Business model innovation for sustainability: towards a unified perspective for creation of sustainable business models
Van Fossen, K
Business Strategy and the Environment
Reason for embargo
This is the author accepted manuscript. It is currently under an indefinite embargo pending publication by the publisher. 2 year embargo on publication.
Business model innovation has seen a recent surge in academic research and business practice. Changes to business models are recognised as a fundamental approach to realise innovations for sustainability. However little is known about the successful adoption of sustainable business models (SBMs). The purpose of this paper is to develop a unified theoretical perspective for understanding business model innovations that lead to better organizational economic, environmental and social performance. The paper examines bodies of literature on business model innovation, sustainability innovation, networks theory, stakeholder theory and product-service systems. We develop five propositions that support the creation of SBMs in a unified perspective which lays a foundation to support organizations to investigate and experiment with alternative new business models. This article contributes to the emerging field of SBMs, which embed economic, environmental and social flows of value that are created, delivered and captured in a value network. It highlights gaps for addressing the challenges of business model innovation for sustainability and suggests avenues for future research.
This study was supported by the EPSRC project ‘Business Models for Sustainable Industrial Systems’ (grant n° EP/L019914/1) and the EPSRC Centre for Innovative Manufacturing in Industrial Sustainability (grant n° EP/I033351/1)
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