Sustainable innovation of industrial companies

Abstract

The objective of the paper is to dynamically capture the changes and trends in the innovation of business models of industrial enterprises, which owing to the incorporation of any other potential stakeholders in value creation, addresses the issue of limited resources for product innovation. The methodological objectives of the paper are based on the theory of systems approach and the Resource Base View (RBV). A primary literary source review on papers and studies published in peer-reviewed journals has been conducted. Our view, which has received increasing attention in the scientific literature, is associated with opportunities, but also barriers arising from the changes and trends in the environment as a challenge for sustainable innovation of the business model by means of finding a new space for innovation in areas where competition is not active. The main output show, that business models should be viewed from a dynamic perspective. The basis for this is the prospect of developing or innovating of the business model as a result of internal and external changes over time.