Those Who Mind Matter: The Relationship Between Stakeholder Demands, Business Model Innovation, and Corporate Sustainability

Abstract

ABSTRACT This study explores how the characteristics of the stakeholder environment shape business model innovation and corporate sustainability by analysing survey responses from 870 top and middle managers in Denmark, Norway, and Sweden. The findings demonstrate that the level and consistency of stakeholder demands are positively related to business model innovation and corporate sustainability. In environments with high stakeholder demands, organizations are more likely to innovate business models and pursue sustainability activities. Moreover, the moderating effect of resource availability is positive for the level of stakeholder demands but negligible for demand consistency. The study provides new insights on the stakeholder‐related antecedents of business model innovation. Moreover, it contributes to corporate sustainability research by indicating that the level and consistency of stakeholder demands in general influence commitment to corporate sustainability. Demanding stakeholders are an important driver of organizational changes.

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