Adaptive Business Model Design through Jazz Economy: a Neuro-fuzzy Approach to Evaluating Quality-of-life Impact

Abstract Book of the 9th International Conference on Research in Business, Management and Finance

Year: 2025

[PDF]

Adaptive Business Model Design through Jazz Economy: a Neuro-fuzzy Approach to Evaluating Quality-of-life Impact

Sonja Brlečić Valčić, Bojan Morić Milovanović; Zoran Bubaš

ABSTRACT:

With the rising demand in society for sustainable human-centered economic development, new business model design paradigms need to be developed. Jazz Economy is an emerging framework that, whilst emphasizing creativity, improvisation, systemic thinking and collaborative value creation, also has much to offer this new approach in particular. But where Jazz Economy differs from traditional economic paradigms, which push linear optimization, it sees an economy as a dynamic system capable of adaptive experimentation. The study is designed to conceptualize the Jazz Economy and to assess how the principles can shape new business model innovation from the perspective of improving quality of life.
The methodological approach consists of multiple stages in the research process, which have been: 1) systematic literature review of new economic directions, social innovation, and value creation; 2) data analysis of structured questionnaires addressed to entrepreneurs, experts, and policymakers; 3) hierarchical clustering to identify key business model factors; 4) modelling of interdependencies with Fuzzy Logic and Adaptive Neuro-Fuzzy Inference System (ANFIS) techniques. This enables simulations through various decision paths and business model configurations, enabling the use of empirical evidence to identify the drivers of perceived quality of life.
Preliminary results show that business models with elements of improvisational adaptability, stakeholder engagement and clear reporting create stronger social impact compared with traditional growth-oriented models.
Findings further imply that SROI is an important tool in measuring and disseminating the value of non-financial outcomes; particularly social, environmental and community-based benefits. Theoretically, the study adds to the literature by defining the Jazz Economy construct and introducing an integrated Jazz Economy–SROI business model innovation framework. It practically provides entrepreneurs and public authorities with guidelines for designing business models aligned with societal well-being and sustainability goals.

Keywords: Jazz Economy; Business Model Innovation; Social Return on Investment; Quality of Life; Social Innovation; Anfis; Fuzzy Modelling; Sustainable Development