Abstract
Amid growing environmental concerns, the active role companies have in encouraging environmental sustainability can no longer be overlooked. This chapter aims to contribute to the vast academic literature on the intersections among environmental sustainability engagement, process innovation, and sustainable business models. Corporate commitment to sustainability can be explained in light of interactions between the internal strategic decisions of companies and the external environment in which they operate. Many theoretical frameworks, including stakeholder theory, legitimacy theory, institutional theory, and signaling theory, offer economic and institutional rationales that explain why environmental sustainability has become a priority for many companies. Because the debates have shifted the mechanisms that allow companies to implement environmental sustainability strategies in their business models, this chapter discusses how innovation shapes sustainable business models and reviews a set of frameworks that can implement various sustainability initiatives in the daily operations of a company.
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