Abstract
The current dynamics of change, including climate change, resource depletion, energy transition, internet of things, etc. will have substantial impacts on the functioning of contemporary business models. Most firms and companies, however, still largely focus on efficiency strategies leading to sub-optimal solutions (reducing bad impact), rather than radically changing their business model to develop new transaction models more appropriate for today’s world (doing better things). However, persistent sustainability issues arising from our changing societal systems, require more radical and structural changes both within and between organizations to change the way we do business. There is limited empirically established research literature on how businesses can be more proactive in this regard and how they can move beyond “management of unsustainability”. In this paper, we present a transformative business model innovation approach inspired by transition theory combining elements of systems thinking, value-inspired envisioning, reflexive design and co-creation that was pioneered for a consortia of reuse centers in the province of Limburg, Belgium. We demonstrate that this approach contributed to the development of new business model concepts, was conducive for mobilizing support and resources to ensure follow up activity and holds potential to promote a more proactive role for businesses as agents of transformative change.
Highlights
In today’s world, businesses have to deal with super-fast changes in the market and accelerating disruption [1]
We present a transformative business model innovation approach inspired by transition theory combining elements of systems thinking, value-inspired envisioning, reflexive design and co-creation that was pioneered for a consortia of reuse centers in the province of Limburg, Belgium
As a first step in this exploratory project, the directors of the reuse centers together with a selection of relevant actors from diverse domains explored the values and underpinning mottos of the reuse centers’ future role. The results of this exercise were translated into a vision of shared, multiple and collective value creation and formed the basis for the exploration of new business model concepts that fit in an envisioned future society that functions within the boundaries of significantly different material management principles
Summary
In today’s world, businesses have to deal with super-fast changes in the market and accelerating disruption [1]. They have to face increased uncertainty and complexity fueled by, e.g., globalization, digitization and grand challenges such as resource depletion, climate change and increasing inequality. To deal with VUCA dynamics effectively, more transformative thinking and organizing is required, triggering a significant transformation in the way doing business is arranged and organized [3]. This requires a mode of explorative business model innovation focusing on increasing reflexive capacity, mobilizing networks and “learning while you go” to explore future roles, collaborations and new organizational arrangements. The magnitude of the grand challenges, require system innovation, changing the logic of value creation and shaping new transaction models more appropriate for today’s world [3,8]
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