Business model innovation for the Sustainable Development Goals

Business model innovation can be a key driver to realizing the transformation needed to achieve the United Nations Sustainable Development Goals (SDGs). At the same time, the SDGs can support organizations as they identify and tackle opportunities for business model innovation. This study uses a con...

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Bibliographic Details
Published in:Business strategy and the environment 2023-09, Vol.32 (6), p.3752-3765
Main Authors: Rosati, Francesco, Rodrigues, Vinicius P., Cosenz, Federico, Li‐Ying, Jason
Format: Article
Language:English
Subjects:
Business models
Clean energy
Climate
Climate action
Innovations
Opportunity
Organizations
Participatory action research
Research methodology
Risk
Sustainability
Sustainable development
Transformation
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Summary:Business model innovation can be a key driver to realizing the transformation needed to achieve the United Nations Sustainable Development Goals (SDGs). At the same time, the SDGs can support organizations as they identify and tackle opportunities for business model innovation. This study uses a constructive research method to build a managerial approach that supports business model innovation for the SDGs. The approach helps organizations assess their contribution to the SDGs, explore and prioritize SDG‐oriented business opportunities and risks, and formulate business model innovation strategies accordingly. The proposed approach was developed through participatory action research conducted in collaboration with two companies operating in the medical and educational sectors and then applied to Ørsted, a multinational power company, which is strongly committed to a sustainability‐driven business transformation and aspires to contribute strongly to SDG 7 (Affordable and clean energy) and SDG 13 (Climate action). The study furthers the academic and practical debate on business model innovation for sustainability by providing new academic and practical knowledge on how organizations can use the SDGs to stimulate business model innovations.
ISSN:0964-4733
1099-0836
DOI:10.1002/bse.3334