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The Varying Effects of Four Components of Employee Psychological Capital on Sustainable-Business-Model Innovation in the New Normal

Author

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  • Yinan Shan

    (International College, Dhurakij Pundit University, Bangkok 10210, Thailand)

  • Tachia Chin

    (School of Management, Zhejiang University of Technology, Hangzhou 310014, China)

  • Nomagugu Mutsvene

    (School of Management, Zhejiang University of Technology, Hangzhou 310014, China)

Abstract

In view of the intensification of market uncertainty and complexity, interest in sustainable-business-model innovation (SBMI) has increased among both global companies and educational institutions in the new normal . However, although many organisations find it challenging to accomplish their sustainability goals, limited research has delved into SBMI in the post-pandemic era. To address this research gap, we adopt a unique micro-foundational approach to investigate how the four components of employees’ psychological capital (PsyCap) affect SBMI. Based on a primary survey of 430 employees of small and medium-sized Chinese enterprises using online and offline methods, we used structural equation modelling to analyse the results. We found that optimism, hope, and self-efficacy were each positively related to SBMI, with resilience moderating these positive associations. The main theoretical contribution of our study is the use of a micro-foundational approach to unravel the different effects of the four dimensions of PsyCap on SBMI, thus offering novel insights into a deeper, more comprehensive understanding of relevant issues in the age of the COVID-19 pandemic. Practically, our findings can help global managers to develop strategies to leverage the psychological resources of individuals in order to cope with firm-level innovation challenges during this turbulent time.

Suggested Citation

  • Yinan Shan & Tachia Chin & Nomagugu Mutsvene, 2023. "The Varying Effects of Four Components of Employee Psychological Capital on Sustainable-Business-Model Innovation in the New Normal," Sustainability, MDPI, vol. 15(15), pages 1-14, July.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:15:p:11787-:d:1207391
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    References listed on IDEAS

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