Sustainable Business Model Innovation: A Quantitative Analysis of Relevant Factors

Abstract

To integrate sustainability targets into a company's business model, one potential mechanism is sustainable business model innovation (SBMI). It defines how new business models are developed to change organizations' existing business model targets for sustainable development. Despite SBMI's great potential to address industries' long-standing sustainability challenges, it is not fully adopted in practice. This study through a DEMATEL technique strives to outline the possible actions that need to be taken before implementing SBMI to enhance the success rate. The current study investigates the most significant and necessary actions through strategic, institutional, and operational segments. Results suggest that action programs at organizations' strategic- and institutional levels are more critical to have a successful SBMI implementation. Moreover, our results indicate that innovation or more clearly how innovation is practiced within an organization is key to fully unlocking the SBMI's potential. © 2023 IEEE.