Sustainability | Free Full-Text | What You Get Is What You See—The Mutual Relationships between Images of Human Nature and Business Model Innovation

By inergency On Feb 5, 2024

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1. Introduction

Business model innovation is increasingly seen as a promising orchestrator on the path towards a sustainable economy and society. So far, scholars have profoundly analysed the factors that influence business model innovation, such as regulatory, technological, and financial dimensions. However, images of human nature have not been considered as elements that affect business model innovation. This is surprising because “Images of humankind which are dominant in a culture are of fundamental importance because they underlie the ways in which the society shapes its institutions, educates its young, and goes about whatever it perceives its business to be” [1] (p. 201). Images of human nature are usually taken so much for granted that they are hardly ever consciously reflected upon or questioned, even though they fundamentally affect human life in almost every context [1,2,3]. For example, societal assumptions about human beings’ needs, desires, abilities, and characteristics are highly relevant to business research and practice [4,5], as economic decisions are profoundly shaped by (among other things) assumptions about humanity and its role in the world.

Introducing the concept of images of humankind into business model innovation research bears considerable potential: First, it enriches the theoretical foundation of innovation theory by adding a critical dimension that affects business model innovation. This elaboration helps to explain why environmental, social, and economic business model innovations have been adopted to varying degrees in practice [6,7]. As sustainability transformation requires all three sustainability pillars [8], it is highly relevant for scholars to examine how entrepreneurs’ images of human nature shape business model innovation [9,10]. Second, theorising on the mutual relationships between the two concepts fundamentally affects policy implications, inspiring practitioners to establish novel business models for sustainability transformations.

Hence, this article raises the questions: How do images of human nature affect business model innovation? And how does business model innovation shape images of human nature? The article builds on a non-empirical conceptual modelling approach in order to synthesise business model innovation research and the literature on images of human nature.

The remainder is structured as follows: First, the article provides insights into the current research on business model innovation, as well as an overview of the already researched factors that influence decision-making in business model innovation, while it becomes clear that the current theory on business model innovation lacks a critical dimension: images of human nature. This builds the foundation for introducing the theory on the sociological concept of the image of human nature. The next section provides insights into conceptual modelling as a non-empirical approach to analysing the mutual relationships between the two domains of research. The main part of this article presents the findings by elaborating on the four forces that characterise the relationships between images of human nature and business model innovation: enabling, obstructing, confirming, and challenging. The article also delineates business models corresponding to each of the distilled images of human nature and recaps which images bear the greatest potential for profoundly pushing forward sustainability transformation. Finally, a discussion of the critical implications for research, policymakers, and practice concludes the paper.

This article is the first that (1) introduces images of human nature into business model research and (2) models their mutual relationships in a detailed way. The insights support researchers and practitioners in understanding how images of human nature affect business model innovation and why some business model innovations (such as community-supported ones) are relatively rarely put into practice, as they build on uncommon images of human nature.

2. Background

Business models capture a business’ architecture and describe how a company proposes, creates, and delivers value [8,11]. Faced with worldwide environmental and societal challenges, entrepreneurs increasingly aim to build environmentally, socially, and economically sustainable business models [12,13,14]. Schaltegger, Hansen, and Lüdeke-Freund [15] (p. 6) explain that “a business model for sustainability helps describing, analyzing, managing, and communicating (i) a company’s sustainable value proposition to its customers, and all other stakeholders, (ii) how it creates and delivers this value, (iii) and how it captures economic value while maintaining or regenerating natural, social, and economic capital beyond its organizational boundaries”. Increasing scholarly interest continues to drive research on sustainable business models as an emerging field [11,16].

Scholarly attention has recently moved toward the question of how businesses can adjust their existing business models or develop novel business models to achieve positive environmental, social, and economic impacts [15,16]. This is referred to as business model innovation for sustainability transformation. Sustainable business model innovation is becoming increasingly important as a sub-field of sustainable business model research [11]. Entrepreneurs modify business architectures using iterative experimenting processes, as well as by changing how businesses propose, create, and capture value [17,18,19]. Sustainable business model innovation can be “a way to gain competitive advantage while resolving social and environmental issues” [16] (p. 2). In their seminal article on business model archetypes, Bocken and colleagues (2014) [6] provide valuable examples of sustainable innovations. Sustainable business model innovation is a complex multi-level task that requires substantial modifications to a business’ core architecture, which makes it comparatively more challenging than product or process innovation.

Business model innovation requires careful decision-making because it can create both positive and negative outcomes for the environment, society, and economy [20,21,22,23]. During the decision-making phase, entrepreneurs decide whether and how a suggested business model innovation will be implemented. Scholars have comprehensively examined internal and external drivers and barriers affecting decision-making in business model innovation [16,24]. External forces encompass, e.g., regulatory, technological, or environmental changes [24,25]. Internal forces relate, for example, to managerial inertia, capabilities, and financial dimensions [7,22]. Laukkanen and Patala [24] have identified entrepreneurial attitudes, values, and customer acceptance as critical forces affecting business model innovation decision-making. Bocken and Geradts [16] provide an even more comprehensive overview of the human capabilities critical to decision-making in business model innovation.

Despite this considerable interest in the drivers of and barriers to business model innovation, researchers have not yet explored the role of images of human nature in business model innovation. This is astonishing because images of human nature affect decision-making in almost every context [1,3,26]. Images of human nature refer to beliefs about human skills and interactions with others [3]. They capture assumptions about the “true” nature of human beings, “as to whether we are basically good or evil, whether our will is free or is determined by external forces, whether we are cooperative or competitive, whether we are essentially equal, and so on” [1] (p. 2). A consistent image of human nature can be held by individuals or a group of people [2].

Perceptions of humankind can fundamentally vary across individuals, groups, or societies [27,28,29]. Moreover, these are evolving rather than static, meaning that the images of human nature held by individuals or societies usually change over time [4,30]. Sociological researchers have examined these changes at the societal level and crystallised distilled and relatively pure types of images of human nature [1]. Four of these fundamentally affect society:

(1): The image of the human as an instinct driven animal emerged during the industrial era with the rise of Darwinism [28,29]. It regards humans as subject to animal instincts. Charles Darwin highlighted the need for competition and natural selection in the natural world, describing the human being as a beast, predator, and aggressor [30].
(2): The image of the human as an unconscious machine arose in the 20th century from behaviourism [1,30]. Behaviourists criticise consciousness and instinctive thought as black boxes with unknown outcomes, while they regard human beings as blank slates that can be arbitrarily shaped by conditioning, i.e., controlling individuals by rewarding them for desirable behaviour [31,32]. This image of human nature affects people’s lives to this day, e.g., through incentive systems at school or work [30,31,32] or in food purchase behaviour [33].
(3): The image of the human as a social person originated from humanism and ascribed intellectual and communicative abilities to human beings [34,35]. Emerging in the 18th century, it stood in sharp contrast to the enslaving and dehumanising image of human nature in the Industrial Revolution. Proponents of this image stress that all humans belong to the same species and should treat each other equally—regardless of race. While the humanist image of human nature as it relates to social personhood intensively influences vast parts of society and politics, it has yet to fully saturate modern business practices [3,36].
(4): The human as an evolving holon came into existence with the rise of systems theory [37]. The term holon stems from the Greek holos, which means “whole”. It ends with the suffix “on”, meaning it refers to a part. Proponents of this view understand the world as “an integrated whole of organised complexity” [1] (p. 32) and not just a sum of simple components. Accordingly, they see the individual human being as a goal-directed, adaptive learning system within a larger system [37,38]. Scholars can only understand this system in the context of larger systems and their interactions with other ones. Although this view of human nature was developed as an alternative to Darwinian and behavioural thinking and is highly relevant to society, it is not yet widespread in practice [1,38]. Gallifa [37] even argues that this view of human nature can go beyond current worldviews, e.g., it can overcome anthropocentrism and humanism to contribute to a profound sustainable and ethical transformation.

As entrepreneurs do not always possess the comprehensive information necessary for well-informed decision-making, and because collected information is rapidly obsolete due to dynamic, complex, and drastic changes in the business environment, entrepreneurs rely on subjective assumptions and personal beliefs about customers—or more generally about human beings, i.e., their image of human nature. Hence, this study proposes that images of human nature play an important role in decision-making in business model innovation. As this role has not been explored so far, this study conceptually introduces the sociological concept of images of human nature to business model innovation and examines their mutual relationships.

3. Method

This study employs a conceptual, i.e., non-empirical research approach. Informed by the theoretical perspective of interpretivism, this manuscript argues that the image of human nature constitutes an important factor that influences business model innovation. As outlined in the previous section, images of human nature have, to date, not been considered as factors that influence decision-making in business model innovation research. Hence, this conceptual article applies conceptual modelling in order to (1) introduce the theory of images of human nature into business model innovation literature, (2) analyse their mutual relationships, and to (3) carve out business model innovations corresponding to each of the four images of human nature.

According to Jaakkola [39], conceptual modelling seeks to develop a theoretical framework that indicates mutual relationships between two concepts and their causal linkages and underlying mechanisms. “A model paper identifies previously unexplored connections between constructs, introduces new constructs, or explains why elements of a process lead to a particular outcome” [39] (p. 24). Thereby, conceptual modelling supports linking two or more separate or dissenting theories in a novel way by summarising and integrating both fields. Modelling allows researchers a higher degree of creativity beyond data-related boundaries, which makes this approach perfectly suitable for exploring emerging subjects where few empirical data are accessible.

In this article, conceptual modelling supports synthesising business model innovation research and sociological concepts of the image of human nature. Thereby, it offers a novel and complete view of the factors that influence business model innovation. This approach leads to identifying the four forces that characterise the relationship between business model innovation and images of human nature: enabling and constructing (as drivers) and confirming and challenging (as barriers). Finally, conceptual modelling enables us to carve out business model innovations corresponding to each of the four images of human nature (the human as an aggressive animal, the human as a machine, the human as a person, and the human as an evolving holon).

4. Images of Human Nature

4.1. Images of Human Nature in Business

The image of human nature is highly relevant to business research and practice [5,26], as economic decisions are, among other things, profoundly shaped by assumptions about humanity and its role in the world [3]. For example, understanding human beings as individuals detached from the environment fosters the prioritisation of money and ecological exploitation [40,41]. Viewing employees as machines nurtures social exploitation, while priming economic schemas reduces compassion and empathy for others [42]. Kres [43] examined how images of human nature affect leadership practices, arguing that charismatic and narcissistic leaders destroy value by cutting off the best employees out of fear that they could perform better than the leaders themselves.

Moreover, these images of human nature can foster short-term thinking in leadership and hinder long-term sustainable thinking [44,45,46]. Arnaud and Wasieleski [46] elaborate on the relationship between images of human nature and social performance in human resources management. In line with other researchers, they argue that viewing employees as self-determinant fosters pro-social behaviour and other socially responsible outcomes; see [47,48].

In turn, people’s experiences in their daily environment shape their images of human nature [49]. For example, daily exposure to specific information like data in the working environment and media during leisure time affects peoples’ images of human nature [48]. Moreover, changing environments as a result of rapid digital transformation ignite an adaption of people’s image of human nature [1]. This gap was apparent during industrialisation, where altered living conditions forced an adjustment in the image of human nature. Discrepancies between images of humankind and social conditions can lead to the deprivation of sense, social goals, and orientation [50].

Neoclassical theories mainly inform images of humankind in modern business research [3]. They build on the assumption that human beings are profit-oriented and utility-maximising economic actors and commonly lose sight of human beings’ social, ethical, and relational characteristics [50]). Pirson and Lawrence [3] argue that this kind of image of human nature reinforces utility-maximising, mechanistic, and short-term-oriented businesses. They instead suggest a humanist image of human nature that supports creating sustainable, organic, and long-term-oriented businesses. Their article provides a valuable basis for further examination at the business model level of (1) how the four images of human nature shape business model innovations with value proposition, creation, and capture and (2) how, in turn, business model innovations shape images of human nature.

4.2. Relationships between Images of Human Nature and Business Model Innovation

So far, this article has highlighted that images of human nature shape and are shaped by society and the economy. Now, these insights are transferred to business model innovation research, arguing that images of human nature shape business model innovation with each of its three value elements of value proposition, creation, and capture (see Figure 1).

The article suggests that the underlying processes explaining how images of human nature shape business model innovation are two-fold: First, images of human nature can enable specific business model innovations [26,27], meaning that a particular image of human nature can make it possible to pursue a specific innovation. For example, viewing humans as cooperative, reliable, and trustworthy enables farmers in community-supported agriculture to transparently communicate their financial needs to their members and conduct bidding rounds [51,52,53]. Second, images of human nature can obstruct specific business model innovations [1,3], meaning that a particular image of human nature might also make it impossible to pursue a specific innovation. Sticking with the example mentioned, farmers may refuse to adopt a community-supported business model because they believe their customers are unwilling to take on the responsibility required for it.

On the other hand, business model innovations can affect entrepreneurs’ (and other stakeholders’) images of human nature. Business model innovations are not only conceptual organisational structures but also concrete realms for novel practical experiences. Practical experiences affect images of human nature in two ways: First, they can confirm and strengthen images of human nature [4]. For example, imagine farmers with a behaviouristic image of humans who attempt the business model of community-supported agriculture for a small part of their vineyard, even though they believe that customers are mainly looking for good-quality wine at a low price. In the first two months, the farmers struggle with acquiring members for their community, which confirms their image of human nature and leads them to stop the experiment.

Second, practical experiences with business model innovations can also challenge images of human nature [26]. For example, another group of farmers who give the business model of community-supported agriculture a try even though they are not convinced that it works might be surprised by the closeness, trust, and commitment of their customers [51,53]. They may, as a result, learn to communicate honestly with their customers, and it might even be the first time they experience overwhelming support in difficult economic situations. These experiences unconsciously contest their image of human nature and either lead to a readjustment of it or cognitive dissonance and inner stress [1].

4.3. Business Model Innovations Corresponding to the Four Images of Human Nature

The following section delineates corresponding business models for each of the presented images of humankind and recaps which images bear the greatest potential to significantly push forward sustainability transformation (see Figure 2).

(1): Business model innovations corresponding to the human as an animal. Entrepreneurs who perceive human beings as competitive and instinct-driven likely choose business model innovations that promise the greatest value for the individual [30]. They may also pursue ecological or social innovations, but only if these ultimately lead to greater economic success. Value creation follows a transactional approach that focuses on the exchange process, e.g., the exchange of labour and salaries, and is characterised by pronounced hierarchies [28,29,54,55]. Moreover, value creation utilises a directive decision-making approach focusing on results, intuition, and individual perceptions [54]. Value capture focuses on economic profit and growth. These business models are well known, among other arenas, in the technology industry [21], one famous example of which is Media Markt, a multinational consumer electronics retail chain that attracted attention from 2002 to 2011 with its aggressive “Geiz ist geil” (stinginess is cool) advertising campaign in the German-speaking realm [55].
(2): Business model innovations corresponding to the human as a machine. Similar to the image of the human as an animal, entrepreneurs who perceive human beings as utilitarian machines likely choose utilitarian business model innovations that promise the greatest value for the individual. Value creation builds on a transactional approach that focuses on the exchange process, e.g., the exchange of labour and salaries. Decision-making is top-down, controlling, and analytical [56]. Furthermore, employees are regarded as universally shapeable in value creation, as, according to humanism, humans can learn any desired behaviour through conditioning [29]. Hence, incentive systems (rewards and benefits such as tuition reimbursement, extra holidays, and job flexibility) become core in business models’ value creation [30]. Behaviourist business models also seek economic profit and growth, similar to business models representing the image of the human as an animal. Network marketing models are an example of business models that build on the image of the human being as a machine, as they encourage customers to recruit and animate others to become sales partners. Here, network marketing models build on complex incentive structures and strictly vertical sales hierarchies [56].
(3): Business model innovations corresponding to the human as a person. Entrepreneurs who hold the image of human beings as people acknowledge stakeholders’ reflective, social nature; they believe that humans naturally care for each other. This makes it possible for entrepreneurs to choose business model innovations that are socially and economically sustainable, even if the production costs are higher or the shareholder gains are smaller [57]. The value proposition in these business models is relational, addressing the relationships between human beings and building communities [58]. Following Le Ber and Branzei [58] (p. 190), these business models build on a relational and humanist image of human nature that enables people to start a “reflective practice and collective meaning-making”. These collaborative ventures mirror human beings’ communicative nature while aiming to solve the environmental challenges threatening humanity [3,38]. Value creation utilises transformational approaches that inspire employees to self-organise within flat hierarchical structures [46] while encouraging them to participate in decision-making processes [58]. Some business model innovations building on a humanist image of humankind enable consumers to participate in value creation, reflecting the trusting aspect of human nature [46]. Employees’ well-being is likely more important than economic profitability in the value capture of these organisations, with the ventures aiming to act as transparently as possible [1]. In practice, business models that build on the image of the human as a person can, for example, be found in the field of social entrepreneurship, with entrepreneurial activity that strives for positive societal change or aims to solve a particular societal problem [10].
(4): Business model innovations corresponding to the human as an evolving holon. A business model that represents the systemic view of human beings as evolving holons addresses systemic societal changes in value proposition. In this sense, business model innovations corresponding to this image of human nature emphasise their willingness to change the economic or societal system [51,59]. They strive for a renewed perspective of human and more-than-human relationships, e.g., the post-anthropocentric worldview integrating non-human animals and nature as valuable business model stakeholders [60,61,62,63]. Value creation utilises transformational approaches that inspire employees to self-organise [64]; creative, social, future-oriented, and novel decision-making processes; as well as a novel understanding of ownership and equity [56]. Furthermore, value creation is collectivising, i.e., it not only recognises and appreciates individual human beings but their relationships as well, leading to a strong sense of community [65]. Employees have a high level of freedom regarding when and where to work, as well as a right to participate in decision-making [64,65]. Stakeholders are aware that their actions are closely connected and influence each other, which is why they employ a systemic mindset. Finally, experimenting and mutual learning are key components in value creation. Value capture aims to transparently generate ecological, social, and economic financial value, meaning that revenues and costs are communicated openly, often using bidding rounds [51].

In practice, business model innovations that build on the image of the human as an evolving holon can, for example, be found in the field of regenerative [65] and community-supported businesses [51]. Community-supported businesses constitute a “holistic approach of producers and consumers, based upon trust, cooperation and ecologically responsible behaviours” [51] (p. 110). Relational community-supported business models transform customers into a community of members [66,67] that provide the required material and immaterial resources and, in turn, receive the respective product or service generated by the business. Relational community-supported business models understand the community as an end in itself, create value from a high level of participation from its community members, and capture value with a solidarity-oriented proportional pricing model [63]. These business models strive to change societal or economic systems and can contribute to economic de-growth [67].

4.4. Synopsis: Images of Human Nature Fostering Business Model Innovations for a Sustainability Transformation

Perceiving human beings as aggressive animals fosters egoistic and competitive behaviour, hindering sustainability transformation because it requires mutual trust and cooperation among different actors [3,5]. Entrepreneurs who perceive human beings as utilitarian machines likely implement business model innovations that promise the greatest economic output and may even neglect environmental or social priorities. However, in some cases, certain aspects of the image of the human as a machine can support the spread of business models that promote a sustainability transformation. For example, incentive schemes can help to guide behaviour if intrinsic motivation is low, even though this has critical limits with regard to a sustainable transformation, as scholars have shown that intrinsic motivation outperforms extrinsic motivation in situations of change [68].

Entrepreneurs who perceive human beings as social and reflective people likely choose business model innovations that are socially and economically sustainable, even if the production costs are higher or the shareholder values are smaller [35,60]. They usually also pursue environmentally friendly business model innovations because these can help achieve a healthy, secure life for humanity on planet Earth and potentially counteract the impacts of climate change. The image of the human as an evolving holon holds the most significant potential for transformative sustainability business models because of its reflective, prospective character, which enables an understanding of more than just the human being [69]. It even allows a post-human and post-anthropocentric conception of humankind through affective relationships between the human and non-human world [65,70]. Moreover, it strives to create value for a broad range of stakeholders and facilitates a profound reconsideration of business and economics [65].

Consolidating these insights, the images of human beings first as evolving holons and second as people are best suited for pursuing business model innovations that foster sustainability transformation and move towards a post-capitalist economy. Behaviourist images of humankind as a machine can, to some degree, accompany sustainability transformation through incentive schemes. In any case, these insights guide entrepreneurs in becoming aware of the inherent images of human nature while critically reflecting on their perceptions of humanity [68,70]. Images of human nature need to become explicit to allow entrepreneurs to achieve better, more conscious decisions in business model innovation for sustainability transformation.

4.5. Boundary Conditions

According to Busse and colleagues [71], it is crucial to delineate the boundaries of a theory to understand its generalisability. Boundary conditions limit the suggestions derived from a theoretical model. Based on time or context, they describe the model’s scope. A theory is always a simplified representation of reality, meaning scholars face the challenge of considering sometimes countless contextual factors [72]. Hence, it is difficult—if not impossible—to delineate all the boundary conditions for a theory. The following section discusses three boundaries that have been identified in the particular case of the relationship between images of human nature and business model innovations: (1) the simplification of images of human nature, (2) further factors influencing decision-making in business model innovation besides our image of human nature, and (3) entrepreneurs’ participation in a business model innovation’s implementation phase.

The first boundary condition refers to the simplification of the four distilled types of human nature images, as illustrated in this study. In contrast to the simplified presentation here, our image of human nature is, in reality, often vague and ambiguous [1]. Individuals can possess an image of human nature that mixes some of the characteristics of the four distilled types and which can even be contradictory [45]. Moreover, individuals can hold specific images of human nature at work that might differ from those in their private life. The image of human nature can also evolve and change over time [3]. These factors may reduce the image of human nature’s pureness and simplicity and decrease the effect of the image of human nature on business model innovation.

The second boundary condition addresses other factors that affect business model innovation besides the image of human nature. This conceptual article’s explicit concentration on the relationship between the image of human nature and business model innovation means it has placed other external and internal factors affecting business model innovation on the back burner. If one of these drivers becomes salient and powerful, it might diminish the effect of the image of human nature on business model innovation. For example, environmental changes or financial constraints might force entrepreneurs to pursue an innovation path that differs from their image of human nature.

The third boundary condition relates to the effect of business model innovation on the image of human nature. Earlier, the article elaborated on how practical experiences with business model innovations can either confirm or challenge an entrepreneur’s image of human nature. However, this effect might be more intensive for entrepreneurs who personally witness business model innovations’ actual implementation; without this experience, their image of human nature might not be confirmed or challenged. Large corporations usually have considerable distance between their innovation/R&D departments and those that have to implement business model innovations. In these organisations, their effect on entrepreneurs’ image of human nature is likely less salient. With this in mind, the most significant impacts might be most visible in small and medium-sized companies where entrepreneurs experience the implementation of business model innovations most immediately and directly.

5. Discussion and Implications

This conceptual article introduced the sociological concept of the image of human nature into the research on business model innovation. It specifically elaborated on the mutual relationships between images of human nature and business model innovation, presented four stylised images of human nature, and delineated the corresponding business model innovations. The insights suggest that first, images of human nature enable or obstruct novel business models, and, in turn, business model innovations can challenge or adjust images of human nature. Second, the image of the human as an evolving holon has the greatest potential to enable business model innovations that significantly push forward fundamental sustainability transformation, followed by the humanist image of human beings as people. The images of a human being as a machine and as an aggressive animal possess the least potential for enabling sustainable business model innovation.

This article answers recent calls to advance theoretical perspectives on business model innovation for sustainability transformation [73] by drawing a more complete picture on which factors influence business model innovation [9]. These insights enrich the research on the drivers of and barriers to sustainable business model innovation. For example, the model developed by Bocken and Geradts [16] currently lacks images of human nature as a dimension explaining sustainable business model innovation. Similarly, the work by Schumacher and Wasieleski [20] as well as Laukkanen and Patala [24] can substantially be enriched by images of human nature as factors that explain business model innovation.

Furthermore, this study’s insights can help us to understand why certain business models are less often adopted by businesses than others. For example, recent research has shown that entrepreneurs usually prefer ecological over social business model innovations [7,25] because entrepreneurs perceive environmental innovations (e.g., resource efficiency) as more profitable compared to social innovation [7]. This study’s insights contribute to understanding this phenomenon: The reason why entrepreneurs perceive environmental innovation as more profitable than social innovation might not only lie in actual customer preferences but in entrepreneurs’ beliefs about customer preferences, which are closely related to their images of human nature [21]. As profound sustainability transformations require environmental, social, and economic innovations [8], it is highly relevant for scholars to understand decision-making in business model innovation. This study contributes to this understanding by examining how images of human nature shape business model innovation. For example, images of human beings as people and as evolving holons can enable social business model innovations.

Future research can draw a more dynamic picture by exploring changes in the notion of human nature over time and how these correspond to changes in business model innovation. Moreover, empirical work is needed to examine the multifaceted character of an entrepreneur’s image of human nature at a particular time [49]. An individual may simultaneously possess a variety of ideas about human nature that may become salient in specific contexts [1]. Introducing the image of human nature into business model innovation also lays the basis for further theorisation on the similarities and differences between business models and offers a novel analytical framework. For example, similar to the business model archetypes developed by Bocken and colleagues [6], different images of human nature can build the foundation for a novel categorisation of business model innovations for sustainability transformation.

Moreover, drawing scholarly attention to images of human nature advances entrepreneurship research in a more general way: It pushes forward theorisation because it focuses not only on economic actors but on human beings as a whole, with their perceptions of what it means to be human [68]. This perspective also underscores the self-perception of sustainable business model research, especially when considering how this field of research emphasises the transformation of the neoclassical understanding of businesses [8] while stressing their responsibility to create value for all stakeholders [10,14,15]. As value is not only captured economically, a holistic view of human beings constitutes a valuable path towards advancing business and entrepreneurship theory.

The extent to which humanity can tackle current and future societal challenges hinges upon its ability to develop innovations that profoundly foster a sustainability transformation. The insights gained from this theoretical elaboration can support policymakers in encouraging environmental, social, and economic innovation. By unlocking the relationship between images of human nature and business model innovation, this article suggests that not only consumer preferences but entrepreneurs’ beliefs about consumers, or, more generally, their images of human nature, shape business model innovation as well. To foster business model innovation for radical sustainability transformation, policymakers can (1) encourage entrepreneurs to become more conscious of their image of human nature and reconsider it and (2) encourage entrepreneurs to test novel, post-capitalist innovations. The latter contributes to a more balanced adoption of environmental, social, and economic business model innovations and supports the formation of spaces for novel experiences that allow entrepreneurs, customers, and other stakeholders to adjust their ideas about human nature. To this end, policymakers can raise awareness about cooperative business model innovations, foster the implementation of national local ecosystems for a solidarity economy, and adopt legal frameworks to support social and solidarity economy undertakings. Policymakers can foster and promote the integration of this study’s insights into entrepreneurship teaching at schools and universities as well as into local economic development policies.

6. Conclusions

In the face of worldwide social–ecological challenges, including climate change and environmental degradation, it becomes increasingly important to explore business model innovations that foster a sustainability transformation [11,73,74]. This conceptual article pursued an interdisciplinary approach by introducing the sociological concept of the image of human nature into business model innovation, examining their mutual relationships. These insights suggest that the notion of human nature is a crucial factor that enables or obstructs radical business model innovations. In turn, business model innovations have the potential to create space for novel experiences that challenge or adjust individual images of human nature. Moreover, the study presented four distilled images of human nature types and discussed the corresponding business model innovations. The image of the human as an evolving holon appears the most suitable for pursuing radical business model innovations that significantly push forward sustainability transformation.

The article contributes to the existing research by adding images of human nature as so far unexplored factors that influence decision-making in business model innovation. For example, it enriches the model developed by Bocken and Geradts [16] on drivers of and barriers to sustainable business model innovation. It becomes clear that even entrepreneurs who possess the necessary capabilities to pursue a sustainable business model innovation might decide against it because their image of human nature might not fit with this innovation. This is also tied up with the emerging research on community-supported business models [51]. Although these business models seem to constitute attractive innovations due to their financial stability and economic resilience in times of crises, a number of entrepreneurs refuse to adopt this sustainable innovation. Against the background of this article’s insights, it seems likely that entrepreneurs who possess images of the human as an aggressive animal or a machine “do not believe in” this business model and do not trust in members’ commitment. Hence, rather, entrepreneurs with images of humans as people or as evolving holons might decide on community-supported business model innovations.

Boundary conditions have been identified with regards to (1) the simplification of images of human nature, (2) further factors influencing decision-making in business model innovation besides our image of human nature, and (3) entrepreneurs’ participation in business model innovations’ implementation phases. Finally, the article addressed practical and policy implications by showing how policymakers and entrepreneurs can build on this study to foster business model innovation for radical sustainability transformation. Following the introductory quotation “Images of humankind […] are of fundamental importance because they underlie the ways in which the society shapes its institutions, […] and goes about whatever it perceives its business to be” [1] (p. 201), this article has shed light on the crucial role of images of human nature in entrepreneurial business model innovation. When entrepreneurs and policymakers take a step back and think about these insights from a broader perspective, they will hopefully realise that novel ways of thinking and conducting business are not merely a matter of feasibility but issues of conceivability and imagination to a similar extent [74]. This means that believing in post-anthropocentric or post-capitalist business models is the first essential step in realising them.

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