Sustainable Business Model in Green transition of Female Entrepreneurs in the Balkan region, ERASMUS-EDU-2023-CB-VET and project No 101128967

Jovanov, Tamara (2024) Sustainable Business Model in Green transition of Female Entrepreneurs in the Balkan region, ERASMUS-EDU-2023-CB-VET and project No 101128967. [Project] (Submitted)

Text (Module 8 - Sustainable business model) 1 G-FEB-Module 8 - SUSTAINABLE BUSINESS MODEL - rep.pdf - Supplemental Material Download (2MB)

Abstract

A sustainable business model refers to a business approach that creates long-term value by integrating social, environmental, and economic considerations into its operations and decision-making processes. The goal is not only to generate profit but also to contribute positively to society and the environment, ensuring that resources are used efficiently and responsibly for future generations.

Key Components of a Sustainable Business Model:

Economic Viability:

Profitability: A sustainable business must be economically viable, generating profits to ensure long-term survival and growth.
Financial Sustainability: It aims for long-term financial health by balancing short-term profits with long-term investments in sustainability initiatives.
Revenue Models: It may diversify revenue sources, moving away from traditional models to those that integrate sustainability (e.g., subscription models, circular economy practices).

Environmental Responsibility:

Resource Efficiency: A sustainable business uses resources—such as energy, water, and raw materials—efficiently and reduces waste.
Low Environmental Impact: This could involve reducing carbon footprints, using renewable energy, and minimizing pollution through greener technologies and practices.
Circular Economy: Embracing the concept of a circular economy by reducing, reusing, and recycling materials in the production process.

Social Equity:

Fair Labor Practices: A sustainable business ensures fair wages, safe working conditions, and respect for workers' rights across the supply chain.
Community Engagement: It contributes positively to local communities, investing in education, health, or infrastructure projects.
Inclusive Growth: Ensuring that benefits from the business extend to various groups within society, promoting equality and diversity.

Ethical Governance:

Transparency and Accountability: Companies with sustainable business models are open about their operations, sustainability goals, and performance. They adhere to ethical standards and are accountable for their actions.
Stakeholder Involvement: Sustainable businesses engage various stakeholders, including customers, employees, suppliers, and investors, in decisions related to sustainability efforts.

Item Type:	Project
Subjects:	Social Sciences > Economics and business
Divisions:	Faculty of Economics
Depositing User:	Tamara Jovanov
Date Deposited:	27 Nov 2024 10:00
Last Modified:	27 Nov 2024 10:00
URI:	https://eprints.ugd.edu.mk/id/eprint/35084

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