THE FUTURE OF CORPORATE GOVERNANCE: ADAPTING TO THE DYNAMICS OF NEW BUSINESS MODELS
DOI:
https://doi.org/10.5281/zenodo.17447536Keywords:
Corporate Governance, ESG Projects, Business Model Dynamics, Innovation, Organizational Change, Strategic Management, COVID-19.Abstract
This paper explores the role of corporate governance (CG) in helping energy companies navigate crises suchas the COVID-19 pandemic and embrace new opportunities, particularly in environmental, social, and governance (ESG)
initiatives. Through a multi-case study of large energy frms and startups, the paper examines how boards manage
innovation, networks, and organizational change during disruptions. Findings reveal ESG efforts faced major hurdles
during the pandemic, prompting board-level interventions to drive innovation and structural adjustments. The research
also clarifes distinctions among Business Model Innovation, Adaptation, and Evolution, contributing to Business Model
Dynamics (BMD) theory. It offers insights for aligning governance with strategic change and fostering innovation and
resilience in a turbulent global environment.
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