2022
DOI: 10.3390/su14159673
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Impact of Business Model Innovation on Sustainable Performance of Processed Marine Food Product SMEs in Thailand—A PLS-SEM Approach

Abstract: This study aims to develop four conceptual higher order models for assessing the causal relationship between the environmental turbulence (ET), sustainable competitive advantage (SCA), business model innovation (BMI), and sustainable performance (SP) of small and medium sized enterprises (SMEs). The conceptual models were developed through literature review and tested with 91 entrepreneurs and managers from processed marine food product SMEs in Thailand. The higher order models were tested with partial least s… Show more

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Cited by 14 publications
(15 citation statements)
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“…GLAM institutions more than any other can be an example of resilience but also of longevity as long as they preserve the artistic-cultural-literary heritage of an area made by the history of peoples (Silverman, 2009). This is why GLAMs first and foremost must actively adopt sustainable practices, recognizing the long-term efforts required for survival (Stylianou-Lambert et al, 2014;Loach et al, 2017;Rantala et al, 2018;Reficco et al, 2021;Madhavan et al, 2022;Franceschelli et al, 2018). The focus on resilient business models, sustainable funding and potential risks associated with private management reflects an awareness of the broader social impact of these institutions.…”
Section: Discussionmentioning
confidence: 99%
“…GLAM institutions more than any other can be an example of resilience but also of longevity as long as they preserve the artistic-cultural-literary heritage of an area made by the history of peoples (Silverman, 2009). This is why GLAMs first and foremost must actively adopt sustainable practices, recognizing the long-term efforts required for survival (Stylianou-Lambert et al, 2014;Loach et al, 2017;Rantala et al, 2018;Reficco et al, 2021;Madhavan et al, 2022;Franceschelli et al, 2018). The focus on resilient business models, sustainable funding and potential risks associated with private management reflects an awareness of the broader social impact of these institutions.…”
Section: Discussionmentioning
confidence: 99%
“…BMI is defined as improving a part of the business model to raise firm performance. It is also known as replacing the components of the company model by providing customers with goods and services that weren't previously available (Madhavan et al, 2022). BMI is an innovative approach to company that creates, disseminates, and accumulates value that is difficult to replicate (Madhavan et al, 2022).…”
Section: Business Model Innovation and Firm Performancementioning
confidence: 99%
“…It is also known as replacing the components of the company model by providing customers with goods and services that weren't previously available (Madhavan et al, 2022). BMI is an innovative approach to company that creates, disseminates, and accumulates value that is difficult to replicate (Madhavan et al, 2022). According to Pang et al, (2019) BMI can produce higher value creation and displace the conventional wisdom to set the benchmark for the industry.…”
Section: Business Model Innovation and Firm Performancementioning
confidence: 99%
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“…Product innovation is very important for businesses to prevent changing needs from consumers or customers, changes in the business environment, and industrial and technological advances. However, business model innovation is not necessarily understood as technological innovation; rather it is the "reinvention of business" itself [5]. Innovation has been widely discussed in various scientific and technical literature, including in social sciences and economics.…”
Section: Introductionmentioning
confidence: 99%