Three Crucial Parameters for Sustainable Business Model

by admin

Three Crucial Parameters for Sustainable Business Model

by admin

by admin

All organisations are looking for sustainability after pandemic and hence it is clear that each one of us need to articulate this model to sustain in our business.
Experience shows that it is always to be remembered that-

1) Who we are?
Are we deploying resources for today and tomorrow? It may need strategic thinking.

2) What are we doing?
Is each activity profitable?

3) How do we sustain and grow?
Do we disrupt our ways of deploying resources, methods of doing business, and retaining our customers to sustain?

‘Market transformation’ aids the business sustainability and competitive positioning of an organization. Nowadays, companies are not waiting for such market shifts. They are creating those market shifts to achieve desired level of organizational sustainability. This is possible because of a well featured business sustainability model. Many organizations are now developing various business models, following are the three crucial parameters which can be considered while designing organizational level sustainability model-

Sustainable Business Model should be-

1. Futuristically viable- Organization building based on limited resources will be a short-term yield. Availability and access to resources and its pricing are the constantly fluctuating entities. Sustainable business model should be designed in such a way that it should never be the waste in future.

2.Commercially profitable- Attracting new costumers and re-engaging old ones will always be the challenge for any organization. This strongly depends on the value proposition of business. Once the efficiency and effectiveness of your business is positively conveyed to the costumer, ground is yours! This vital point should never be ignored while developing sustainable business model.

3. Equipped with long term resources- Choosing accurate resources would be one of the important moves while operating any organization. Organizational management has to make a good choice between cheap resources with short term benefits and expensive resources with long term side effects. Organization’s decision-making abilities with situational analysis will play crucial role while looking for resources with long term benefits.

Every business needs a sustainable business model and polishing this model with newer and innovative concepts it is going to be a mandatory thing in coming years. With increasing development of sustainability strategies, products and services along with appointments of sustainability department and sustainability officers, new sustainable business models are expected to come up in this competitive era of businesses.

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