Recent Development of Sustainable Business Model Innovation: A Systematic Literature Review

Abstract

The digital transformation in the fourth industrial revolution (Industry 4.0) disrupts the entire industry system and forces the industry to innovate by shifting the traditional business model to business model innovation that enables sustainable development. However, research suggests that business progress of sustainable business model innovation; the subsets of business model innovation, is lagging behind. Despite the growth of literature on the topic, the bridges between conceptualization and implementation are relatively unexplored. This study provides a comprehensive review of sustainable business model innovation through a systematic literature review. Its key contributions are: (1) a review of the development of the concept by pointing out the evolution of definitions, also key components, and frameworks or tools identification; (2) a factor identification through barriers and drivers; and (3) an acknowledgment of the roles of sustainable business model innovation in the implementation of sustainable business model.

Transformasi digital pada era revolusi industri 4.0 mendisrupsi seluruh sistem industri dan memaksa industri untuk berinovasi dengan mengalihkan model bisnis tradisional ke inovasi model bisnis yang memungkinkan perkembangan berkelanjutan. Namun, penelitian menyatakan bahwa kemajuan bisnis dari salah satu bagian inovasi model bisnis, yaitu inovasi model bisnis berkelanjutan masih tertinggal. Meskipun terdapat pertumbuhan literatur tentang topik ini, jarak antara konseptualisasi dan implementasi tentang topik ini relatif belum tereksplorasi. Studi ini menyajikan reviu menyeluruh tentang inovasi model bisnis berkelanjutan melalui tinjauan literatur yang sistematis. Kontribusi utama studi ini adalah: (1) tinjauan pengembangan konsep dengan menunjukkan evolusi definisi, mengidentifikasi komponen utama, dan kerangka kerja atau alatalat; (2) identifikasi faktor melalui hambatan dan pendorong; serta (3) pengakuan peran dari inovasi model bisnis berkelanjutan dalam penerapan model bisnis berkelanjutan.