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Your Firm Needs a Sustainable Business Innovation Ecosystem

Author

Listed:
  • Shihong Zhang

    (Department of International Trade, Jiangxi Science and Technology Normal University, Nanchang 330038, China
    These authors contributed equally to this work.)

  • Min-Jae Lee

    (Department of Global Business, Mokwon University, Daejeon 35349, Republic of Korea
    These authors contributed equally to this work.)

  • Guanyu Chen

    (UQ Business School, The University of Queensland, Brisbane 4072, Australia)

  • Jin-Sup Jung

    (Department of International Business, Chungbuk National University, Cheongju 28644, Republic of Korea)

  • Moon Hwan Cho

    (Italian Studies Ingenium College of Convergence Studies, Hankuk University of Foreign Studies, Yongin-si 17035, Republic of Korea)

Abstract

There have been many discussions about the business ecosystem in order to promote the sustainable growth of firms recently. Business ecosystems have developed independently from three perspectives: business, innovation, and the platform ecosystem. However, considering the emergence of advanced technology and social values, there is a growing need to look at business ecosystems from an integrated point of view. Based on a new win–win platform combining these discussions, we have designed and demonstrated a sustainable business innovation ecosystem (SBIE) framework. Using the triple helix model, data were collected from 290 experts—industry (95), government (100), and university (95)—in Korea. Results show that firms should consider social values as well as economic values when building a SBIE. The findings also emphasize that performances are more effective when core agents of ecosystem build a win–win platform using the fourth industrial revolution (FIR) technology.

Suggested Citation

  • Shihong Zhang & Min-Jae Lee & Guanyu Chen & Jin-Sup Jung & Moon Hwan Cho, 2024. "Your Firm Needs a Sustainable Business Innovation Ecosystem," Sustainability, MDPI, vol. 16(24), pages 1-21, December.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:24:p:11217-:d:1549020
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