University Essay: Innovation and Sustainable Business Development

This essay delves into the critical relationship between innovation and sustainable business development in the competitive 21st-century market. It begins by establishing the significance of business models as a key component for companies and organizations to standardize the quality of their business, linking innovation and sustainable development. The essay then explores the archetypal connotations of business models, emphasizing their role in helping businesses navigate crises and adapt to market changes, using Porter's five forces as an example. It breaks down the components of business models, including customer segments, value propositions, and channels, and their contribution to efficient task execution, revenue generation, and cost structure. The essay then pivots to business models as solutions for workplace problems, highlighting their role in enhancing decision-making, reducing bias, and fostering customer loyalty. It also discusses the importance of change management, using Capgemini as a case study to illustrate how innovation in data analysis and technology can provide a competitive edge. In conclusion, the essay underscores the need for business models to drive innovation and achieve sustainable development, enabling organizations to adapt to market dynamics and make informed decisions.

Running head: INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT
Innovation and Sustainable Business Development
Name of the student:
Name of the university:
Author note:

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INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT
Introduction
In the 21st century, the market scenario is competitive. The main theme of this ambience
is to blindly run the rat race. This motive reflects continuation of the traditional legacy, which the
businessmen have established during their reign. This continuation contradicts innovation, which
is the need of the hour in terms of luring the customers (Boons & Lüdeke, 2013). Adopting the
appropriate business models helps the companies and organizations to standardize the quality of
the business. Viewing it from other perspective, business model links the two variables of the
assignment, innovation and sustainable development. This assignment, through the means of
literature review attempts to validate this linkage.
Archetypal connotations of business model
Model is thought as something or someone, reliance upon whom would help the
individuals to attain success in their life. This is applicable in all of the fields including business.
The usual conventions associated with business model are something, which helps the personnel
to alter their predicament from the phase of crisis (Boons et al., 2013). As an example, taking
into consideration, the model of Porter’s five forces enhances the awareness of the personnel
regarding the competitive scenario of the market.
Delving deep into the business terminology, a business model is something, which
provides an insight into the ways and means by which the companies and organizations preserves
the identified and specified values. As a matter of specification, business models have nine
blocks-customer segments; value propositions; channels; customer relationships; revenue
streams; key resources; key activities; partners and cost structure (Carayannis, Sindakis &
Walter, 2015).

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INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT
Figure 1: Components of business model
All these blocks complete the business process of the companies and organizations. Key
resources help in carrying out the allocated tasks in an efficient and effective manner. Within
this, adopting the means of social media enhances the network chain, which escalates the sales
revenue and adds value to the profit margin. Herein lays the effectiveness of the block,
“channels”. Involving the stakeholders, shareholders and other agency partners, in the meetings
help in estimating the cost structure for the allocated projects. Systematization of all these
components makes business model a central and integral part of the business (Benn, Dunphy &
Griffiths, 2014).
Business models also find their applicability in the determination of the cost revenue. As
an example, in the phase of financial crisis, the companies and organizations can make effective
use of business model, like demand supply curve can help the personnel to calculate the cost of
the products and services. This calculation would lead to the estimations regarding the sales
Business
model
Customer
segment
Value
proposition
Channels
Customer
relationship
Revenue
streams
Key
resources
Key
partners
Cost
structure

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INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT
revenue. These calculations, estimations can be linked to the word “architecture”. In other words,
these plans prepare the staffs for the financial crisis, which possesses flexibility to maintain the
integrated structure of the organizations and company. This is possible only if the personnel
emerge successful in making practical application of the learnt skills (Dentchev et al., 2016).
Business model as a solution for the workplace problems
This segment provides another parameter for the business model, that is, solution for the
workplace issues. Problems are an integral part of business. Problems destroy the order and
harmony of the workplace. Seeking innovative solutions reflect the approach of the personnel
towards preservation of the core values. Consideration of the business models in a wise step for
the personnel in terms of restoring the decorum of the workplace. Here example can be taken of
the problem solving model, which enhances the decision making skills and abilities of the
personnel (Adams et al., 2016). The major drive behind this is the stage of evaluation, which
helps the personnel to assess the exposed performance in terms of the identified and specified
requirements. Effective consideration of this model reduces biasness among the personnel and
enhances diversity within the workplace. Internal coordination and unity between the personnel
enables the personnel to achieve loyalty, trust and dependence from the customers. Organizing
open forums and discussions is a specific example for the solutions towards workplace problems.
Following participative management style for the achievement of solutions maintains the
stability in the relationship between the management and the employees. The penultimate stage
of the problem solving model is the evaluation, which provides the employees with the
opportunity to improve and upgrade the standard and quality of decisions (Bocken et al., 2013).
Maintenance of continuity in this direction enhances the aspect of Public relations. The primary
step here is to identify the problem and its intensity. Unless and until the problem is of higher

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INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT
intensity, the companies and organizations need to solve the matter internally. Rational thinking
in this direction results in the customer retention. Rationality signifies the application of
alternative solutions upon the failure of one solution. This rationality adds value to the roles and
responsibility of the personnel. Negligence in this direction acts as a compromise with the
modifications needed for redesigning the organizational structure (Cohen & Kietzmann, 2014).
Inevitability of change in business context
Change is an inevitable concept within the business in terms of luring more and more
customers towards the brand image. However, merely changing the existing ways and means of
marketing would not result in the achievement of positive outcomes. Application of effective
management techniques would alter the predicament of the companies and organizations from
the crisis phase or “being looked down” (Bocken, Rana & Short, 2015). For this also, business
models prove to be an effective step. Example can be given of Capgemini, where the rise of Big
Data has revolutionized the business. As a matter of specification, the growth in data and
analytics has stabilized the relationship between the stakeholders, shareholders and agency
partners. Through the Big Data, Capgemini has been able to mitigate the instances of cyber
crimes largely. The managers are confident regarding giving a tough competition to the
contemporary brands (Capgemini.com 2017). This confidence is enough to attain sustainable
development within the competitive ambience of the market. Moreover, this confidence destroys
the conception regarding Big Data posing as an obstacle in the efficient execution of the business
activities. Inclusion of efficiency and cost focus; growth of existing business streams, disrupting
the contemporary markets through new revenue channels and monetization of the data within the
change management model has enabled Capgemini to achieve higher competitive edge
(Capgemini.com 2017).

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INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT
Seeking innovative means for setting disparate data sets have upgraded the existing
technological streams for the company, Capgemini. Adherence and compliance to the
competitive policies reflects the transparency in the business, which has paved the way of
foreign market penetration. Satisfaction of the customers is the major drive behind this radical
transformation (Capgemini.com 2017).
Conclusion
This assignment emerges successful in providing an insight into the measures needed for
innovating the existing performance for the achievement of sustainable development. Business
models act as a medium, through which companies and organizations can alter their plights in the
real market scenario. Considering business model as an activity adds flexibility towards
strengthening the organizational structured. One of the other parameters of business model is
assistance in taking decisions. Acceptance of the propositions of the model contradicts the aspect
of difference in opinions; however, this is not the story of all workplaces. As a final touch, the
essay highlights the issue of change, even for which business models are needed. Countering
this, adoption of the appropriate business model possesses flexibility to alter the fate of the
companies and organizations in terms of business activities and decision making.

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INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT
References and bibliography
Adams, R., Jeanrenaud, S., Bessant, J., Denyer, D., & Overy, P. (2016). Sustainability‐oriented
innovation: a systematic review. International Journal of Management Reviews, 18(2),
180-205.
Benn, S., Dunphy, D., & Griffiths, A. (2014). Organizational change for corporate
sustainability. Routledge.
Bocken, N. M. P., Rana, P., & Short, S. W. (2015). Value mapping for sustainable business
thinking. Journal of Industrial and Production Engineering, 32(1), 67-81.
Bocken, N., Short, S., Rana, P., & Evans, S. (2013). A value mapping tool for sustainable
business modelling. Corporate Governance, 13(5), 482-497.
Boons, F., & Lüdeke-Freund, F. (2013). Business models for sustainable innovation: state-of-
the-art and steps towards a research agenda. Journal of Cleaner Production, 45, 9-19.
Boons, F., Montalvo, C., Quist, J., & Wagner, M. (2013). Sustainable innovation, business
models and economic performance: an overview. Journal of Cleaner Production, 45, 1-8.
Broman, G. I., & Robèrt, K. H. (2017). A framework for strategic sustainable
development. Journal of Cleaner Production, 140, 17-31.
Capgemini.com (2017), Big fast data :The rise of insight driven business report, Retrieved 25th
August 2017 from
https://www.capgemini.com/resource-file-access/resource/pdf/big_fast_data_the_rise_of_
insight-driven_business-report.pdf

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INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT
Carayannis, E. G., Sindakis, S., & Walter, C. (2015). Business model innovation as lever of
organizational sustainability. The Journal of Technology Transfer, 40(1), 85-104.
Cohen, B., & Kietzmann, J. (2014). Ride on! Mobility business models for the sharing
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to sustainability challenges. Journal of Cleaner Production, 113.
Epstein, M. J., & Buhovac, A. R. (2014). Making sustainability work: Best practices in
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