Sustainable Business Model Innovation: Review, Analysis and Impact on Society

Molina-Castillo, Francisco-Jose; Sinkovics, Noemi; Sinkovics, Rudolf R.

Abstract

Sustainability issues are on the rise and companies are pressured to respond [1]. Arguably, company response is a rather reactive approach and insufficient given the evidence regarding broken planetary boundaries and the immediate need for business transformation and alignment of the economic system with the planetary system [2]. For appropriately communicating social and environmental priority issues, and prompting discussions regarding natural resources and energy [3], the business model concept has become an increasingly useful tool [4,5]. Indeed, issues related to the environment, natural resources and climate change are increasingly looked at through the lens of business model innovation, adaptation and transformation processes to examine value generation at economic, social and environmental levels [6,7]. A unique feature of the business model perspective is that it allows non-science managerial audiences to appreciate discussions about planetary boundaries and system change requirements, which otherwise would be suppressed by the narrow focus on management concepts such as revenue and profit. The business model and sustainable business model innovation literatures thus offer a mechanism to reorient firm-level innovation towards sustainability, supporting conservation of natural resources [8] as well as addressing social and environmental concerns [9,10].

Citation

Molina-Castillo, F.-J., Sinkovics, N., & Sinkovics, R. R. (2021). Sustainable Business Model Innovation: Review, Analysis and Impact on Society. Sustainability, 13(16), Article 8906. https://doi.org/10.3390/su13168906

• Journal Article Type: Editorial
• Acceptance Date: Aug 4, 2021
• Online Publication Date: Aug 9, 2021
• Publication Date: Aug 9, 2021
• Deposit Date: Jan 6, 2025
• Journal: Sustainability
• Electronic ISSN: 2071-1050
• Publisher: MDPI
• Peer Reviewed: Peer Reviewed
• Volume: 13
• Issue: 16
• Article Number: 8906
• DOI: https://doi.org/10.3390/su13168906
• Public URL: https://durham-repository.worktribe.com/output/3325263
• Additional Information: This article is open access and available via: https://doi.org/10.3390/su13168906