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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:
To strengthen communication skills through collaborative learning, group work and in-class presentations.
 
 
LEARNING SKILLS:
To strengthen critical thinking, creative thinking, communication and collaboration.
 

Prerequisites

No Pre-requisites

Program

Part I: Business models in a systemic perspective (12 hours)
During the first part of the course, changes and crisis characterising contemporary ecological-socio-economic systems will be focused on, analysed and discussed. The meaning of sustainability will be introduced from a historical, political and managerial perspective. The role and meaning of business models and strategies will then be placed in this context. The strategic aspects will, therefore, be related to the various actors of the system, with particular attention to natural capital, in the perspective of ecosystem services, policy makers, and consumers. An analysis of European policies on sustainability will be analysed to understand, on the one hand, their impact on business strategies and, on the other hand, the importance of adopting sustainable business models. Particular attention will be paid to the circular economy paradigm as a systemic innovation model.
Part II: Business Models, Sustainability and Innovation (12 hours)
During this part of the course, the main characteristics of a sustainable business model will be highlighted, with particular reference to the generation of sustainable value. It will work on understanding what this type of value is; how it can be generated; who are the essential players in the generation of sustainable value; what tools can support the creation of sustainable value. Sustainable and circular strategies and business models will then be analysed and discussed, as well as those that are not sustainable, in order to fully understand their differences. These aspects will be related to the emerging paradigm of innovation for sustainability.  In order to understand the challenges of strategic decision-making processes for business model innovation, particularly significant teaching cases will be analysed and discussed. The regenerative economy model will, in this context, represent a further pivotal element for understanding sustainable business model innovation processes.
Part III: Sustainable Business model Innovation, collaboration and performance management (12 hours)
During this part of the course, the meaning of business model innovation will be introduced and discussed, as well as that of sustainable business model innovation and circular business model innovation. The core elements of regenerative business strategies will also be discussed in order to understand their innovative value. Collaboration and measurement will be two fundamental concepts in this part of the course. Collaboration will be studied in terms of co-creation of value and responsible innovation, as well as from a system perspective, as outlined in the shared value model. The reasons, importance and challenges of measurement will be explained and discussed. Some tools to support business model innovation, the role of indicators and metrics and what are the processes and methodologies to develop appropriate indicators and measurement tools will be presented. Finally, in terms of both collaboration and measurement, the peculiarities of sustainable and circular value chains and value networks will be presented and discussed.
In all three modules, in-class activities will be favoured (e.g. group discussion, group work); furthermore, along the three modules, students will develop an assignment in which they will be asked to apply approaches and tools for sustainable business model innovation (e.g. circular business model innovation toolkit, business case analysis).

Books

The study of the following documents is necessary:

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)
 
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

The study of these documents is optional:

Bocken, N., Ritala, P., Albareda, L., & Verburg, R. (Eds.). (2019). Innovation for Sustainability: Business Transformations Towards a Better World. Springer 
 
Pane Haden S.S., Oyler J. D. and Humphreys J. H. (2009) Historical, practical, and theoretical perspectives on green management. An exploratory analysis.  Management Decision, 47, 1041 – 1055
 
Ambec S., Lanoie P. (2008). Does It Pay to Be Green? A Systematic Overview. Academy of Management Perspectives, November, 45-62
 
Bansal P. and  Roth K. (2000),  Why Companies Go Green: A Model of Ecological Responsiveness The Academy of Management Journal 43,  717-736
 
Bocken N.M.P., de Pauw I., Bakker C. and van der Grinten, B., (2016), “Product design and business model strategies for a circular economy”, Journal of Industrial and Production Engineering, 33: 308-322
 
Lacy, P., & Rutqvist, J. (2015), Waste to wealth: The circular economy advantage, Heidelberg: Springer
 
Porter M.E., van der Linde C., (1995). Toward a new conception of the environment competitiveness relationship. Journal of Economic Perspectives 9, 97-118
 
Urbinati A., Chiaron D. and Chiesa V. (2017), “Towards a new taxonomy of circular economy business models”, Journal of Cleaner Production, 168: 487-498
 
Zott C, Amit R, Massa L. The Business Model: Recent Developments and Future Research. Journal of Management. 2011;37(4):1019-1042
 
Johnson M., Christensen C., Kagermann H. (2008) “Reinventing your business model” in Harvard Business Review, December 2008 (https://hbr.org/2008/12/reinventing-your-business-model)
 
Pieroni M.P.P, McAloone T.C. and Pigosso D.C.A., (2019), “Business model innovation for circular economy and sustainability: A review of approaches”, Journal of Cleanear Production, 215: 198-216
 
Jabbour, Ana & Luiz, João Victor & Luiz, Octaviano & Chiappetta-Jabbour, Charbel & Ndubisi, Nelson & Oliveira, Jorge & Hourneaux Junior, Flavio. (2019). Circular Economy Business Models and Operations Management. Journal of Cleaner Production. 235
 
Hart S.L. and Milstein M.B. (2003), Creating sustainable value. Academy of Management Executive, 17,  56–67
 
Konietzko, J., Das, A., & Bocken, N. (2023). Towards regenerative business models: A necessary shift?. Sustainable Production and Consumption, 38, 372-388
 
Kirchherr, J., Reike, D., & Hekkert, M. (2017). Conceptualizing the circular economy: An analysis of 114 definitions. Resources, conservation and recycling, 127, 221-23

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.
 

Exam Rules

The student's assessment involves a written test in which open questions are proposed on the course topics and an assignment involving the application of approaches and tools for sustainable innovation of business models, in accordance with the training objectives that include both knowledge and know-how. In the light of and in application of the Dublin descriptors, the student must demonstrate, on the one hand, knowledge, recognition and the ability to critically analyse topics and, on the other hand, the ability to independently apply approaches and tools for sustainable innovation of business models. The examination is marked by a grade expressed in thirtieths.  The mark expressed in thirtieths is based on the following criteria
o Unsuitable: major deficiencies and/or inaccuracies in knowledge and understanding of the topics; limited capacity for analysis and synthesis, frequent generalisations.
o 18-20: barely sufficient knowledge and understanding of the topics with possible imperfections; sufficient capacity for analysis, synthesis and autonomy of judgement.
o 21-23: routinary knowledge and understanding of the topics; correct analysis and synthesis abilities with coherent logical argumentation.
o 24-26: fair knowledge and understanding of the topics; good analytical and synthetic skills with rigorously expressed arguments.
o 27-29: comprehensive knowledge and understanding of the topics; remarkable analytical and synthesis skills. Good autonomy of judgement.
o 30-30L: very good knowledge and understanding of the topics. Remarkable analytical and synthetic skills and independent judgement. Arguments expressed in an original manner.
The determination of the final grade takes into account the written examination consisting of two open-ended questions on topics included in the materials (readings, papers, toolkit, slides). The duration of the written examination is 45 minutes. The written examination accounts for 50% of the final grade.
The development of an assignment concerning a business case analysis counts for the remaining 50% of the final grade. The final grade is the average of the grade obtained in the assignment and the grade obtained in the written test.  The final grade is published in Delphi.
Further information on how to do the assignment will be provided in the classroom by the lecturer at the start of the course and on the course website.