Sustainable Business Models: Are They the Future or Just a Fad?
"Explore the rise of sustainable business models and whether they represent a lasting shift or a passing trend in the corporate world."
The concept of the business model has dramatically risen over the past 15 years in both academic research and business practices. The business model concept is increasingly important for practitioners dealing with more competitive, complex, and fast-moving business environments. Modern information and communication technologies and e-business in the late 1990s is often seen as the advent of business model research. Theoretical foundations have been identified as being rooted in information technology, organisation theory and strategic management.
Researchers dealing with sustainable development and corporate sustainability started exploring whether and how the business model concept can be used to investigate business-based solutions for ecological and social problems. Practitioners are increasingly interested in how these solutions can range from business models for new technologies and social innovations to hybrid and non-profit organizations.
Sustainable business model researchers and practitioners have a tendency to primarily engage within their sustainability communities. The question arises whether SBMs are just a buzzword-driven phenomenon and a passing fancy, or is this the sign of a new field of research and practice emerging?
Traits of Sustainable Business Models: What Defines a Lasting Field?
To determine if SBMs represent a lasting field, it's essential to assess their defining traits. A field must be sufficiently distinct from related, established areas. The question is whether the research and practice around SBMs are unique enough. Understanding and developing these traits can advance the field and lay the foundation for consistent research and practical application.
- Are SBMs based on foundational beliefs and a cohesive set of concepts that provide common meaning and facilitate communication?
- Are SBMs supported by practical resources, including standard tools, textbooks, and guidance?
- Do SBMs cultivate an authoritative structure that ensures quality and consistency across diverse topics?
- Are SBMs built on a community of actors who adhere to and contribute to these traits?
The Future of Sustainable Business Models: Integration is Key
The choice between viewing SBMs as a sub-field or a stand-alone field presents limitations. Developing SBM research and practice as an integrative field is the best path forward. The SBM field depends on and goes beyond established fields, offering a powerful way to make business sustainable. The SBM field can borrow and merge ingredients from existing fields, linking these in new ways and sharing these experiences to renew and inspire researchers and practitioners.