UNIT TWO: TOPIC 4

ADOPTING A SUSTAINABLE BUSINESS MODEL

One approach for adopting a sustainable business model is to consider the model proposed

by Desjardins and Willis (2011), which builds on foundational work on the triple bottom line

(Elkington, 1997). This model considers three spheres of sustainability. These are economic,

social and environmental sustainability as illustrated in the following diagram:

Figure 1. The Three Spheres of Sustainability

Source: Wanamaker, C. (2018) The Environmental, Economic, and Social Components of

Sustainability: The Three Spheres of Sustainability. https://soapboxie.com/social-
issues/The-Environmental-Economic-and-Social-Components-of-Sustainability [Accessed
28 October 2019]

UNIT TWO: TOPIC 4

Economic Sustainability:

It is important to holistically consider both short and long term benefits. Economic sustainability

entails considerations towards spending in a smart way and adopting fiscal policies to promote

social benefits and protect the environment. Decisions to spend on education or to provide

subsidies to boost green products are examples of economic sustainability.

Social Sustainability

Social sustainability is focused on the betterment of society. This sphere focuses on the long

term quality of life of future generations. In this respect, issues related to the protection of

human rights, environmental and public involvement and participation must be considered in

a sustainable business model.

Environmental Sustainability

This entails decisions related to the proper management of our natural resources. In a

sustainable business model, any decisions should be evaluated considering the impacts on

the environment.

REFERENCES

 Desjardins, J. and Willis,A.(2011), Sustainability: Environmental and Social Issues

Briefing: Questions for Directors to Ask, The Canadian Institute of Chartered

Accountants, Canada

 Elkington, J. (1998). Cannibals with forks: the Triple Bottom line of 21st Century

Business. Gabriola Island, BC, New Society Publishers.

UNIT TWO: TOPIC 4