Facing TBL with IoT: creating value and positively impacting business processes

Abstract

Purpose The purpose of this study is to analyze how Internet of Things can contribute to the achievement of a sustainable development based on people, profit and planet. Based on the triple bottom line theoretical framework, this work explores the relation between technology and the creation of value in management operative and support processes carried out by a firm with a direct impact in society and the environment. By doing so, new insights on strategic management to create value and consolidate sustainable business models are provided. Design/methodology/approach The present study analyzes firms within the context of the European Union, considering the involvement of the region in achieving sustainable development, in particular, the usage of technology and specifically Internet of Things to create value and contribute to company’s position as leaders in the industry’s change toward sustainable development. To achieve this goal, the Spanish market was analyzed, specifically companies who were publicly listed in the IBEX35, which is the benchmark stock market index of Spain’s main stock exchange (Bolsa de Madrid). In addition, firms were also considered regarding the strong impact within their industries not only nationally, but also worldwide. Findings Findings show that companies incorporating Internet of Things can enhance their role as leaders in change toward sustainable development. Similarly, the usage of these technologies positively impacts the pollution reduction and limiting usage of non-renewable resources, as well as positively impacting people’s lives. Furthermore, technology has a positive effect on the creation of value, considering management, operative and support processes. By considering people and planet, companies can have a profitable business model that is also sustainable in the long-run, creating a win-win situation within the triple bottom line. Originality/value This study shows the links between Internet of Things and sustainable development within the framework of the triple bottom line. It portrays the relevance of technology in value creation to achieve business models that can cater to profit, people and planet objectives. Consequently, practitioners can incorporate Internet of Things elements to create value and contribute to their corporate social responsibility objectives, establishing synergies between managerial and socio-environmental aspects. Moreover, researchers studying business strategy can incorporate these variables to further enlarge the results herein derived. Finally, this work reinforces the usage of triple bottom line theory to analyze a firm’s sustainable development and its business models.

The interplay among green absorptive capacity, green entrepreneurial, and learning orientations and their effect on triple bottom line performance

“…Having said this, this paper responds to the call for research on the possible antecedents of TBL performance (Lin et al, 2022;Liute & De Giacomo, 2022;Mattera & Gava, 2021;Walker et al, 2021) and how intragreen organizational capabilities not yet studied may affect TBL (Asiaei et al, 2022;Khan, Yu, & Farooq, 2023;Yee et al, 2021;Zhang et al, 2020). In addition, this research is timely with the worldwide adoption of the 2030 Agenda for Sustainable Development (SDGs UN Website, 2022), in addition to the recent COP27 that emphasized the role of the private sector in tackling environmental challenges through various green strategies (COP27 website, 2022).…”

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