Sustainable Business Models of Companies

Abstract

Enterprises are looking for new business strategies, and one of the observed trends is the implementation of aspects of sustainable development and its elements into business management as well as supporting the pursuit of a circular economy. The aim of the considerations is to address and present the main assumptions of circular and sustainable business models, including the indication of critical success factors, barriers, and their drivers. An important part of the chapter is to define and characterize innovations based on sustainable value. The chapter ends with a discussion on the application and development of sustainable business models in economic practice and the indication of recommendations and further directions of development of this trend. Sustainable business models are a challenge, not only for managers of organizations, but also for employees, supply chains, and business financing institutions. By definition, the principles of sustainable development must be implemented in the organization’s strategy. The chapter indicates definitions, areas, and bases supporting the creation of sustainable business models. An important element is also the indication of drivers supporting the implementation of this innovative concept. The assessment tools and archetypes of the functioning and implementation of sustainable business models were also found in the literature. The presented considerations are helpful elements, both in creating and assessing already existing business models based on the principles of sustainable development.