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Purpose This paper aims to discuss hybrid organizations whose business models blur the boundary between for-profit and nonprofit worlds. With the aim of understanding how hybrid organizations have developed commercially viable business models to create positive social and environmental change, the authors contend that hybrids are altering long-held business norms and conceptions of the role of the corporation in society. Building on an analysis of the most updated literature on hybrid organizations and with the use of case study approach, the purpose of this paper is to derive managerial lessons that traditional businesses may apply to innovate their business models. Design/methodology/approach This paper has a practical focus to help organizations to develop successful business strategies and design innovative business models. It applies emerging thinking on hybrid business models to provide new insights and ideas on the use of business models as tools for innovating and delivering value. To comply with this, first, the authors discuss the distinctive characteristics of hybrids and the hybrid business model through a concise but comprehensive review of all the literature on hybrid organization, which is still very recent. Second, we relied on a short case study that introduces information technology and digital innovation as the premises of the emergence of a new hybrid business model that adds additional elements to traditional business managers on how to learn from hybrid organizations’ avenues to innovate their business models. Findings In this paper, the authors aimed to shed light on the management of any organization or initiative that aims to embrace multiple and competing yet potentially synergistic goals, as is increasingly the case in modern corporations. Spotting hidden complementarities of antagonistic assets can be arduous, time-consuming, costly and risky, but businesses driven by innovation may want to keep a close eye on the expanding hybrid sector as a source of future entrepreneurial opportunities. To this regard, hybrid social ventures have the potential to shed light on ways to innovate traditional business models. The essence of studying hybrids is that firms may learn how to innovate their business models in ways that go beyond current conceptualizations, making their mission profitable, rather than making profit their only mission! The research design (literature analysis and case study) allowed the authors to disentangle different innovative business models that hybrids suggest highlight strengths and weaknesses of such business models, understand strategies and capabilities associated with hybrids and transpose all these lessons learned to traditional business managers who constantly struggle for innovation. Research limitations/implications The main implication is that hybrid organizations may serve as incubators for new practices that can gain scale and impact by infusion into existing corporations. The authors can assist to a process of “hybridization” of incumbent firms, pushing the boundaries of corporate sustainability efforts toward strategies in which profit and social purpose share more equal footing. Practical implications Firms interested in benefiting from antagonistic assets that can have a dramatic impact on their business model innovation may want to consider some lessons: firms can attempt to build antagonistic assets into their mission, asking themselves what activities they can undertake with the potential to create (or erode) social, environmental and economic value and how these activities might be mediated by the context/environment in which they operate; they can partner with hybrids to benefit from them and absorb competencies from them, so to increase their likelihood to generate value-creating activities and to impact on wider range of stakeholders, including funders, partners, beneficiaries and communities; they can mimic hybrids on how to innovate their business model through the use of the “deliberate resource misfit” dynamic capability, mitigating negative impacts and trade-offs and maximizing positive value spillovers, both for the firms themselves and for the community. Social implications Sharing know-how with hybrids opens up to ways to innovate business models, and hybrids are much more open to sharing lessons and encouraging others to copy their approaches in a genuine open innovation approach. Originality/value The main lesson businesses can take away from studying hybrids is that antagonistic assets – and not only profitable complementary ones, as the resource-based view would suggest – do not have to be a burden on profits. Hybrids ground their strategy first and foremost on their beneficiaries, thus dealing with a bundle of antagonistic assets. The primary objective of hybrids is thus to find imaginative ways of generating profits from their given resources rather than acquiring the resources that generate the highest profit. Profit is the ultimate goal of traditional businesses’ mission, but by making profit their only mission, firms risk missing out on the hidden opportunities latent in antagonistic assets. Learning from hybrids about how to align profits and societal impact may be a driver of long-term competitive advantage.

Purpose -This paper aims at investigating the multifaceted nature of innovation networks by focusing on two research questions: Do cluster actors exchange only one type of innovation-related knowledge? Do cluster actors play different roles in innovation-related knowledge exchange? Design/methodology/approach -This paper builds on data collected at the firm level in an Italian aerospace cluster, that is a technology-intensive industry where innovation is at the base of local competitiveness. A questionnaire was used to collect both attribute data and relational data concerning collaboration and the flows of knowledge in innovation networks. The authors distinguished among three types of knowledge (technological, managerial and market knowledge) and five types of brokerage roles (coordinator, gatekeeper, liaison, representative and consultant). Data analysis relied on social network analysis techniques and software. Findings -Concerning the first research question, the findings show that different types of knowledge flow in different ways in innovation networks. The different types of knowledge are unevenly exchanged. The exchange of technological knowledge is open to everyone in the cluster. The exchange of market and managerial knowledge is selective. Concerning the second research question, the authors suggest that different types of cluster actors (large firms, small-and medium-sized enterprises, research centers and universities and institutions for collaboration) do play different roles in innovation networks, especially with reference to the three types of knowledge considered in this study. Research limitations/implications -The present paper has some limitations. First of all, the analysis focuses on just one cluster (one industry in one specific location), cross-and comparative analyses with other clusters may illuminate the findings better, eliminating industry and geographical biases. Second, the paper focuses only on innovation-related knowledge exchanges within the cluster and not across it. Practical implications -The results have practical implications both for policy makers and for managers. First, this research stresses how innovation often originates from a combination of different knowledge types acquired through the collaboration with heterogeneous cluster actors. Further, the analysis of brokerage roles in innovation-driven collaborations may help policy makers in designing programs for knowledge-transfer partnerships among the various actors of a cluster. Social implications -The paper suggests a clear need of developing professional figures capable of operating at the interface of different knowledge domains.Originality/value -The data illuminate several aspects of how innovation takes place in a cluster opening up intriguing aspects that have been overlooked by extant literature. The authors believe that this may trigger several lines of further research on the topic.

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The debate about Circular Economy (CE) has been increasingly enriched by academics through a vast array of contributions, based on several theoretical perspectives and emanating from several research domains. However, current research still falls short of providing a holistic and broader view of CE, one that combines existing themes and emerging research trends. Accordingly, based on a Systematic Literature Network Analysis, this paper tackles this gap. First, a Citation Network Analysis is used to unearth the development of the CE literature based on papers' references, whilst the Main Path is traced to detect the seminal papers in the field through time. Second, to consider the literature in its broader extent, a Keywords Co-Occurrence Network Analysis is conducted based on papers' keywords, whereby all papers in the dataset, including the non-cited papers, are assessed. Additionally, a Global Citation Score analysis is conducted to uncover the recent breakthrough research, in addition to the Burst Analysis used to detect the dynamic development of CE literature over time. By doing so, the paper explores the development of the CE body of knowledge, reveals its dynamic evolution over time, detects its main theoretical perspectives and research domains, and highlights its emerging topics. Our findings unfold the evidence of eight main trends of research about CE, unearth the path through which the CE concept emerged and has been growing, and concludes with promising avenues for future research.Sustainability 2020, 12, 1633 2 of 24 of CE, we explore the process of knowledge conception, dissemination and progress through a dynamic lens, with the aim to unearth its ongoing evolution. Accordingly, our main research question is: What are the existing themes and emerging research trends in Circular Economy?With this aim, we conduct a Systematic Literature Network Analysis (SLNA), which consists of a novel literature review method based on a dynamic approach that allows for uncovering how academics have addressed a specific topic over time since its early appearance. In other words, the SLNA results would complement the already existing systematic literature reviews about CE, in the sense that they supplement the reader with a synthesis of the dynamic development of the field, and a set of CE research development themes based on objective measurements.Scholars designed the SLNA as a quantitative-based method that builds on both systematic literature review and bibliographic network analysis [8]. The SLNA allows for embracing the knowledge of a field in its broader view and inherent value by identifying the main paths and key issues shaping its growth in a more rigorous way compared to conventional literature reviews [9]. Indeed, a conventional literature review usually relies on content analyses, which omit the dynamic evolution of the research. Moreover, the selection and categorization of literature relies on subjective, rather than objective tools. On the contrary, the SLNA relies on objective tools and algorithms (e...