Topic 1 Characteristics of sustainable business models – Circulartourism

Organisations have to look at all the drivers and reasons for sustainability, but it is up to them how they adapt their business models to incorporate them. There are many tools and approaches that can be used. However, all sustainable business models have some common features.

A sustainable business model (SBM) considers a wide range of stakeholder interests, including environment and society. This can help to embed sustainability into the business purpose, then into processes, and explore what the key drivers are for competitive advantage. 

• It defines how materials can be maximised and more energy-efficient.
• It defines how value can be created from waste, like recycling, cradle-to-cradle initiatives.
• It pays attention to social value and environmental issues.
• It explores cooperation and partnerships, and co-production of value.
• it encourages sufficiency, so understanding when needs are met. 

A sustainable business model recognises and represents the contexts in which it exists, particularly its relationship with society and the environment, and takes responsibility for the part it plays within these contexts.