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This paper aims to review and summarize the findings of research dedicated to studying the process of building sustainable business models (BM) triggered by development of COVID-19 pandemic.

Bibliometric analysis is performed to identify the papers most relevant to the topic. The authors review the findings of more than 50 papers from Scopus database published between 2020 and 2022 dedicated to studying BM during COVID-19 pandemic, as well as papers dedicated to sustainability phenomenon and most cited BM research.

The paper identifies the gap in defining BM sustainability and contributes to better understanding of this phenomenon by demarcating it from traditional environment-based United Nations agenda. It also describes why network-based approach to BM helps to better address sustainability aspects. The paper demonstrates how representation of a networked BM by three levels of analysis (namely, structure of a BM, interaction mechanism between BM actors and results of their interaction) is organically connected to the key milestones of the value creation process (value definition, value creation, value distribution and value capture) and shows how these three levels can be used to analyze and structure the practical changes proposed in COVID-19-oriented BM. Finally, the paper summarizes key findings of the studies dedicated to BM during the pandemic and structures key insights in relation to building sustainable BM.

The results of the paper contribute to developing theory around BM sustainability as well as provide insights for business practitioners on how to adjust BM during the crisis. At the same time, many insights shown in the paper are industry specific, which limits their generalizability, as well as consequences of the pandemic are still not fully clear. Therefore, the authors argue that future research should be primarily focused on developing generalizable measurement frameworks to evaluate the antecedents, process and results of BM adaptation.

The paper strengthens theoretical foundations for the research focused on BM sustainability and helps businesses to better manage the adaptation in the fast-changing environment.

The purpose of this paper is to establish a connection between the business model (BM) and B2B marketing research by developing a new approach to the BM analysis and improvement, which is based on inter-organizational networks and value chains.

The methodology is based on mutual enrichment of methods and results of BM and business-to-business marketing studies that are relatively isolated from each other, and on integration of them to the unified structured approach that could be applied to analyze both BM and a set of interfirm relationships of networked market players. This paper is based on extensive literature review in the areas of BM and relationship/industrial marketing. The review is based on most cited and contemporary articles found in the Scopus and EBSCO databases.

This paper formulates the key BM research directions and visualizes their development over time. It is demonstrated in the paper that currently, there is little involvement of marketing researchers in the study of BM; however, there are multiple touchpoints between these areas of knowledge, which can help in further developing BM studies. On the basis of these findings, a conceptual model and new network-based approach to BM analysis is offered, which allows addressing the complex nature of networked interaction among BM participants. The approach includes stepwise algorithm for BM analysis designed for business practitioners.

The proposed approach can be applied by business practitioners to analyze and improve their BM via managing the interactions of inter-organizational network participants with a focus on customer interests. While the approach is of a universal character, the specific tools for evaluating BM on each stage may vary across different markets.

This research contributes to the current conceptual knowledge on BM studies development and their relationship with marketing. It also contributes to theory and practice by the development of a new marketing-based approach to the BM analysis focused on managing business relationships, which allows evaluation of the current state of a BM and provides directions for its improvement. This approach evaluates the alignment of interfirm relationships along the value chain and orients it toward the final consumer.

The purpose of this paper is to construct a system of indicators that will allow firms to evaluate the long‐term results of their marketing activities along the value chain.

The paper integrates the concepts of network relationships, value chain management, and customer lifetime value (CLV). The authors use participative inquiry and case studies to validate and clarify the model.

The authors develop the customer flow conceptual model and propose a sequence of actions to translate it into measures and indicators that will allow firms to understand their role in the creation of sustainable value. Using this model, the authors conduct comparative analyses of the acquisition and retention strategies of a multinational firm in the European and Russian markets. The results provide a crucial justification for new directions in future long‐term marketing activities.

The model is validated in two cases in different industries. Further research is required to examine the implementation of suggested tools in different industries.

The model was simplified for a practical application and indicators for future monitoring process and customer flow management were developed.

The authors developed the concept of customer flow to assess the long‐term results of marketing activities and to emphasize the difference between managing new and existing customers. New performance metrics are proposed based on customer flow and its structural characteristics. This allowed comparing of acquisition and retention strategies of the same company in different markets and reveals the crucial differences between the marketing strategies prevailing in Russia and those in Europe. The authors have demonstrated how the concept may help firms to develop and implement successful strategies.

The paper aims to examine the consequences of a cross‐border acquisition on business network changes in the Russian bakery industry.

This study employs the IMP group's network approach to analyse the empirical single case study with two embedded sub‐cases.

The empirical study offers a typology on the forms of network change that may be triggered by mergers and acquisitions (M&As), while the conceptual framework broadens understanding of the change sequence and reciprocal interaction among actors, activities, resources and the external environment, with implications for network change analysis.

While the theoretical position developed fits the unique characteristics of the case studied in the industry and country settings, it is necessary to be cautious in generalising the study beyond this context.

For managers of merging parties to garner superior performance from the network changes they initiate, it is critical for them to have precise insights into their network. Other connected actors must also adapt to the changes triggered by the merging parties, if they want to maintain their network positions.

For academicians, the paper attempts to broaden the understanding of different forms of network change that M&As may evoke. For practitioners, it offers a picture of what internal and external adjustments may be required of them following an M&A.

The purpose of this paper is to develop and test models explaining the unsatisfactory innovation activity of Russian firms and the main obstacles to innovation cluster development.

Based on statistical analysis and the results of a pilot survey of 192 local businessmen, followed by imitation modeling analysis, the study tests hypotheses regarding the impact of unsatisfactory institutional environments, including weak property rights protection, on innovation cluster development in Russia.

The analysis shows that the impact of adverse factors on innovation activities of cluster members is crucial, and estimates to what extent the negative factors' influence should be reduced to prevent cluster degradation processes.

The models provide a number of sensitivity tests of the parameters; however, data from clusters with different levels of support and protection need to be obtained. Government experiments could be conducted to test the models and find ranges of optimal parameters for cluster development. Short of this, examination of actual data from different cluster in similar environments would allow estimated of optimal strategies for support. Longitudinal data can also help determine the actual cause and effect of successful innovation cluster development.

The paper provides managerial implications for organizations involved in innovation clusters, which can be used to improve cluster members' performance and collaborative innovation activities by means of creating acceptable institutional environments.

The paper provides evidence of the connection between collaborative activities of clustering organizations in Russia and their performance caused by expectations concerning institutional conditions on the macro level in Russia.

The purpose of this paper is to reveal how trust develops between partner firms in the context of intercultural business relationships and how understanding of the business culture of a partner firm and adaptation to it can be a driving force for the beginning and maintaining of trust development with that partner.

The study is of a qualitative nature and employs “elite interviewing” methodology for the aims of data collection. The analysis is conducted through theoretically‐informed reading of interviews.

Managers constantly learn the business culture of the partner through interactions. Adaptation based on the acquired business culture knowledge is found to be as important for the development of trust between business relationships' parties. A “moderate” level of cultural adaptation is identified as most favourable for this development. Additionally, a categorization of cultural adaptation within business relationships is proposed.

The insufficient number of personal interviews within a specific industrial context does not allow a generalisation of the study outcomes.

Research which addresses the importance of cultural adaptation for trust development within business relationships, is scarce. This study attempts to fill in this gap. Furthermore, it shows the need to consider business culture, rather than national culture, while studying business relationships. Finally, the study provides interesting avenues for further research.

The purpose of this paper is to broaden the current view of customer portfolio management by including the notion of customer interconnectedness.

The previous research in customer portfolio theory is reviewed, with special attention to customer interconnectedness. Customer interconnectedness as a criterion to build customer portfolios is studied in the example of large Russian b2b company. First, the results of participative inquiry research within the company are presented and then the insights from five in‐depth interviews are described.

Findings suggest that the assumption of customer independence in a portfolio, on which most of customer portfolio models are based, may not fit certain markets and industries. This paper sheds light on to the specifics of customer portfolio building, in the Russian context and results in the customer interconnectedness assumption.

Additional research beyond the provided exploratory study is needed to quantitatively test the assumption and generalize the results. The main research implications relate to the new perspective on customer portfolio theory based on customer interconnectedness.

The paper provides researchers and practitioners with insights into customer portfolio models specifics existing in Russia. This knowledge can be helpful, also, for foreign companies entering the Russian market.

The process of customer portfolio building in the Russian b2b markets has been addressed for the first time in b2b marketing research. The analysis of customer portfolio building in Russian b2b context shows that customer independence assumption is challenged and should be replaced with customer interconnectedness approach.

The purpose of this paper is to examine new rules of exchange in retailer‐supplier relationships imposed by the retail chains, to analyse factors facilitating this institutional change and to reveal the links between channel power and relational conflicts.

Survey data were collected from 500 managers of retail chains and their suppliers in five Russian cities. The sample includes firms of different sizes that sell food and home electronic appliances. After the diffusion of new contract arrangements is examined, logistic regression models are constructed to evaluate major sources of relational conflicts.

The findings indicate that power‐advantaged firms disseminate new rules of exchange effectively. However, relational conflicts largely originate not from these new demands but from the frequent contract infringements by both exchange parties.

The study is confined to two sectors of retail trade in one country. Further research is required to determine the effects on channel relationships of the financial crisis and of the adoption of restrictive federal legislation.

Practitioners should recognise the need to provide socio‐political legitimacy for the new rules of exchange. Otherwise, they may face relational conflicts and provoke restrictive state regulations. Public officials should know that relational conflicts may originate largely from opportunistic behaviour by exchange parties rather than from abuse of market power.

This paper presents the first systematic quantitative study of retailer‐supplier relationships in Russia. It investigates institutional change and relational conflicts as perceived by both exchange parties.

The purpose of this paper is to show how the institutional context in an emerging economy, Russia, moderates the “do or buy” decision of international firms operating in the country. This is examined through the influence of institutional voids on transaction costs and definition of core competencies.

The paper adopts a qualitative research approach, where the empirical data are based on interviews with executives of eight Finnish companies, which have invested in Russia's second largest city, St Petersburg.

The key findings include first, that the formal and informal constraints in the Russian business environment influence outsourcing decisions in terms of increased transaction costs, and in terms of resources needed to be competitive. Second, the authors show that, due to these constraints, a firm in Russia may need to insource functions that it would otherwise outsource as non‐core activities and invest in building of competencies specific to the Russian business environment.

The limitation of the study is its focus on two countries. However, the analytical framework proposed for examining influence of institutions on outsourcing strategies is applicable to other country contexts.

This paper shows how the institutional constraints of the host country, reflecting in this case as underdeveloped market for business services and complex state regulation, can result in a significant need for adaptation of a foreign firm's business processes. This must be taken into account in business planning and allocation of resources to the Russian operations.

The paper provides researchers and practitioners with new information about a little‐studied topic by showing concrete ways of how institutions influence outsourcing strategies in Russia.