The significance of institution in business model reconstruction – two approaches

Abstract

The article presents two approaches of enterprises in the development of strategic actions in conditions of the so called institutional voids. According to type 1, which is typical for traditional enterprises, a change is regarded as a necessary compromise which is a threat to efficiency. When it comes to type 2, institutional voids are perceived as indicators for further development. Creative approach towards structural constraints of the setting translates into institutional innovation which may be the basis for strategic efficiency of enterprises which lack traditional sources of competitive advantage.