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Syllabus

EN IT

Learning Objectives

LEARNING OBJECTIVES:
A business model represents a set of strategic decisions that determine how companies create, transfer and acquire value based on their internal activities and their relationships with stakeholders, including suppliers and customers. The design of Business Model (BM) is, therefore, a strategic priority for companies. The ecological transition requires companies to adapt their business model or create a new one. By studying Sustainable and Circular Business Model Innovation, new variables are added to traditional Business Model Innovation, such as, for example, cycle loops, regeneration, servitisation, symbiosis.
Sustainable business models aim to generate multiple environmental, social and economic benefits, and not only to reduce and minimise negative impacts on the environment and society, and in doing so they create a more stable relationship of trust with all the players in the value chain, acquiring, also thanks to this, a more stable position in the markets in which they operate and with the other stakeholders. Sustainable business models lead to a sustainable and circular use of resources, at all stages of the value chain; they are supported by technological and digital innovation and fostered by the presence of cultural and behavioural enabling factors.
The course will cover all these topics, providing students with an advanced knowledge of sustainability and circularity and highlighting the integration of these approaches into new business models.
In detail, the learning objectives are:
- Understand and evaluate the role of business models in transformation processes such as ecological transition;
- Understand and evaluate sustainable and circular business strategies;
- Recognise the role of innovation in the development of business models and its many facets;
- Understand and recognise the role of collaboration in sustainable innovation processes;
- Understand the role of metrics in monitoring, controlling and improving performance for the sustainability of new business models;
- Understand and recognise the dynamics of systemic transformation in sustainable business model innovation processes;
- Identify the innovation processes required for the development of sustainable business models;
- Recognise the main variables that underpin business model innovation processes and the main challenges associated with them.
 
KNOWLEDGE AND UNDERSTANDING:
To know and understand the dynamics that support the innovation of business models towards sustainability goals, as well as the enabling factors and management accounting tools.
 
ABILITY TO APPLY KNOWLEDGE AND UNDERSTANDING:
To know how to use the management tools and approaches that support the adaptation of existing business models as well as the adoption of new business models.
 
AUTONOMY OF JUDGEMENT:
To be able to identify and assess the appropriateness of business strategies to the challenges posed by complexity at both market and system levels.
 
COMMUNICATION SKILLS:
Strengthen communication skills through collaborative learning, group work and classroom presentations. Be able to communicate and discuss issues related to sustainable innovation both in contexts where a specialist approach is not required and in contexts where it is needed.
 
LEARNING SKILLS:
Active learning through the analysis of business cases, case studies and context analysis strengthens critical thinking, which is necessary to grow professionally in the field of sustainable management. Active learning through the development of a sustainable innovation project of a business model, following the Design Thinking approach, strengthens creative capacity, which is necessary to manage the challenges of sustainable innovation. Learning through group work and group discussions strengthens the ability to collaborate, which is fundamental to proceeding in sustainable management, which requires a multidisciplinary approach that has collaboration as a prerequisite.

Prerequisites

No Pre-requisites

Program

The Sustainable Business Model Innovation (SBMI) course offers a structured and immersive pathway through the Cambridge Business Model Innovation Process (CBMIP), integrating Design Thinking principles and leading sustainability frameworks. The program moves systematically from framing and understanding the sustainability challenge, through ideation, prototyping, and validation, to the launch and presentation of actionable business model innovations. Each week blends conceptual exploration, practical tools, and collaborative exercises, supporting students as they apply theory to real-world cases and progressively develop an innovative and feasible sustainable business model.
 
Week 1: Framing the Challenge — Sustainability Contexts and EU Policy Landscape
CBMIP Phase: Framing
The first week establishes the intellectual and practical foundation for the course. Students are introduced to the Cambridge Business Model Innovation Process (CBMIP) and the rationale for business model innovation in the sustainability transition. Through systemic and transition theory, students explore how organizations are embedded in—and can help transform—ecological, economic, and social systems. Central to this framing is a critical review of major European policy initiatives, including the European Green Deal and Circular Economy Action Plan, situating business model innovation within current regulatory and institutional contexts. Group discussions and structured reflections help students articulate sector-specific sustainability pressures and opportunities, supported by examples from course slides and readings. The main practical focus is guiding each student group in selecting a real-world company and sector as their project anchor, ensuring all subsequent analysis and innovation is grounded in a tangible context.
Milestone 1: Selection of case and sector (Class 3)
Week 2: Mapping the Current State — Business Models, Sustainability Practices, and Context Analysis
CBMIP Phase: Understanding the Current Model
In the second week, students move from framing to systematic mapping. Lectures and workshops deepen understanding of the Business Model Canvas as both a diagnostic and design tool, examining in detail how value is created, delivered, and captured within their selected company. Central to this week is the introduction and comparison of sustainable and unsustainable business models, using examples and archetypes from course materials to help students recognize both positive innovations and entrenched lock-ins or negative impacts. Students critically evaluate where sustainability is present or lacking in the current model, and use the concept of circularity to discuss pathways for improvement.
The core activity is the comprehensive mapping of both the current business model and its context: students analyze internal sustainability practices, organizational culture, and existing competencies, while also assessing external regulatory, technological, market, and societal pressures. Templates and tools from the Circular Business Model Toolkit and course slides guide this analysis, ensuring a rigorous and structured approach. Comparative peer exchanges foster cross-sectoral learning, allowing students to see how different industries confront common and unique sustainability challenges. By the end of the week, students produce a detailed context map and a robust baseline for future innovation phases.
Milestone 2: Mapping of current business model, sustainability practices, and context analysis (Class 6)
Week 3: Redesigning for Impact — Value Propositions, Stakeholders, and Ideation
CBMIP Phase: Concept Design / Early Create
During the third week, the course shifts toward the creative redesign of value propositions, placing sustainability and stakeholder expectations at the heart of business model innovation. Theoretical frameworks such as the triple value proposition (integrating economic, social, and environmental value) and stakeholder theory provide a foundation for exploring how organizations can generate shared and lasting value. Building on these concepts, students engage with the principles of Design Thinking—especially the “Empathize” and “Define” stages—to systematically investigate the needs and motivations of stakeholders relevant to their chosen case. A central component of the week’s methodology is the use of role-playing exercises. Students assume the roles of key stakeholders identified in their context mapping, conducting simulated interviews and scenario analyses. This immersive approach deepens their understanding of diverse perspectives, potential tensions, and opportunities for co-creation within the system. Empathy mapping and collaborative group discussions supplement the role-play, helping students to distill key insights from these interactions. Guided by these findings, students participate in ideation sessions focused on formulating innovative, sustainability-oriented value propositions. Peer feedback is used to test and refine these propositions, ensuring both conceptual robustness and practical relevance.
Milestone 3: Development of stakeholder insights and value proposition framing (Class 9)
Week 4: Prototyping the Future — Integrating Digital and Regenerative Innovations
CBMIP Phase: Create / Prototyping
Week 4 brings the innovation process into a hands-on, experimental stage, focusing on translating previous insights into concrete business model prototypes. Building on theoretical frameworks from your materials, students explore how digital innovation—including technologies like the Internet of Things (IoT), blockchain, and big data analytics—can drive new forms of sustainable value creation. The week also introduces the principles of regenerative business model innovation, emphasizing approaches that go beyond minimizing negative impacts to actively restoring and enhancing social and ecological systems.
Students review exemplars and cases provided in the course slides to see how digital and regenerative strategies have been applied in real organizations. They then engage in iterative design activities: working in groups, they develop, visualize, and test alternative business model prototypes that integrate these advanced elements, using prototyping tools, templates, and peer review as outlined in the course materials. Attention is paid to potential challenges and enabling factors in adopting these innovations, as well as the ways that digital and regenerative components can be aligned with the company’s sectoral context and stakeholder needs. Throughout the week, facilitated feedback sessions encourage reflective learning, while comparative analysis across teams helps surface best practices and pitfalls.
Milestone 4: Development of alternative innovative business models integrating digital and regenerative innovations (Class 12)
Week 5: Refinement and Validation — Stakeholder Engagement and Performance Measurement
CBMIP Phase: Validate
In Week 5, the course turns toward rigorously testing and refining the most promising business model prototypes. Theoretical inputs draw on frameworks for stakeholder engagement as a process of co-creation and legitimacy-building, drawing out the strategic importance of involving diverse actors in the refinement and validation of innovative models. Students also examine in detail how performance measurement supports sustainable business model innovation, focusing on the role of international frameworks such as the Global Reporting Initiative (GRI) in structuring environmental and social impact assessment.
Practical activities involve developing comprehensive stakeholder engagement plans, which map out key actors, their interests, and mechanisms for meaningful involvement throughout the business model’s implementation. In parallel, students are guided in constructing SMART KPIs (Specific, Measurable, Achievable, Relevant, Time-bound) that are directly linked to the value propositions, objectives, and impacts developed in prior weeks. Workshops and feedback cycles are used to iteratively improve both engagement strategies and measurement systems, ensuring they are credible, actionable, and integrated with the overall business model. Comparative peer discussions allow students to evaluate the feasibility and effectiveness of their plans in relation to sector benchmarks and sustainability standards.
Milestone 5: Development of stakeholder engagement plans and aligned performance metrics (Class 15)
Week 6: Finalization and Presentation — Sustainability Dashboards, Storytelling, and Launch Readiness
CBMIP Phase: Implement / Launch
The final week is dedicated to integration and communication, with a strong focus on storytelling and effective presentation. Students bring together all elements into a comprehensive, actionable sustainable business model, with emphasis on visualizing impact through sustainability dashboards and ensuring financial and operational feasibility, drawing on frameworks and dashboard examples from course slides. Storytelling techniques are explored to help students articulate their business model innovation clearly and persuasively to both expert and non-expert audiences. Peer review sessions and instructor critiques support critical reflection and continuous improvement. The week concludes with formal presentations, where students demonstrate their ability to synthesize theoretical insight, methodological rigor, creative innovation, and compelling communication.
Milestone 6: Development of the final project, including dashboards and financial feasibility adjustments (Class 18)

Books

Binci, D., Gusmerotti, N.M., Cerruti, C., Designing Business Models through Sustainable and Digital Innovation. 2025, Franco Angeli.

Other study materials include slides, assignment development support materials and any readings that will be indicated by the lecturer during the course of the lectures. These materials will be made available on the course website and the course Teams channel.

Bibliography

Evans, S., Vladimirova, D., Holgado, M., Van Fossen, K., Yang, M., Silva, E. A., & Barlow, C. Y. (2017). Business model innovation for sustainability: Towards a unified perspective for creation of sustainable business models. Business strategy and the environment, 26(5), 597-608.
 
Chesbrough, H., Business Model Innovation: Opportunities and Barriers, Long Range Planning, Volume 43, Issues 2–3, 2010, Pages 354-363
 
Hahn, T., & Tampe, M. (2021). Strategies for regenerative business. Strategic Organization, 19(3), 456-477.
 
Bocken, N. M., & Short, S. W. (2021). Unsustainable business models–Recognising and resolving institutionalised social and environmental harm. Journal of Cleaner Production, 312, 127828.
 
Guldmann, E., & Huulgaard, R. D. (2019). Circular business model innovation for sustainable development. Innovation for Sustainability: Business Transformations towards a Better World, 77-95.
 
Van der Byl C. A. and Slawinski N. (2015) Embracing Tensions in Corporate Sustainability: A Review of Research From Win-Wins and Trade-Offs to Paradoxes and Beyond. Organization & Environment, 28(1) 54– 79
 
The Circular Business Model Innovation Toolkit (downloadable here https://ec.europa.eu/research/participants/documents/downloadPublic?documentIds=080166e5c88a8834&appId=PPGMS)

Teaching methods

The course involves the use of different teaching methods: lectures, exercises, group work, preparation of research, analysis of business cases. All these methodologies contribute to the achievement of the training objectives, which are related to both knowledge and know-how. For example, lectures support the understanding of the role of business models in the ecological transition, knowledge of sustainable and circular business strategies, the role of innovation, collaboration, metrics, systemic dynamics, and the main characteristics of innovation processes. Classroom exercises, group work, development of reports and documents and case analysis, on the other hand, support the evaluation aspects of business models and strategies, the identification of innovation processes required for the development of sustainable business models, the recognition of the role of collaboration, metrics, systemic dynamics and the main variables involved in business model innovation. In particular, the use of sustainable business model innovation tools and approaches such as business case analysis, together with group discussions and development of reports and documents, help to support critical analysis skills, creativity, communication and collaboration skills.
 

Teaching methods

The course involves the use of a variety of teaching methods designed to ensure the integration of theoretical knowledge with practical application, fully supporting the achievement of the course’s learning objectives. Lectures provide the conceptual backbone of the program, introducing students to key theories and frameworks such as systemic thinking, the Cambridge Business Model Innovation Process (CBMIP), stakeholder theory, and the principles of sustainable and circular business model innovation. Through these sessions, students gain a thorough understanding of the role of business models in ecological transitions, the strategic relevance of sustainability, and the importance of innovation, collaboration, performance metrics, and systemic dynamics.
Classroom exercises and group work are central to the experiential dimension of the course. Students actively participate in mapping exercises, prototyping sessions, and stakeholder analysis, working collaboratively to develop critical and creative solutions to real-world sustainability challenges. The preparation of reports and project documents, together with the structured analysis of business cases, further deepens students’ evaluative skills, enabling them to assess business model strengths and weaknesses and identify the innovation processes required for sustainable transformation.
The course makes extensive use of practical tools and approaches for sustainable business model innovation, such as the Business Model Canvas, Circular Business Model Toolkit, empathy mapping, and stakeholder engagement planning. Group discussions and iterative peer feedback sessions are woven throughout the course to foster reflective practice, enhance communication skills, and build a collaborative learning environment. Altogether, these methodologies empower students to combine critical analysis, methodological rigor, creativity, and teamwork as they progress through the program’s milestones and develop their final business model innovations.

Exam Rules

Student assessment is designed to evaluate both theoretical knowledge and practical application, in full alignment with the course learning objectives and the Dublin Descriptors. Evaluation is based on two main components:
1. Written Exam (50%)
The written exam consists of two open-ended questions covering both theoretical and applied aspects of the course. Questions are based on content addressed in lectures, course materials, and the adopted textbook. The exam lasts 45 minutes and is designed to assess clarity, depth of understanding, critical thinking, and the ability to effectively apply course concepts and frameworks.
Assessment Criteria:
Students are expected to demonstrate comprehensive understanding, critical reflection, and the capacity to connect theory and practice. The exam is graded according to the following scale (in thirtieths):
• Unsuitable: Major deficiencies and/or inaccuracies in knowledge and understanding; limited capacity for analysis and synthesis; frequent generalizations.
• 18–20: Barely sufficient knowledge and understanding with possible imperfections; sufficient analytical and synthetic skills and autonomy of judgment.
• 21–23: Routine knowledge and understanding; correct analysis and synthesis with coherent logical argumentation.
• 24–26: Fair knowledge and understanding; good analytical and synthetic skills; rigorously expressed arguments.
• 27–29: Comprehensive knowledge and understanding; remarkable analytical and synthesis skills; good autonomy of judgment.
• 30–30L: Excellent knowledge and understanding; outstanding analytical, synthetic, and independent judgment; arguments expressed in an original manner.
2. Project-Based Assignment (50%)
The assignment is structured around the milestones of the course and requires the application of approaches and tools for sustainable business model innovation. The goal is to develop a business model innovation project. The assignment is evaluated for coherence with instructions, clarity and relevance, depth of analysis, originality, and critical use of course concepts and methodologies.
The final grade is the arithmetic mean of the grades obtained in the written exam and the project-based assignment. Grades are published through the official university system (Delphi).
Further Information:
Detailed instructions and all necessary guidance for the assignment will be provided in class at the beginning of the course and made available on the course website. Students are encouraged to consult the instructor for clarification or further support as needed throughout the course.