Business Models for Sustainability

Business Models for Sustainability

Peter E. Wells

With increasing awareness that innovative technology alone is insufficient to make sustainable lifestyles a reality, this book brings into sharp focus the need to create radical new business models. This insightful book provides a theoretically grounded but also realistic account of how the design of business models can be a critical component in the overall transition to sustainability, and one that transcends the usual focus on innovative technology.

Chapter 4: The principles and components of business models for sustainability

Peter E. Wells

Subjects: business and management, corporate social responsibility, strategic management

Extract

Academia is subject to the whims of fashion and fancy as much as any other aspect of life. Theories become suddenly prominent and then fade away again, just as topics or subjects of research and learning do. With the rapid emergence of Internet connectivity and the possibilities the associated technologies offered, so new and rather different forms of business also emerged and proliferated in the so-called dot.com era of the 1990s. In seeking to understand the significance, or otherwise, of the ‘clicks not bricks’ approach to business, so the language of the business model became increasingly prevalent – as was discussed in Chapter 2. The vast majority of the burgeoning literature on business models since then has neglected the issue of sustainability, albeit with some exceptions such as Stubbs and Cocklin (2008). In this respect, the work undertaken on business models for sustainability is a very much smaller subset of the much larger literature on the topic as a whole. The review in Chapter 2 identified some significant potential extensions of business models and their conceptualisation into a deeper consideration of their ecological performance, and into a wider consideration of the socio-governmental context that frames markets and corporate opportunities. There has been even less thought given over to the question of whether innovation in the business model might be one of the most important aspects of creating sustainable business generally. In part this neglect may due to the inherent turbulence in business generally: few businesses remain intact after 100 years, and most are in a state of almost constant change.

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