Innovation, Sustainability, and Business Models

Abstract

Technological innovation is changing the world, and these changes are bringing in new challenges. The most important among them is the customer perspective. This changing customer perspective is in demand for innovative business models. One of the changing trend is expecting sustainable models for business value proposition. Therefore, how far organizations are able to adapt to new business models leads to sustainable competitive advantage. However, research shows many business model innovations fail. The exact reasons for failure remain unexplored. Definitely, there is a lack of conceptual framework to guide the adoption and implementation of new sustainable business models. This has resulted into a need for designing new conceptual framework which can be a link between innovation and sustainability resulting in creating value for its customers. The chapter is written with the aim of providing a sustainable business model innovation which creates value for its stakeholders.