Journal of Entrepreneurship Research

Journal of Entrepreneurship Research

Corporate Sustainability in Knowledge-Based Companies: A Case Study of Khorasan Science and Technology Park

Document Type : Research Article

Authors
Mahdi Talebi
Fariborz Rahimnia
Yaghoob Maharati
Management Department, Faculty of Economics and Administrative Sciences, Ferdowsi University of Mashhad, Mashhad, Iran.
10.22034/jer.2025.2048575.1235
Abstract
Introduction: In today's world, with the accelerating pace of change in both internal and external organizational environments, identifying the factors that influence the preservation and development of organizational vitality has become particularly important. Business sustainability is recognized as one of the core pillars for assessing organizational growth and success, to the extent that in recent decades, it has even replaced traditional measures of organizational success. Furthermore, sustainability can be considered a guarantor of organizational continuity and sustainable growth. Accordingly, this study examines the impact of strategic flexibility on the sustainability of knowledge-based companies located in the Khorasan Province Science and Technology Park. Additionally, the mediating role of business model innovation and the moderating effect of environmental dynamism are also investigated.
Methodology: This research adopts a quantitative paradigm and employs a survey-analytical method for data collection and analysis. The target population consists of 55 active and mature knowledge-based companies in Khorasan Science and Technology Park. Using simple random sampling, a sample of 48 companies was selected based on Morgan’s table. The unit of analysis in this study is the organization. Data was gathered through a structured questionnaire, the validity of which was confirmed via Fornell-Larcker criteria and expert evaluation, while reliability was assessed using Cronbach’s alpha and composite reliability. Data analysis was performed using PLS-SEM and SPSS software.
Findings: The results indicate that strategic flexibility and business model innovation exert a positive and significant influence on corporate sustainability. Furthermore, business model innovation was confirmed as a mediator in the relationship between strategic flexibility and corporate sustainability. Additionally, environmental dynamics played a moderating role, strengthening the link between strategic flexibility and business model innovation.
Conclusion/ Implications: The findings underscore the critical role of environmental factors in shaping business strategies. In today’s dynamic landscape, knowledge-based firms must cultivate strategic flexibility at the leadership level to swiftly adapt to environmental shifts. Business model innovation, which entails novel value-creation mechanisms, can provide a competitive edge. Moreover, environmental dynamics are a pivotal determinant of success, as rapid market changes necessitate agile and effective responses. This study offers recommendations for future research on the interplay between environmental factors and corporate sustainability. It also suggests that knowledge-based companies establish R&D units to explore and leverage innovative business models for sustained growth.
Keywords
Strategic Flexibility
Corporate Sustainability
Business Model Innovation
Environmental dynamics
Knowledge-based companies

Subjects

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  • Receive Date 22 December 2024
  • Revise Date 20 January 2025
  • Accept Date 26 January 2025