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New and existing companies are looking for ways to thrive in a competitive environment with innovative business models while respecting society and avoiding actions that harm the planet. Trends such as circular economy, fair trade, lowsumerism, and sharing economy are some of the many emerging entrepreneurial approaches that address this issue, but there is still a gap between what theory argues and the levels of environmental and social sustainability realized when theory is put into practice. In fact, most research on the topic of sustainable business models is still exploratory and does not fully acknowledge these emerging approaches, whose definitions, boundaries, and defining characteristics are still somewhat vague. This study seeks to contribute to the understanding of the inner entrepreneurial dynamics of innovative sustainable business models. In particular, we focus on the fashion business, a resource-intensive industry in which opportunities to reduce environmental impacts and to innovate business models abound. The aim of our research is to investigate innovative business models in the fashion industry that have sustainability as their defining characteristic, especially in terms of value proposition. In order to do that, we combine a systematic review of the literature with empirical research comprised of six interviews with specialists in sustainability, business model innovation, and the fashion industry, along with eight case studies on innovative fashion startups we define as 'born sustainable.' As a result, we propose a synthesizing framework that discloses trends and drivers of innovative and sustainable business models in the fashion industry. We also highlight opportunities and challenges for researchers and entrepreneurs interested in this topic.

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Theory discussing how to define and frame the relationship between the strategy making process (SMP) and business model innovation (BMI) is still incipient in the academic literature. Thus, this study aims at investigating the relationship between SMP and BMI by addressing (1) when firms engage in BMI within the overall SMP, and (2) how firms design a new business model (BM) or improve their current BM within the overall SMP. The research questions are tackled by means of a mixed‐method research, combining (1) a quantitative survey on 138 firms involved in SMP and BMI (to understand when BM design and improvement occur) and (2) a qualitative multiple‐case study focused on four firms (to address how BM design and improvement evolve). The findings empirically validate the arguments that BM design and improvement are more likely to be positioned in the strategic alternatives implementation step of the SMP, and BM is related to strategy execution; on top of this, light is shed on the inherent dynamics of the BMI process for different types of BMI.

Purpose Startups have attracted increased attention over the past years. While entrepreneurs develop startups to capture new business opportunities, also large companies are turning to these fast-growing organizations in efforts to become more agile. However, managing business model innovation and validation is challenging. A number of methodologies, like the Lean Startup (LS), emerged to reduce uncertainties concerning innovation-based projects, and to contribute to business model validation. Despite its popularity, the literature on the LS and its key underpinnings (Agile Methodologies and Customer Development) is sparse, lacking an integrated and structured analysis of their impacts and potentialities. The paper aims to discuss this issue. Design/methodology/approach The authors conducted a comprehensive systematic literature review on the topic fully analyzing a final set of 71 papers. Findings There is a turning point in the research stream’s maturity with publications in conferences and major journals, with the predominance of empirical investigations in the European region. Articles on the topic are on the rise in several technology fields. However, the literature on the subject falls short on providing guidance to assist practitioners and scholars on the adoption and investigation of these methodologies. Practical implications The paper provides guidance for practice by presenting a staircase roadmap for the LS implementation drawing from the final set of papers reviewed. Originality/value The study categorizes the current literature through a concept map, and offers a structured research agenda beyond the categories from the thematic analysis.