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Sustainable Business Models Implementation in Industry: Strategies and Challenges – A Systematic Review
Abstract
To achieve sustainability, organizations need to mutate their entire business logic and strive to balance the so-called triple bottom line, which is economic, environmental, and social values. Sustainable business models (SBMs) combine a triple bottom line approach and take into consideration a wide range of stakeholder interests, including environment and society. However, integrating sustainability into organizations' business functions proved to be a challenging process for practitioners. Sustainable business model archetypes were introduced to depict groupings of mechanisms and solutions that may accelerate building up SBMs, which assisted in developing a common language that can be used to expedite the development of SBMs in research and practice. The purpose of this chapter is to explore the literature and analyze the practices, strategies, and challenges faced by businesses from different industrial sectors that introduced sustainability to their business models.
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