IDEAS home Printed from https://ideas.repec.org/p/cdf/wpaper/2025-2.html
   My bibliography  Save this paper

Open Innovation and Entrepreneurship: A Review from the Perspective of Sustainable Business Models

Author

Listed:
  • Huang, Jiayi

    (Cardiff Business School)

  • Zhou, Peng

    (Cardiff Business School)

Abstract

Open innovation serves as a critical pathway for aligning Sustainable Business Models (SBMs) with the dual imperatives of the sustainable economy and the digital economy. This editorial review synthesizes insights from theoretical frameworks, particularly the Resource-Based View (RBV) and Transaction Cost Theory (TCT), integrated with the Technology-Organization-Environment (TOE) framework to explore the mechanisms driving open innovation. Our editorial review highlights key dimensions influencing open innovation: technology (digital platforms, emerging technologies like AI, IoT, and blockchain), organization (stakeholder collaboration, governance mechanisms), and environment (regulatory frameworks, market dynamics, and industrial spillovers). This unified framework offers actionable insights for policymakers to foster enabling ecosystems and for business leaders to adopt open innovation strategies for resource optimization and governance improvement. The review concludes that the RBV-TCT-TOE framework provides a generalizable and robust tool for understanding and advancing open innovation across industries and regions, bridging theoretical and practical dimensions to address the challenges of sustainability and digital transformation.

Suggested Citation

  • Huang, Jiayi & Zhou, Peng, 2025. "Open Innovation and Entrepreneurship: A Review from the Perspective of Sustainable Business Models," Cardiff Economics Working Papers E2025/2, Cardiff University, Cardiff Business School, Economics Section.
    • Handle: RePEc:cdf:wpaper:2025/2
    as

    Download full text from publisher

    File URL: http://carbsecon.com/wp/E2025_2.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Roberto Vivona & Mehmet Akif Demircioglu & David B. Audretsch, 2023. "The costs of collaborative innovation," The Journal of Technology Transfer, Springer, vol. 48(3), pages 873-899, June.
    2. Franziska Mais & Thomas Bauernhansl, 2024. "Design Options for Sustainable and Open Business Models: A Taxonomy-Based Analysis," Sustainability, MDPI, vol. 16(11), pages 1-24, June.
    3. Laura Mariani & Benedetta Trivellato & Mattia Martini & Elisabetta Marafioti, 2022. "Achieving Sustainable Development Goals Through Collaborative Innovation: Evidence from Four European Initiatives," Journal of Business Ethics, Springer, vol. 180(4), pages 1075-1095, November.
    4. Zhongyuan Sun & Di Hu & Xuming Lou & Yucheng Li, 2023. "The Impact of User Benefits on Continuous Contribution Behavior Based on the Perspective of Stimulus–Organism–Response Theory," Sustainability, MDPI, vol. 15(20), pages 1-26, October.
    5. Riikka Tapaninaho & Anna Heikkinen, 2022. "Value creation in circular economy business for sustainability: A stakeholder relationship perspective," Business Strategy and the Environment, Wiley Blackwell, vol. 31(6), pages 2728-2740, September.
    6. Junli Wang & Wendong Lv, 2023. "Research on the Impact of Green Innovation Network Embeddedness on Corporate Environmental Responsibility," IJERPH, MDPI, vol. 20(4), pages 1-28, February.
    7. Samuel Plečko & Polona Tominc & Karin Širec, 2023. "Digitalization in Entrepreneurship: Unveiling the Motivational and Demographic Influences towards Sustainable Digital Sales Strategies," Sustainability, MDPI, vol. 15(23), pages 1-19, November.
    8. Kull, Alexander J. & Mena, Jeannette A. & Korschun, Daniel, 2016. "A resource-based view of stakeholder marketing," Journal of Business Research, Elsevier, vol. 69(12), pages 5553-5560.
    9. Zhang, Ying & Tavalaei, M. Mahdi & Parry, Glenn & Zhou, Peng, 2024. "Evolution or involution? A systematic literature review of organisations' blockchain adoption factors," Technological Forecasting and Social Change, Elsevier, vol. 208(C).
    10. Carlsson, Bo, 2004. "The Digital Economy: what is new and what is not?," Structural Change and Economic Dynamics, Elsevier, vol. 15(3), pages 245-264, September.
    11. Ying Li & Li Cui & Lin Wu & Paul Benjamin Lowry & Ajay Kumar & Kim Hua Tan, 2023. "Digitalization and network capability as enablers of business model innovation and sustainability performance : The moderating effect of environmental dynamism," Post-Print hal-04371846, HAL.
    12. Gerard George & Ryan K. Merrill & Simon J. D. Schillebeeckx, 2021. "Digital Sustainability and Entrepreneurship: How Digital Innovations Are Helping Tackle Climate Change and Sustainable Development," Entrepreneurship Theory and Practice, , vol. 45(5), pages 999-1027, September.
    13. Khaled Tekala & Sarvnaz Baradarani & Ahmad Alzubi & Ayşen Berberoğlu, 2024. "Green Entrepreneurship for Business Sustainability: Do Environmental Dynamism and Green Structural Capital Matter?," Sustainability, MDPI, vol. 16(13), pages 1-24, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yi Liang & Jung-Mo Koo & Min-Jae Lee, 2024. "The Interplay of Environmental Dynamism, Digitalization Capability, Green Entrepreneurial Orientation, and Sustainable Performance," Sustainability, MDPI, vol. 16(17), pages 1-17, September.
    2. Chutima Suchitwarasan & Emre Cinar & Chris Simms & Mehmet Akif Demircioglu, 2024. "Innovation for sustainable development goals: a comparative study of the obstacles and tactics in public organizations," The Journal of Technology Transfer, Springer, vol. 49(6), pages 2234-2259, December.
    3. Lingzhang Kong & Jinye Li, 2022. "Digital Economy Development and Green Economic Efficiency: Evidence from Province-Level Empirical Data in China," Sustainability, MDPI, vol. 15(1), pages 1-26, December.
    4. Jinshan Zhang & Man Liu, 2024. "How to Leverage Digital Sustainability Orientation to Promote Environmentally Sustainable Practices of Manufacturing Enterprises in China," Sustainability, MDPI, vol. 16(12), pages 1-20, June.
    5. Muhammad Farooq Islam & Ozge Can, 2024. "Integrating digital and sustainable entrepreneurship through business models: a bibliometric analysis," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 14(1), pages 1-18, December.
    6. Yao Zhao & Xuena Kong & Mahmood Ahmad & Zahoor Ahmed, 2023. "Digital Economy, Industrial Structure, and Environmental Quality: Assessing the Roles of Educational Investment, Green Innovation, and Economic Globalization," Sustainability, MDPI, vol. 15(3), pages 1-24, January.
    7. Ran, Qiying & Yang, Xiaodong & Yan, Hongchuan & Xu, Yang & Cao, Jianhong, 2023. "Natural resource consumption and industrial green transformation: Does the digital economy matter?," Resources Policy, Elsevier, vol. 81(C).
    8. Shekhar Rathor & Mingyu Zhang & Taehoon Im, 2023. "Web 3.0 and Sustainability: Challenges and Research Opportunities," Sustainability, MDPI, vol. 15(20), pages 1-17, October.
    9. Lee, Liane W.Y. & Tang, Yiming & Yip, Leslie S.C. & Sharma, Piyush, 2018. "Managing customer relationships in the emerging markets – guanxi as a driver of Chinese customer loyalty," Journal of Business Research, Elsevier, vol. 86(C), pages 356-365.
    10. Alterskye, Alex & Fuller, Ted & Caputo, Andrea, 2023. "Field dynamics as context – A multi-perspective combined analysis of the effects of context on entrepreneurship," Journal of Business Venturing Insights, Elsevier, vol. 20(C).
    11. Godart, Frédéric & Pistilli, Luca, 2024. "The multifaceted concept of disruption: A typology," Journal of Business Research, Elsevier, vol. 170(C).
    12. Marek Krok & Paweł Majewski & Wojciech P. Hunek & Tomasz Feliks, 2022. "Energy Optimization of the Continuous-Time Perfect Control Algorithm," Energies, MDPI, vol. 15(4), pages 1-13, February.
    13. Adel Ben Youssef & Ludovic Ragni, 2008. "Uses of Information and Communication Technologies in Europe's Higher Education Institutions: From Digital Divides to Digital Trajectories," Post-Print halshs-00937212, HAL.
    14. Inhye Yoo & Chan-Goo Yi, 2022. "Economic Innovation Caused by Digital Transformation and Impact on Social Systems," Sustainability, MDPI, vol. 14(5), pages 1-18, February.
    15. Klaus E. Meyer & Jiatao Li & Keith D. Brouthers & Ruey-Jer ‘‘Bryan’’ Jean, 2023. "International business in the digital age: Global strategies in a world of national institutions," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(4), pages 577-598, June.
    16. Crick, James M. & Crick, Dave, 2021. "The dark-side of coopetition: Influences on the paradoxical forces of cooperativeness and competitiveness across product-market strategies," Journal of Business Research, Elsevier, vol. 122(C), pages 226-240.
    17. Karolina Bähr & Alexander Fliaster, 2023. "The twofold transition: Framing digital innovations and incumbents' value propositions for sustainability," Business Strategy and the Environment, Wiley Blackwell, vol. 32(2), pages 920-935, February.
    18. Lorenzo Ardito, 2023. "The influence of firm digitalization on sustainable innovation performance and the moderating role of corporate sustainability practices: An empirical investigation," Business Strategy and the Environment, Wiley Blackwell, vol. 32(8), pages 5252-5272, December.
    19. Fazal Ur Rehman & Basheer M. Al-Ghazali & Adel Ghaleb Haddad & Ehab Abdullatif Qahwash & M. Sadiq Sohail, 2023. "Exploring the Reverse Relationship between Circular Economy Innovation and Digital Sustainability—The Dual Mediation of Government Incentives," Sustainability, MDPI, vol. 15(6), pages 1-21, March.
    20. Fengge Yao & Ying Song & Xiaomei Wang, 2023. "How the Digital Economy Empowers the Structural Upgrading of Cultural Industries—An Analysis Based on the Spatial Durbin Model," Sustainability, MDPI, vol. 15(19), pages 1-17, October.

    More about this item

    Keywords

    Open Innovation; Entrepreneurship; Sustainable Business Model;
    All these keywords.

    JEL classification:

    • O36 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Open Innovation

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cdf:wpaper:2025/2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Yongdeng Xu (email available below). General contact details of provider: https://edirc.repec.org/data/ecscfuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.