The medical devices, biotechnology, and healthcare industries are closely tied to innovation, with companies relying on research and development and new product introduction. However, innovation activities like research and development can be costly, and commercializing new products faces complexities. Having effective business models (BMs) aligned with such innovation activities is crucial. This study delves into the intricacies of BMs in these innovator companies, emphasizing the pivotal role of effective BMs in navigating uncertainties and fostering innovation. This study conducted a systematic literature review to synthesize knowledge on BMs in innovator health-tech companies and compare models on dimensions like infrastructure, offering, customers, and finances. The review of 34 recent papers revealed 9 key BMs - open innovation, sustainable, dynamic, dual, spin-off, frugal, high-tech entrepreneurial content marketing, back-end, and product-service systems BMs. The analysis found open innovation, sustainability, and dynamicity as foundational models that can serve as a basis when combined with others. The paper unveils a tailored Dynamic Sustainable Business Model (DSBM) for Health-Tech, designed to integrate adaptability and sustainability, providing a framework for companies to leverage emerging technologies effectively. Additionally, a conceptual framework outlining 28 groups of uncertainty factors in BMs was developed to aid risk management in health-tech. The findings offer crucial insights for companies in health-tech industries, aiding them in managing innovation and value creation amidst a rapidly evolving landscape.

Purpose Considering current development of Grey Systems Theory (GST), we can come up with the following thesis: practical applications are a dominant subject of research. Thus, what seems to be symptomatic for relatively young knowledge disciplines, the authors observe the presence of imbalance between the development of GST application tools and theory's epistemological and methodological background. As for GST, epistemological and methodological problems are becoming visible especially in the issues of determining a clear criterion of demarcation of this kind of a theory from others. In other words, this problem can be reduced to the issue of a precise determination of what the category of a grey system and grey information is. This problem is of great importance for further development and popularisation of GST in the world of science. Realising its significance, the purpose of this paper is to create a general overview of Grey Systems epistemology and afterwards create axiomatic and formal frames for a category of greyness. Design/methodology/approach In order to achieve set goals, two research approaches were accepted. In the area of inference about epistemology of GST an approach characteristic of an analytical philosophy was used, whereas in the case of axiomatic and formal frames for a category of greyness the authors referred to terms of a set theory and the principles of a pragmatic logic. Findings The result of research is to formulate a concept of a grey system and a concept of grey information in the context of a process of cognition. Moreover, a function of greyness and other fundamental categories of GST will be defined in an axiomatic way. Originality/value The paper presents a new consistent frame for the issues of methodological and epistemological backgrounds of GST. An original concept is to refer in considerations to a newly proposed grey space. This space was used for a formal justification of such elementary categories as grey numbers, a weight function of whitenization or grey sequences. The value of achievements shown in the paper is underlined by the fact that proposed theoretical constructions require further development and they can potentially open up new research trends in the GST.

Purpose: The airline industry has been significantly hit by the occurrence of the new coronavirus SARS-CoV-2, facing one of its worst crises in history. In this context, the present paper analyses one of the well-known boarding methods used in practice by the airlines before and during the coronavirus outbreak, namely back-to-front and suggests which variations of this method to use when three passenger boarding groups are considered and a jet bridge connects the airport terminal with the airplane.Design/methodology/approach: Based on the importance accorded by the airlines to operational performance, health risks, and passengers' comfort, the variations in three passenger groups back-to-front boarding are divided into three clusters using the grey clustering approach offered by the grey systems theory.Findings: Having the clusters based on the selected metrics and considering the social distance among the passengers, airlines can better understand how the variations in back-to-front perform in the new conditions imposed by the novel coronavirus and choose the boarding approach that better fits its policy and goals.Originality/value: The paper combines the advantages offered by grey clustering and agent-based modelling for offering to determine which are the best configurations that offer a reduced boarding time, while accounting for reduced passengers' health risk, measured through three indicators: aisle risk, seat risk and type-3 seat interferences and for an increased comfort for the passengers manifested through a continuous walking flow while boarding.

The article proposes a new method of occupational risk assessment which uses the grey decision model. The method is called the grey occupational risk assessment model (GORAM). The presented method allows for combining measurable and qualitative factors in the process of occupational risk assessment through the use of expert knowledge. This method can be applied to the multifaceted occupational risk assessment of complex and uncertain sociotechnical systems. First, the article presents problems with currently used methods of occupational risk assessment in the context of the possibility of solving them using the methods of the grey system theory. Secondly, the algorithm of the GORAM method is presented. Finally, the developed GORAM model was used in a case study involving the position of a mechanic in the technical department of a production company.

Purpose: The article proposes a new method of strategic analysis. The method was called the grey portfolio analysis method. The presented method is complementary to the popular BCG matrix. The use of the grey portfolio analysis method enables to make a dynamic portfolio analysis for data with a high level of uncertainty.Design/methodology/approach: First, the article presents current problems related to the application of portfolio methods in strategic management, in particular with reference to the BCG matrix. Second, the basics of grey numbers, operations with them and the way of acting in the grey portfolio analysis method are presented. Finally, the developed method is presented in a case study concerning an IT enterprise, whose portfolio includes cloud computing services.Findings: In the article, a new method of a strategic analysis based on the BCG matrix was presented. It combines grey methodologies of decision making with a grey prognostic model in the context of a strategic analysis. Due to this fact, a dynamic approach to the issues of portfolio methods is possible.Practical implications: The article fits the current need related to the development of new expert systems supporting strategic management in enterprises.Originality/value: An introduced method is new and innovative in the area of portfolio methods. Its originality results from the fact that it eliminates a static nature of the BCG matrix through the use of grey prognostic models. What is more, when grey numbers are used, a problem of uncertainty of information, which appears, is solved at a methodological level.