Impact of management toolbox on startups' strategy and business models – research results.

Startups significantly impact global economies through market innovations, often challenging existing paradigms. Typically adopting the blue ocean strategy to acquire customers swiftly, startups face unique management challenges. This study explores the relationship between management approaches, strategies, and business models in startups, addressing a gap in the literature that often focuses on established companies. It aims to identify effective management methods for startups by examining three key questions: – their awareness of strategies and business models, – the correlation between this awareness and the effectiveness of management tools. – the specific tools that align with different levels of awareness. The article consists of four sections: a literature review highlighting the importance of business strategies and models, a detailed research methodology, presentation of research findings, and conclusions with managerial recommendations. The literature review identifies a gap in startup studies, particularly regarding strategy and business model formalization. The methodology employs qualitative and quantitative approaches, including literature reviews, Delphi studies, surveys, and semi-structured interviews. Findings reveal that most startups identify their strategies and business models, though the level of formalization varies. A significant correlation exists between the formalization of strategy and business models and the effectiveness of management tools. The study identifies 44 management methods, techniques, and tools, including SWOT analysis, Business Model Canvas (BMC), and Lean Startup methods. The study concludes that a structured strategy and business model management approach enhances startup efficiency and effectiveness. It highlights the importance of simultaneous management of both elements. However, the research is limited to Polish startups, potentially influencing the results. Future research should extend this study to different geographical contexts and examine the relationship between strategy and startup business models. This research underscores the potential for further studies on management tools and methodologies in the green economy sector, where sustainable ecosystem creation is globally acknowledged. Linking these findings to sustainability can stimulate further examination of strategies and managerial tools in sustainable businesses. [ABSTRACT FROM AUTHOR]