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Is it time for a new business model?
Stubbs, Wendy
Stubbs, Wendy
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PStubbs.pdf
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Abstract
This paper argues that the current model of business focuses on economic objectives, such as ‘sustainable profit growth’, to the detriment of social and environmental objectives. Under this model it is difficult for businesses to address concerns of global social equity, increasing the wellbeing or welfare of humanity and environmental sustainability. Drawing on Anand and Sen’s (2000) ‘human development’ framework, this paper explores a business model based on environmental, social and economic sustainability principles and practices. The paper draws on theory and data from a work-in-progress research project and identifies key challenges in moving to a ‘human development’ model of business. Areas for further research are suggested to move towards a more sustainable and equitable society.
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2004
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With permission of the license/copyright holder