found using the Amadeus database and sorted according the following criteria: (1) Active status; (2) having the headquarters or a branch in the Czech Republic; (3) number of employees higher than 75 employees; (4) belonging to the group 20.1 manufacture of basic chemicals, fertilizers, and plastics. The first results indicated a population of 49 companies in total, using the Amadeus database. Following a review, double entries and false entries were eliminated, thus leaving a population of 42 companies. After contacting individual companies when distributing the questionnaire, commercial outlets and wholesalers were almost all eliminated from the population, thus providing a final number of 38 companies. These 38 companies consist of 25 large and 13 medium-sized companies. After contacting all 38 companies represented in the sample, 22 questionnaires were received, representing a 57.89% response rate. 3.4. Step Five: Finding a Measure of Novelty Figure 3. Minority business model construct. The questionnaire was mainly aimed at production managers, marketing managers, or commercial managers. Prior to the distribution, the questionnaire was tested using semi-structured interviews with different two practitioners to check for comprehension. The participants were also asked about their comprehension and compared to set definitions of individual elements. The definitions were not provided to the practitioners but served to check the comprehension. The sample comprised medium-sized and large enterprises falling into the CZ NACE group 20.1 manufacture of basic chemicals, fertilizers, and plastics. The companies were found using the Amadeus database and sorted according the following criteria: (1) Active status; (2) having the headquarters or a branch in the Czech Republic; (3) number of employees higher than 75 employees; (4) belonging to the group 20.1 manufacture of basic chemicals, fertilizers, and plastics. 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