Abstract:
The global economy continues to be pummelled by effects of volatility, uncertainty, complexity,
and ambiguity (VUCA), as the world continues to experience the effects of emerging from an
unprecedented global pandemic and transitioned into a geopolitical storm due to the Ukraine
– Russia War. The resilience of the global mining industry finds itself under pressure to deal
with competing demands for responsible and sustainable mining in which there is creation of
shared value and heightened governance and reporting expectations which must be
considered within the continuum of global, regional, and national contextual settings.
The study thus undertook to determine the effects of the local operating context of mining firms
in Botswana on their ability to reconfigure their mining business models to create sustained
value and capture it whilst meeting the varied expectations on competitivity, sustainability and
social responsibility. The study explores how firms innovate on their business models
considering the contextual antecedents at paly and how firms exploit their dynamic capabilities
to effect business model innovation (BMI). The ability to leverage dynamic capabilities for BMI
will also be determined through the lens of the complexities levied upon by the organisation
models in a country where most mining firms are owned and/or co-owned by multinational
companies (MNC).
A systematic theoretical and analytical literature review was carried out with 12 candidates
interviewed using a semi-structured interview protocol. Key insights emerging from the study
confirm extant literature on the criticality of understanding the contextual antecedents on BMI
and their factors that moderate or mediate BMI performance. A conceptual framework is
proposed for application businesses and may also adapted by other sectors to enable key
strategic choices and decisions in re-thinking business models to meet multiple and pressing
competing business imperatives. The researcher concludes with recommendations for further
studies to extend further with empirical support the theoretical underpinning constructs and
drivers of BMI in different context and industries.
