| Title | Green Business Model Innovation: Enhancing Business Processes Through Application Of Artificial Intelligence In Order To Reduce The Ecological Footprint |
|---|---|
| ID_Doc | 78485 |
| Authors | Weiss, PV; Scheiblich, M; Buzatu, AI; Costache, IC |
| Title | Green Business Model Innovation: Enhancing Business Processes Through Application Of Artificial Intelligence In Order To Reduce The Ecological Footprint |
| Year | 2019 |
| Published | |
| Abstract | Business Model Innovation today is mostly driven through software-based solutions which are used to digitize business processes, mostly leading towards a digital transformation of an enterprise. That transforms the existing business models either in incremental steps or in a radical way by creating and introducing entirely new value propositions to business concepts. Whilst entrepreneurship has the target to maximize margins, the ecological footprint often is not considered in the focus of business strategies. The only restrictions in terms of sustainability the majority of companies comply with are those given through regulations by the government in order to be compliant under the terms of corporate social responsibility. The barriers corporations are facing in the attempt to transform their business into a green business model has several occasions, essentially it is the trepidation of financial effort to transform the existing business models into green ones. Furthermore, there is a shortage of knowledge, awareness and skills within the entire value chain of companies to implement green business models (Bisgaard, T. et al., 2012). The approach to improve the ecological footprint of business processes is still not exhausted and explored in the industry yet. The approach to establish an eco-friendly business is still overruled by the greed for profits of the shareholders. The authors of this paper will use a descriptive research method and an inductive approach to investigate and present the contribution of artificial intelligence on the innovation of green business models and their impacts on sustainable business processes and operations. |
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