The Industry 4.0 addresses a radical change on business processes. Through communication technology, objects interact with each other; the physical and digital worlds merge. This makes an environment more flexible, allowing to respond faster to specific customer requirements. Therefore, businesses need to rapidly adapt to avoid being left behind. A business model is required to meet the new concepts of Industry 4.0. In addition, lean and green characteristics may align with business model elements. Understanding how these concepts interact is something that need clarification. Based on literature review, a conceptual relationship between Business Model (Canvas), Lean and green management approach and Industry 4.0 approach is presented. Lean and green management characteristics are identified to be aligned through a Business Model Canvas perspective. Also, the concepts of the Industry 4.0 can be applied in each element of the Business Model Canvas. Managers and entrepreneurs can create, design or redefine their business knowing the lean and green application and Industry 4.0 execution. This research aims to contribute to the discussion of the relationships between these concepts. To the authors’ knowledge, this work is one of the first to try to relate these concepts.