Sustainability in Business Models
Business is increasingly employing sustainability practices, aiming to improve environmental and social responsibility while maintaining and improving profitability. However, for many organizations, profit-oriented business models are a major constraint impeding progress in sustainability.
Over time business model is becoming the most critical position from which stakeholders can influence the ESG adoption and realization of new definitions of business success, including sustaining the possibility for growth. Nowadays business model tends to illustrate the definition by which an enterprise determines the appropriate inputs, resource flows, and value decisions and its role in ecosystems, whether natural, social, or economic.
It requires business models to envisage continual rejuvenation of natural and other capitals by embedding the required activities into the business processes of value co-creation. This not only results in the possibility of flourishing but also enables innovation and competitive advantage.
There are many attempts and canvas to design “new” business models. The article's picture is a snapshot of some of them. Each of these business models canvas has its benefit. We can also consider adapting an existing standard business model with specific inputs.
The most important point though is to make sure that the critical material topics (risks and opportunities) the identified priorities (SDG impacts) and the 10Rs & circularity possibilities are all coherently checked and integrated. This is part of our Integration module, www.stratesgy/integration