Emerging factors in Blue Economy business cases

Abstract

This research investigates emerging factors in the business models of companies operating within the Blue Economy, focusing on intellectual capital, digitalization, and sustainability from an ESG perspective. It explores how integrating these elements influences business processes and value creation in the seafood supply chain and tourism sectors in the Gulf of Gaeta. These elements represent strategic factors for competitive advantage, as digital technologies, intellectual capital, and sustainable practices significantly impact business models within an economy oriented toward responsible marine resource use. The study adopts a qualitative exploratory methodology, using the multiple case study method. Two case studies were selected based on profitability and their role in the local maritime supply chain. A case study protocol was developed using primary sources (semi-structured interviews and company visits to observe the production process) and secondary sources (document analysis of corporate records). Blue Economy companies adopt different business models shaped by sector-specific characteristics. Factors related to intellectual capital, especially human and relational dimensions, emerge as strategic levers for innovation and business competitiveness. In terms of technology, digitization is more developed in tourism, while in the fisheries sector, it is mainly limited to administrative management. Finally, both companies show awareness of environmental and social sustainability, while governance practices appear less developed. This study has both theoretical and practical implications. First, it provides insight into the theoretical development of the mentioned aspects. Second, the findings help guide key players in the blue economy—including entrepreneurs, policymakers, and other stakeholders involved in these economic sectors—in integrating these elements into their business models with a focus on value creation. This, in turn, supports the adoption of a strategic approach aimed at aligning with ESG parameters. The originality of this study highlights the relevance of the topic, which focuses on the identification and presentation of two case studies related to the Blue Economy. Moreover, the study helps bridge a gap in the literature by providing a significant contribution to the understanding of the dynamics and emerging practices within the business models of Blue Economy sectors.