Business models can be classified into two categories: sustainable and unsustainable. But of course there is a transition possibility and a transition period. How do you know if your business model is sustainable? How do you get into a transition and what should you do during that transition period. All questions answered in this episode of the Work Professor with Prof. Dr. Nancy Bocken.
Nancy Bocken is Nancy is a professor of Sustainable business at Maastricht University. She is also a Fellow at the Cambridge Institute for Sustainability Leadership. Nancy takes us through the sustainable and unsustainable business models out there.
My product may not be too good
With companies selling a product there is always a discussion: how long will the product last and how much should it cost the consumer. A model that does not promote sustainability, because pushing the boundaries in quality to ultimately make as much money as possible generates a lot of waste. An easy change could be to move to a subscription model, even with a simple product like a lamp. Then the company benefits from making the most sustainable product possible and still make money continuously.
Easier said than done
Of course, it's easier said than done; you don't just throw your entire business over. Still, you have to start somewhere. Nancy offers a tip we've heard more often on the topic of sustainability: start small. "Start with a specific product and build that into a sustainable business model, see if it catches on and learn from that," Nancy says. That way you learn as you go and work toward a complete sustainable organization.
Links
More about Nancy Bocken
Circular X - experiment with sustainable business models
Examples of companies with a sustainable business model
https://www.circularx.eu/en/cases
Contact
Do you have questions or input? Please contact Wendy van Ierschot at wendy@viepeople.com.
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