Towards a Korean Sustainable Business Model at National Level: The Influence of Cultural and Political Perceptions of National Image on Consumers’ Behavior

Abstract

Despite the increasing uptake of the term sustainable business model (SBM), the concept has mainly focused on business strategies. However, integrating the SBM into a longer-term and macroscopic framework would make it more sustainable. This article explored the SBM as a national strategy that operates beyond a corporate level. In this respect, the study examined the ways in which cultural and political perceptions of a nation can influence consumers’ choices. This article particularly examined the explanatory power of two ideational driving forces: perceptions of cultural heritage, and perceptions of politics and foreign relations. By assessing a dataset of the views of 223 African students studying in Korea, this study confirmed that national image meaningfully affects consumer behavior (intention to recommend). Furthermore, the study provided new evidence that cultural and political perceptions of a nation have a significantly positive effect on national image. It was also found that national image played a role as a mediating variable relating to cultural/political perceptions and intention to recommend. By extending the concept of the SBM to a national level, this article lays the foundation for a win–win situation between decision makers in both business and political sectors.