Implementation Of Sustainable Business Models Research Articles

The emergence of green finance a conceptual framework for environmental sustainability: innovation viewpoint

Background of the study This study intends to contribute to the continuing discussion about green economic growth by objectively investigating the consequences of clean energy generation, cutting-edge green practices, and ethical business on global sustainability. This study also examines how green finance laws effectively handle the financial limitations that companies face when pursuing green innovation. Green finance enables the development and implementation of sustainable business models, investments, trade, economic, environmental, and social projects through the effective utilization of financial resources. Methods This article offers a complete evaluation of the current state and advancements in green finance research using a mixed-methods approach, which includes bibliometric and qualitative analysis. We analysed a big dataset of research papers after entering the keywords into the Scopus database. Results This study found that green bank products include green securities, investments, climate financing, carbon finance, insurance, credit, and infrastructure bonds. Sustainability, sustainable development, investments, environmental economics, sustainable finance, green bonds, and the green economy dominate as a most prevalent theme. China has the strongest bibliometric linkages to other nations, followed by the US and UK. This study also examines whether green finance policies address firm financial restrictions while pursuing green innovation. VOS-viewer generates co-authorship-based keyword occurrence links and network maps. Conclusion Green finance strives to increase funding flows to sustainable development goals while mitigating environmental and social hazards. “Going green,” pricing, forecasting, modelling, picking the most efficient tool, and influencing investor behaviour toward environmentally friendly operations are all challenges. Environmental policies, interest rates, religion, risks, social inclusion, and banking laws all have an impact on bank green financing initiatives. The study’s main contribution is an overview of green finance breakthroughs for sustainability, which may help scholars and practitioners understand the trend and future research directions.

Management control practices for the sustainability transformation in the European construction industry

PurposeWhile research on sustainability reporting in the construction industry has already provided comprehensive findings, the purpose of this paper is to answer the question of how construction companies anchor the topic of sustainability in their strategic and operative management control practices. The implementation of sustainable business models and sustainability strategies requires proper management control instruments or mechanisms that support the transformation process or make it possible in the first place.Design/methodology/approachA qualitative content analysis based on deductive and inductive procedures was conducted. 39 sustainability reports published by the largest construction companies in the EU were examined.FindingsValuable insights are provided by showing which control instruments and mechanisms are used to improve corporate sustainability performance as well as how these are linked systematically. The results show that the focus is on strategic planning, cultural and administrative controls, while short-term targets, which could set out the path to achieving the long-term sustainability goals set, are often not reported. Strategic stakeholder theory and legitimacy theory provide explanations for the use of management control practices identified.Originality/valuePrevious studies often focus on selected single control practices and miss holistic approaches for investigating corporate sustainability in construction companies. Furthermore, theoretical perspectives with instrumental and socio/political views on corporate sustainability help us explain the control practices applied. Moreover, practitioners, standard setters and legislators can use the findings for sustainability management or for developing standards and legislation.

A qualitative inquiry into sustainable transitions and business models in Icelandic energy-related companies

In the face of escalating environmental and social crises, the potential for a sustainable transition within the current sociotechnical system has emerged through innovation and alternative technologies. Despite offering diverse perspectives, sustainable transitions remain uncertain in terms of their nature and pathways. The research aims to bridge theory and reality through a case study to investigate the potential for sector-specific businesses to contribute to a sustainable transition within the current sociotechnical system. This study focuses on five Icelandic energy-related companies and two governing bodies within the energy value chain, and examines the sustainability of companies' business models and their contributions to different futures, and contextualizes the results within economic theory. The study identified two alternative economic paradigms, Green Growth (GG) and Post Growth (PG), as potential frameworks for achieving sustainable futures. The findings suggest Icelandic energy-related companies align with GG and predominantly prioritize energy efficiency, transparency enhancement, and environmental impact reduction, reflecting contributions to medium-term tactical level changes within the sociotechnical system. Challenges arise in fully implementing PG principles due to the complexities of reconciling energy production, consumption, and growth goals. The findings underscore the pivotal role of energy-related companies in sustainable transitions but emphasize the need for policy interventions to guide macroeconomic activities towards environmental and social wellbeing. The theoretical contribution of this study is the identification of alternative economic paradigms and construction of a sustainable business model for energy related companies. The practical contribution of this study is the framework used in evaluating the business model of companies in the energy sector which can provide practical understandings of the implementation of sustainable business models and a company's sustainability performance.

Sustainable Business Model in Small and Medium-Sized Enterprises: A Study in Yogyakarta and Magelang

This study aims to analyze Yogyakarta and Magelang Small and Medium-Sized Enterprises (hereafter) SMEs based on sustainable business model implementation. This study gives new evidence of Yogyakarta and Magelang SMEs’ businesses based on sustainable business model where Indonesian SMEs’ experience the economic crash of Covid-19. This study uses a qualitative descriptive method. Specifically, uses method of qualitative evaluative where this study evaluates SMEs business process by using sustainable business model. Research sample includes 40 SMEs in Yogyakarta and Magelang. Evaluation of SMEs’ business is based on elements of sustainable business model including key partner, key activity, key resources, value proposition, customer relationship, channels, customer segment, cost structure, revenue stream, cash flow management, pivoting plan, and ecological concern. This study uses a “yes and no” questionaries with 13 questions that refers to the elements of sustainable business. Based on the result, this study finds that most SMEs in Yogyakarta and Magelang, implement the elements of a key partner, key activity, key resources, value proposition, customer relationship, channels, cost structure, pivoting plan, and ecological concern. On the other hand, most SMEs do not implement elements of customer segment, revenue stream, and cash flow management. Socialization and special training is needed from various parties related to the implementation of sustainable business models for SMEs.

Open and sustainable business model innovation: An intention-based perspective from the Spanish cultural firms

SMEs, including cultural and creative firms, are encountering increasingly difficult obstacles in today’s competitive landscape. In particular, during the COVID-19 pandemic, these SMEs had to confront significant challenges that endangered their survival, requiring a shift in their business model. Many successful firms responded to this crisis by adopting business model innovation (BMI) as a strategic solution. The pandemic also emphasised the importance of sustainable practices and the necessity to enhance readiness for and responsiveness to future challenges. This study proposes examining Sustainable Business Model Innovation in the light of the Theory of Planned Behavior. While some studies have explored BMI through the TPB framework, we expand the interpretative schema by introducing an additional predictor: the influence of open innovation ecosystem partnerships. From an open innovation perspective, the new construct proposes how peer professional organisations and technological clusters play a significant role in managers’ intentions to implement SBM. A purposive sample of 122 Spanish cultural and creative firm managers and business owners was surveyed and analysed using PLS-SEM. The data collected supports the model and supports the prominent role of open innovation environments as a mediation effect of the intention to implement a sustainable and innovative business model. The study adds new insights into the theoretical framework to better understand the implementation of sustainable business models’ innovation actions, with specific support for the role of open innovation ecosystems such as professional organisations and technological clusters. Practitioners and open innovation ecosystem promoters can gain new clues for initiatives to promote the diffusion of innovations among creative and cultural SMEs.

Contingency-based analysis of the drivers and obstacles to a successful sustainable business model: Seeking the uncaptured value

Extensive social interest in sustainability has motivated companies to revise their business models, thus considering their evolution towards a sustainable business model (SBM). However, implementation of these SBMs remains challenging. Despite interest in sustainability, the picture of the drivers and obstacles for achieving successful SBM implementation remains fragmented and unsystematised. Consequently, we aimed to provide a Structured Literature Review (SLR) of the drivers and obstacles for the implementation of SBMs, and their role in that implementation. Adopting the contingency theory-based framework, we scrutinised studies published in journals from 2010 to 2020 to identify the main internal and external drivers and obstacles, including their role towards SBM implementation. Moreover, our findings highlight how these drivers and obstacles can be leveraged to gain a sustainable value that is now uncaptured. Capturing the lost value for the benefit of the company and its stakeholders would be a necessary step in achieving stable sustainability. Finally, our study provides a detailed assessment of the existing literature on the issue, and provides a framework for drivers and obstacles for SBM implementation, their role in that process, and a future research agenda and managerial takeaways.

How digitalization supports a sustainable business model: A literature review

New digital technologies are becoming widespread and have radically redefined business processes and practices. Simultaneously, numerous companies are implementing sustainable business models (SBMs), expecting to integrate sustainability considerations and increase competitive advantage. These two megatrends—digitalization and sustainability—are radically changing firms. However, the relationship between digitalization and the implementation of SBMs is yet to be investigated in detail. This is a key issue, as digital tools could assist companies in transforming their current business models toward sustainability. Through a literature review, we explore the link between digitalization and SBMs, illustrating the main potential impacts of digitalization for each block of SBM and propose a list of the potential benefits that digitalized SBMs can bring. We identify these potential benefits and elaborate on them considering their economic, social, and environmental impacts. Moreover, our study identifies a potential virtuous circle generated by digitalization, while highlighting the necessary alignment of digital tools and key business factors to attain economic, social, and environmental value.

How Boards Can Help Sustainability Transformations

Board members are becoming increasingly aware of the relevance of sustainability and the ways in which orientation toward sustainable development is fundamentally reshaping business management in almost all industries. In this emerging model, the board’s central mandate remains unchanged, but its scope regarding issues such as non-financial performance, establishment of governance structures dedicated to sustainability, as well as emphasis on circular behaviors, stakeholder engagement, and integrated disclosure continues to deepen. This paper reports the results of an in-depth examination of the main factors that can affect boards’ promotion of effective implementation of sustainable business models.

Sustainable business models to create sustainable competitive advantages: strategic approach to overcoming COVID-19 crisis and improve financial performance

PurposeThe purpose of this study is to evaluate whether the implementation of sustainable business models contributes to improving a firm’s performance during a global crisis, such as the one caused by COVID-19. Based on the triple bottom line theory, the paper explores the relation between the creation of value through solid corporate social responsibility (CSR) strategies, United Nations (UN) Global Compact’s (GC) business model proposals and Global Reporting Initiative’s (GRI) reporting scheme.Design/methodology/approachThe present paper studies companies within the European Union, focusing specifically on the long-term impact of using the world’s most widely used standards for sustainability reporting – the GRI’s standards and/or the UNGC management models, as well as on the firm’s performance based on the financial results during COVID-19 crisis. To achieve this goal, the study analyses the share price of firms publicly listed in the FTSEMIB (benchmark index of Italy’s largest trading platform) out of those companies that are implementing the UN and GRI’s tools.FindingsFindings show how a commitment to sustainable business models and long-term CSR strategies can contribute to firm’s ability to overcome periods of economic crisis. Furthermore, implementing GRI standards and UNGC guidelines within the business model seems to have a positive impact in overcoming a hard context such as COVID-19. In addition, it contributes to a better understanding of stakeholders’ needs, consumer profiling and value creation.Originality/valueThis study evaluates firms’ business models, considering the effects of decisions made in the context of COVID-19. The role of UNGC and GRI is evaluated in terms of their contribution to firms’ financial performance and corporate reputation during a context of hardship. Consequently, this study contributes to academia and practice, adding value in areas related to strategic planning and business model design.

The role of Eco-control in the implementation of Sustainable Business Models

Growing awareness of the need for companies to embed sustainability principles within them in order to contribute to the transition to different paradigms of development, production and consumption led scholarly efforts to focus on the concept of Sustainable Business Model (SBM). In this regard, literature highlighted different factors on which the implementation of SBMs should depend. Among these factors, eco-control systems has been explored and portrayed as necessary for implementing environmental strategies. However, studies on eco-control systems limited their attention to their relationships between these systems and environmental performance, whereas overlooking their potential role in implementing other performance dimensions within a broader concept of SBM. Given this premise, the paper explores the role of eco-control in the implementation of SBMs, by analysing the case of Salcheto, a winery located in Montepulciano (Siena). Evidence found suggests that, in the case analysed, eco-control has played a key role in the implementation of a SBM, despite its effects were mainly concentrated on environmental and economic dimensions of sustainability.

What Makes Consumers Willing to Pay for Online Services? Discovering Consumer Opinions and Determinant Factors on Charged Online Services

ABSTRACT Recently, more and more service e-businesses began to charge their consumers on the services provided to assure revenues for their survival. An understanding of consumer opinions on and behaviors toward the charged online services is critical to successful business models for service e-business. Through survey data analyses, the exploratory study reported herein attempts to discover consumer opinions and behaviors regarding charged online services. The findings of this study would contribute effectively to the formulation and implementation of sustainable business models for e-businesses in the service sector.