Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/309997 
Year of Publication: 
2025
Series/Report no.: 
Cardiff Economics Working Papers No. E2025/2
Publisher: 
Cardiff University, Cardiff Business School, Cardiff
Abstract: 
Open innovation serves as a critical pathway for aligning Sustainable Business Models (SBMs) with the dual imperatives of the sustainable economy and the digital economy. This editorial review synthesizes insights from theoretical frameworks, particularly the Resource-Based View (RBV) and Transaction Cost Theory (TCT), integrated with the Technology-Organization-Environment (TOE) framework to explore the mechanisms driving open innovation. Our editorial review highlights key dimensions influencing open innovation: technology (digital platforms, emerging technologies like AI, IoT, and blockchain), organization (stakeholder collaboration, governance mechanisms), and environment (regulatory frameworks, market dynamics, and industrial spillovers). This unified framework offers actionable insights for policymakers to foster enabling ecosystems and for business leaders to adopt open innovation strategies for resource optimization and governance improvement. The review concludes that the RBV-TCT-TOE framework provides a generalizable and robust tool for understanding and advancing open innovation across industries and regions, bridging theoretical and practical dimensions to address the challenges of sustainability and digital transformation.
Subjects: 
Open Innovation
Entrepreneurship
Sustainable Business Model
Document Type: 
Working Paper

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