| Abstract [eng] |
Implementation of sustainable business models (SBMs) is an important solution to the growing demand for organisations to reconcile economic performance with environmental responsibility and social value creation. International companies operate across many borders and complex regulatory, competitive, and social environments. It has become necessary to shift from only economic achievement to an integrated approach, where the core business strategy achieves integrated objectives. This has become one of the defining management challenges to address the needs of the current generations without compromising those of future generations. This thesis investigates how sustainable business models should be implemented in international companies. It investigates the link between internal and external factors that shape the process of implementation, the barriers that are associated with it, and the effectiveness of this implementation. These study objectives were achieved through the review of existing literature on the concept, analysis of empirical research by various authors, and an empirical research by the author guided by five hypotheses forming the basis of an empirically tested research model. Quantitative research was used, with data collected from 137 respondents across international and local companies of varying sizes and sectors in Lithuania and Ghana. The survey measured perceptions of respondents on internal factors, external factors, barriers, SBM implementation, and SBM effectiveness. The data were analyzed using descriptive statistics, multiple regression, and mediation analysis. Internal factors were the strongest predictor of SBM implementation. Top management support, organizational culture, employee engagement, and internal resources collectively predicted SBM implementation. This confirms that the implementation of sustainable business models basically starts from within the organization and reflects out there as evidence of integrated performance. External factors such as regulation, customer demand, and competitive pressure also positively influenced implementation. They independently contribute to the implementation process and its effectiveness, but are reduced considerably when modelled alongside internal factors. The result of this finding suggests external pressures are most effective when internal readiness and action exist. Barriers such as high implementation costs, resistance to change, and supply chain limitations were found to influence SBM effectiveness directly in a positive direction instead of the conventional negative influence when combined with internal factors, external factors, and SBM implementation to achieve SBM effectiveness. This result confirms the theory of dynamic capabilities that barriers, when proactively managed as part of the implementation strategy, produce greater results. This works better when the integrated model is a core strategy, and leadership also builds a strong organizational culture. Barriers, when handled with proactiveness, lead to limitless opportunities. The SBM implementation itself was found to partially mediate the relationship between internal and external factors and effectiveness. This confirms existing literature that favourable conditions, when actively converted into practice, produce meaningful outcomes. Company size and industry sector did not influence implementation effectiveness, affirming that SBM implementation is accessible to organizations regardless of size or sector. The thesis provides an empirically tested model that integrates internal factors, external factors, barriers, and implementation quality within a unified framework. The model offers practical guidance for managers, policymakers, and researchers pursuing sustainable business transformation. |
