Finance, Accounting and Business Analysis (May 2024)
Driving Sustainable Business Models in Indonesian Emerging Markets: An Empirical Analysis
Abstract
Background: Sustainability has proven to be one of the most concerning issues in modern business. Many organizations strive to gain a competitive advantage by employing more sustainable business models and strategies. This empirical research paper aims to explore the dynamics of sustainable business models in Indonesian emerging markets. Purpose: The research analyzes the key factors affecting sustainable business models in Indonesian emerging markets. In addition, this paper evaluates the impact of sustainable business practices on business performance and whether they have been implemented. Consequently, the research also highlights and give major insights into developing innovative business models to empower sustainability in these markets. Methodology: The methodology used in this study is a mixed-method approach. Through this, the researcher can use qualitative data sources. The primary data sources include statistical data, surveys, and interviews with key stakeholders in Indonesian emerging markets. Secondary data sources such as academic literature and industry publications are also significant in getting further information for this research. The study probes into the changing aspects of legitimate business models within the conditions of Indonesian arising markets. Precisely, it enlightens on the complex facts of sustainability operations embraced by corporations managing within these markets. Essential subjects of scrutiny comprise the businesses themselves, partners actively engaged in developing sustainability and valued industry specialists. To ensure an extensive analysis, the methodology used outlines certain tasks necessary for achieving its aims. These tasks entail a meticulous evaluation of the existing written work, accurate data collection attempts, rigorous techniques of data analysis and introspective analysis of the findings. Practically, the study engages a powerful framework consisting of carefully crafted designs of research. These methodologies are fitted to the distinctive background of the Indonesian emerging markets. Findings: The research has numerous findings surrounding the various factors influencing sustainable business models in emerging Indonesian markets. These variables include economic, various market dynamics, and environmental, social, and technological factors. These factors have resulted in various outcomes in the country. In addition, there are extra factors such as infrastructure and logistics, political and regulatory factors, and financial performance. Notably, the statistical analyses reveal the significance of these variables in shaping sustainable business models in the country. Implications: The findings of this study have both practical and theoretical implications. With many countries and agencies advocating for the use of sustainable business, this is a huge issue. Businesses operating in Indonesian emerging markets can use the insights to develop more sustainable and profitable business models. Nonetheless, from the theoretical perspective, the research contributes to understanding sustainable business models in emerging markets and provides a framework for future research in this field. Originality/Value: This research contributes significant value to society. It offers original insights into sustainable business models in Indonesian emerging markets, where limited empirical studies have been conducted. The comprehensive analysis of various variables and their statistical significance adds value to the existing knowledge on sustainability in emerging markets.
