Developing sustainable business models: local knowledge acquisition and tourism lifestyle entrepreneurship

Abstract

Tourism lifestyle entrepreneurs’ (TLEs) businesses are associated with sustainable business models (SBMs) due to a link to the place. This link is a source of essential local knowledge that provides differentiation, competitiveness, and sustainability. Given the importance of local know- ledge to SBMs, this article explores knowledge management by examin- ing how TLEs acquire and integrate knowledge as well as its effects on innovativeness and self-efficacy. We use a sequential mixed-methods approach in which we first conducted a qualitative study with four in- depth semi-structured interviews with TLEs, followed by a quantitative study through a survey of 115 TLEs, and third we conducted another qualitative study based on four semi-structured interviews. The results indicate that entrepreneurial communication has a significantly positive and direct effect on both the innovativeness and self-efficacy of TLEs. A community-centered strategy has a positive influence on innovativeness and self-efficacy but via the indirect effect of entrepreneurial communi- cation. Local knowledge assimilation plays a mediating role between the acquisition of local knowledge and innovativeness and self-efficacy. These findings provide a general understanding and framework about how TLEs link the elements of an SBM to greater innovativeness and self-efficacy.