Business Model Innovation as a Tool to Establish Corporate Sustainability
Csaba Fogarassy, Balint Horvath, Robert Magda
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.
Keywords:
business model innovation; business models for sustainability; corporate sustainability; corporate social responsibility; sustainability management
Contact:
Csaba Fogarassy, associate professor, Climate Change Economics Research Centre, Szent István University, Faculty of Economics and Social Sciences, H-2100 Gödöllő, Páter Károly street 1, e-mail: fogarassy.csaba@gtk.szie.hu
Date of online publishing:
18.11.2017
PDF Text:
