Sustainable Business Model Innovation and Strategic Management Practices for Entrepreneurial Success in Emerging Markets
DOI:
https://doi.org/10.66635/rm0h8r71Keywords:
Sustainable business model innovation, Strategic management, Entrepreneurial success, Emerging markets, Sustainable entrepreneurshipAbstract
Sustainable business model innovation (SBMI) is one of the most relevant mechanisms for entrepreneurial firms to achieve economic viability and environmental and social value creation. This review combines literature on SBMI, strategic management practices, entrepreneurial success and the emerging-market conditions, and then a comprehensive understanding of interrelationships is formed. The synthesis suggests that strategic planning, dynamic capabilities, resource management, organizational agility, innovation and knowledge management, stakeholder engagement and digital capabilities support the establishment and adoption of sustainable business models. SBMI, in turn, has an impact on multidimensional entrepreneurial success in terms of financial growth, performance of innovation, competitive advantage, organizational resilience, social and environmental outcomes. These relationships, however, are influenced by the contingencies of emerging markets such as institutional conditions, resource constraints, market dynamism, technological infrastructure, and sociocultural factors. A conceptual framework is suggested in which SBMI acts as a mediator between strategic management practices and entrepreneurial success, and the emerging-market context as a contextual contingency. The review offers theoretical, managerial and policy implications, and directions for future research.
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