Sustainable business model innovation is an all-round innovation of value proposition, value creation, value acquisition and value network guided by sustainable development, fully integrates the contribution of enterprises to sustainable development, the requirements of stakeholders and social responsibility, and finally creates comprehensive value and shared value covering economy, society and environment. From the perspectives of triple bottom line, stakeholders, enterprise strategy, organizational management and resource integration, this paper reveals the connotation deepening and extension of sustainable business model to traditional business model, and comprehensively combs the concept understanding, design scenarios, driving factors and implementation process of sustainable business model innovation. Among them, the social enterprise and benefit corporation organization scene focusing on organizational system, the bottom of pyramid （BoP） focusing on users, and the circular economy scenario focusing on products are the main scenarios for sustainable business model design. Sustainable entrepreneurship from the perspective of entrepreneurs, creation of shared value from the perspective of strategic competition tools, legitimacy construction and profit from the perspective of neo-institutionalism, and social pressure from the perspective of stakeholders are the important driving factors of sustainable business model innovation, while sustainable entrepreneurship, responsible digital technology innovation, and organizational paradigm innovation are the main ways to achieve sustainable business model innovation. We suggest that future research should focus on clarifying the basic theoretical framework and internal drivers of sustainable business model innovation, analyzing the mechanism of sustainable business model innovation on enterprise performance at different levels, and deepening the research on sustainable business model innovation in the new digital era.
Sustainable Business Model Innovation: A Review and Prospects
Foreign Economics & Management Vol. 42, Issue 09, pp. 3 - 18 (2020) DOI:10.16538/j.cnki.fem.20200807.101
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Cite this article
Xiao Hongjun, Yang Zhen. Sustainable Business Model Innovation: A Review and Prospects[J]. Foreign Economics & Management, 2020, 42(9): 3-18.
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