AN EMPIRICAL RESEARCH ON PRODUCT SERVICE SYSTEM (PSS) FOR BUSINESS MODEL INNOVATIONS WITH TECHNOLOGY

Sustainability' is a significant and improving driver of business change. Its results for innovation are clear – living and working in a world of up to 9 billion people with rising expectations, providing energy, food and resource security, operating with climatic change, atmosphere destruction, improving financial dividend and a number of other interdependent problems which require large change in products, service, techniques, enhance marketing and the particular business models for framework. The main focus of this paper is to develop an understanding of emerging patterns and innovation of management which required to taking an account for emerging opportunities in the business ‘sustainability'. In particular it draws on case research of a number of business owner/companies to help response the query of what genuine actions might be taken beyond the over mentioned statements of moving towards greater sustainability of business. This paper has identified six emerging approaches (Product service systems (PSS), Open innovation, Peer-to-peer innovation, Closed–loop production, Crowd-funding, and Sharing economy) an empirically tested Product service systems (PSS) with various age groups of respondents, with the objective to understand the developing business models for sustainability of business. For the purpose of analysis chi square test has been used.