Role of sustainable business model, Industry 4.0, crowdfunding, and stakeholders' pressure toward firm's sustainability: A SEM‐ANN approach

IF 12.5 1区管理学 Q1 BUSINESS

Business Strategy and The Environment Pub Date : 2024-07-13 DOI:10.1002/bse.3869

Amin Ur Rahman, Fenghua Wen, Fiza Amjad

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引用次数: 0

Abstract

With growing global attention on achieving sustainable development goals, businesses worldwide face mounting pressures to incorporate sustainability into their business models and operations. However, despite the recognized importance of sustainability in modern manufacturing operations, the path toward embedding sustainability remains unclear and challenging for many manufacturing firms. Within the theoretical framework of dynamic capability theory and the imperative of sustainable development goals, this study investigates the influence of sustainable business models, crowdfunding, Industry 4.0 technologies, and stakeholders' pressure on the sustainable performance of manufacturing firms in Pakistan. Based on survey data from 370 small and medium enterprise owners and managers, our study utilized a hybrid approach by combining partial least squares–Structural equation modeling (SEM) and artificial neural networking techniques. The results emphasize a significant and positive impact of a sustainable business model on firm sustainability. Moreover, the findings reveal that Industry 4.0 technology and crowdfunding partially mediate the relationship between sustainable business models and sustainable performance, highlighting the significant role of advanced technologies and alternative financing. Besides, stakeholders' pressure emerges as a crucial moderator, further strengthening the relationship between sustainable business models and firm sustainability. This study advances knowledge of sustainable business actions within the firms and constitutes a valuable input for businesses, policymakers, and other stakeholders dedicated to enhancing sustainable growth in the manufacturing sector.

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可持续商业模式、工业 4.0、众筹和利益相关者对企业可持续发展的压力的作用：SEM-ANN 方法

随着全球对实现可持续发展目标的关注与日俱增，世界各地的企业都面临着越来越大的压力，必须将可持续发展融入其业务模式和运营中。然而，尽管可持续发展在现代制造业运营中的重要性已得到公认，但对于许多制造业企业来说，实现可持续发展的道路仍然不明朗且充满挑战。在动态能力理论和可持续发展目标的理论框架下，本研究调查了可持续商业模式、众筹、工业 4.0 技术和利益相关者的压力对巴基斯坦制造业企业可持续绩效的影响。基于对 370 名中小企业主和经理的调查数据，我们的研究采用了偏最小二乘法-结构方程建模（SEM）和人工神经网络技术相结合的混合方法。研究结果表明，可持续商业模式对企业的可持续发展具有重要的积极影响。此外，研究结果表明，工业 4.0 技术和众筹在一定程度上调节了可持续商业模式与可持续绩效之间的关系，凸显了先进技术和替代融资的重要作用。此外，利益相关者的压力也是一个重要的调节因素，进一步加强了可持续商业模式与企业可持续发展之间的关系。这项研究增进了对企业内部可持续商业行动的了解，为企业、政策制定者和其他致力于促进制造业可持续增长的利益相关者提供了有价值的信息。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Business Strategy and The Environment Multiple-

CiteScore

22.50

自引率

19.40%

发文量

336

期刊介绍： Business Strategy and the Environment (BSE) is a leading academic journal focused on business strategies for improving the natural environment. It publishes peer-reviewed research on various topics such as systems and standards, environmental performance, disclosure, eco-innovation, corporate environmental management tools, organizations and management, supply chains, circular economy, governance, green finance, industry sectors, and responses to climate change and other contemporary environmental issues. The journal aims to provide original contributions that enhance the understanding of sustainability in business. Its target audience includes academics, practitioners, business managers, and consultants. However, BSE does not accept papers on corporate social responsibility (CSR), as this topic is covered by its sibling journal Corporate Social Responsibility and Environmental Management. The journal is indexed in several databases and collections such as ABI/INFORM Collection, Agricultural & Environmental Science Database, BIOBASE, Emerald Management Reviews, GeoArchive, Environment Index, GEOBASE, INSPEC, Technology Collection, and Web of Science.