Creating a Balanced Value Proposition. Exploring the Advanced Business Creation Model

This conceptual paper explores the relationships between four dimensions that are important for start-ups: entrepreneurship, business models, strategic planning, and the development of a business plan. Based on an exploration of these dimensions, we present an innovative model - Advanced Business Creation Model (ABCM) - that demonstrates the manner in which a start-up can be originated. Additionally, the model can also be employed to develop new entrepreneurial activities within an organization. The core of this model is the concept of value proposition and, more specifically, on how this proposition is encompassing economic, social, environmental, and psychological values. We consider these values as a crucial aspect of the value proposition in order to achieve success in the market.