Author(s): Debiprasad Mukherjee, Santosh Kumar Prusty and Rojers P Joseph
Purpose – This scholarly analysis investigates the interdependent nexus among sustainability, business model innovation, and transformation. Through a comprehensive analysis of varied viewpoints, it elucidates the strategic realignment of business models to integrate ecological and social dimensions. Emphasizing the crucial harmonization of economic objectives with responsible environmental and societal stewardship, this research stands at the crossroads of critical business decisions, aiming to enrich the ongoing dialogue on sustainable practices and their fundamental role in fortifying organizational resilience and prosperity. Design/ Methodology/ Approach – This scholarly investigation conducts an extensive literature review, analyzing how organizations formulate and conceptualize their business model strategies with a focus on sustainability. Motivated by environmental necessities, shifting consumer preferences, and regulatory demands, the study scrutinizes over 130 articles from Scopus, JSTOR, Emerald Insight, SAGE, and Google Scholar. Examining Business Model Innovation through a strategic management lens, the analysis seeks to comprehensively understand, evaluate, and synthesize insights on diverse dimensions and factors influencing organizational sustainability goals, thereby shaping the strategic orientation and conceptualization of business models. Findings – This study underscores the profound impact of diverse factors, including environmental consciousness, financial performance, innovation, and strategic leadership, on organizational business model innovation, particularly in pursuit of sustainability goals. It advocates strategic realignment, emphasizing sustainability as a pivotal driver for enduring success, ethical resilience, and heightened competitiveness within contemporary business models. The paper positions sustainability as integral to innovation and transformation, rooted in societal principles of environmental integrity, social equity, and economic prosperity.