Abstract
The research will empirically address the stakeholder integration in sustainable orientation innovation process toward a framework of sustainable business model (SBM). SBM in the circular economy is significant to create business value and sustainability, however, it is still received limited scholarly attention, particularly, a potential gap within the context of incumbent firms in UK. The stakeholder interaction may potentially an important element of SBM which may act a vital role for sustainable value propositions, creation and capture. However, research on the stakeholder interaction has also been fragmented and not comprehensively examined. Beyond the broader external and internal forces, the role of stakeholder for sustainability, their value creation in SBM and the stakeholder integration strategies will be confirmed. This study will provide new evidence of broader external and internal forces on sustainability and the role of stakeholder, their relevance and integration strategies for sustainability will make a significant theoretical and practical contribution. A grounded theory applied to explore the research questions with sample of 40 participants from 10 incumbent firms who are involved in sustainable practice, and collecting data through both in-depth interview and focus group. The study is intended to contextualise the recent perspective of, and challenges of SBM, in consequence, the study developed a conceptual framework which led to the development of a theory for use in the research context. The conceptual model encourages practitioners and business developer managers to understand the sustainable process of SBM considering stakeholder and the extent to which broader external and internal forces influence SOI and SBM to be sustainable, thereby shaping a more holistic approach.