<abstract xmlns="http://www.w3.org/1999/xhtml"><p> Considering the frequently changing business environment, staying competitive on the current markets takes more efforts from companies in the 21<sup>st</sup> century. Conducting only incremental product innovation does not meet the market criteria anymore. The successful entrepreneurs of the future must focus more on the design of their business models to gain superior economic performance. Besides the market, society has also raised a major requirement towards companies, which is being socially responsible. The word ‘sustainability’ regarding businesses might confuse a lot of people as several aspects of the term reach beyond its traditional economic interpretation. The present study provides a clear explanation and furthermore examines its application at a corporate level. This paper aims to present how business model innovation does not simply lead to economic success but its generated value can be extended to social and environmental aspects as well.</p></abstract>

Considering the frequently changing business environment, staying competitive on the current markets takes more efforts from companies in the 21st century. Conducting only incremental product innovation does not meet the market criteria anymore. The successful entrepreneurs of the future must focus more on the design of their business models to gain superior economic performance. Besides the market, society has also raised a major requirement towards companies, which is being socially responsible. The word ‘sustainability’ regarding businesses might confuse a lot of people as several aspects of the term reach beyond its traditional economic interpretation. The present study provides a clear explanation and furthermore examines its application at a corporate level. This paper aims to present how business model innovation does not simply lead to economic success but its generated value can be extended to social and environmental aspects as well.

Business Model Innovation as a Tool to Establish Corporate Sustainability

Visegrad Journal on Bioeconomy and Sustainable Development

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

{"article-title":"Business Model Innovation as a Tool to Establish Corporate Sustainability"}

Considering the frequently changing business environment, staying competitive on the current markets takes more efforts from companies in the 21st century....

Business Model Innovation as a Tool to Establish Corporate Sustainability

Published Online: Feb 01, 2018

Page range: 50 - 58

DOI: https://doi.org/10.1515/vjbsd-2017-0009

Keywords
business model innovation, business models for sustainability, corporate sustainability, corporate social responsibility, sustainability management

© Slovak University of Agriculture in Nitra

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Business Model Innovation as a Tool to Establish Corporate Sustainability

Published Online: Feb 01, 2018

Page range: 50 - 58

DOI: https://doi.org/10.1515/vjbsd-2017-0009

Keywordsbusiness model innovation, business models for sustainability, corporate sustainability, corporate social responsibility, sustainability management

© Slovak University of Agriculture in Nitra

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Keywords
business model innovation, business models for sustainability, corporate sustainability, corporate social responsibility, sustainability management