Conceptualizing Sustainable Business Models Aligning with Corporate Responsibility

Abstract

Our research is dedicated to developing sustainable business models (SBMs). In this study, we review numerous empirical articles, reviews, and papers on SBMs, including 17,412 SCIE articles and 17,237 SSCI papers, published between 2009 and 2023. Our research provides guidance on how to achieve and maintain sustainability. We identify the most effective practices for conceptualizing an SBM. Our citations of over 130 articles highlight the importance of integrating corporate actions and consequences across the environmental, societal, and economic spheres, while also considering stakeholder engagement and long-term perspectives. We also emphasize the need to move beyond the traditional dichotomous treatment of SBMs and reflect more contemporary practices. To provide a more practical explanation, we use fuzzy set qualitative comparative analysis to predict the future evolution of SBMs from a corporate responsibility perspective, drawing on the lessons of the China phenomenon. This approach clarifies how the theoretical and practical elements obtained from the literature correspond with the new SBMs.