Disruptive events as catalysts or disruptors to developing sustainable and resilient business models

Abstract

Today’s business environment is characterized by volatility and uncertainty, such as economic crises, technological evolutions, pandemics, wars, corporate scandals, etc. These disruptive events challenge conventional business paradigms, presenting both unabating threats and opportunities for business model obsolescence or transformation. Our study explores the paradoxical role of disruptive events as disruptors and catalysts for creating sustainable and resilient business models through a narrative scientific literature overview. The study analyses some critically relevant academic literature to identify the critical mechanisms through which businesses transform and adapt their functional frameworks during a crisis. The insightful findings indicate that disruption catalyses business model transformation via forced experimentation, market shifts, behaviours, and reactions to regulatory changes. Conversely, disruptions displace business models through disruptive technology, economic dilemmas, shifting marketing trends, regulatory changes, health crises, and environmental and social dynamics. The overview characterizes strategic agility in leadership and operations, resource-based view, business continuity planning, and circular economy principles supported by dynamic capabilities for resilience, sustainability for competitive advantage, customer-centric approach, collaborations, networks, and partnerships, as well as monitoring and managing risk as pillars of a sustainable and resilient business model framework.