Reinventing the business model to navigate the evolving business landscape

Title

Reinventing the business model to navigate the evolving business landscape

Creator

Tantia V.; Sukanya R.

Description

In today's rapidly evolving business landscape, technological advancements, shifting consumer behaviours, and global economic fluctuations increasingly challenge traditional business models. Organisations must reinvent their business models to remain competitive, embracing innovation, agility, and sustainability. This chapter explores the critical components of reinventing business models, including leveraging digital transformation, adopting customer-centric approaches, and integrating sustainable practices through a comprehensive view of their development. This study thoroughly understands the existing literature on business models, focusing on the features. Integrating sustainability into a business model is also a challenge for many practitioners. The business model innovation agenda is the topic of discussion among most companies. This chapter will explore adopting a business model towards sustainability by integrating environmental, social, and governance factors. The findings underscore the necessity for continuous adaptation and strategic foresight to drive long-term success. 2024, IGI Global. All rights reserved.

Source

ESG and Ecosystem Services for Sustainability, pp. 259-282.

Date

2024-01-01

Publisher

IGI Global

Coverage

Tantia V., Christ University, India; Sukanya R., Christ University, India

Rights

Restricted Access

Relation

ISBN: 979-836933772-1; 979-836933771-4

Format

Online

Language

English

Type

Book chapter

Identifier

https://doi.org/10.4018/979-8-3693-3771-4.ch010

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85207565949&doi=10.4018%2f979-8-3693-3771-4.ch010&partnerID=40&md5=ee08dd542febd7abb5c4839a96e75784