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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.
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
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
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.
 

Books

Suggested for attending students and mandatory for non attending students:

1) Baumgartner, R. J., & Rauter, R. (2017). Strategic perspectives of corporate sustainability management to develop a sustainable organization. Journal of Cleaner Production, 140, 81-92.
 
2) Small, A., Owen, A., & Paavola, J. (2022). Organizational use of ecosystem service approaches: A critique from a systems theory perspective. Business Strategy and the Environment, 31(1), 284-296.
 
3) Chesbrough, H., Business Model Innovation: Opportunities and Barriers, Long Range Planning, Volume 43, Issues 2–3, 2010, Pages 354-363
 
4) 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.
 
5) 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
 
6) Hahn, T., & Tampe, M. (2021). Strategies for regenerative business. Strategic Organization, 19(3), 456-477.
 
7)  Bocken, N. M., & Short, S. W. (2021). Unsustainable business models–Recognising and resolving institutionalised social and environmental harm. Journal of Cleaner Production, 312, 127828.
 
8) Guldmann, E., & Huulgaard, R. D. (2019). Circular business model innovation for sustainable development. Innovation for Sustainability: Business Transformations towards a Better World, 77-95.

Bibliography

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, 221-232

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, aiming, as well, at strengthening critical thinking, creative thinking, the ability to communicate and collaborate.

Exam Rules

The exam is specific for attending and non-attending students and assesses the overall preparation of the student, the ability to integrate the knowledge of the different parts of the program, the consequentiality of reasoning, the ability analytical and autonomy of judgment. In addition, language properties and clarity of presentation are evaluated, in compliance with the Dublin descriptors:1. knowledge and understanding; 2. Ability to apply knowledge and understanding; 3. Making judgements; 4. Learning skills; 5: Communication skills.
 
For attending students, the examination is based on a written test. The written examination lasts 1 hour and consists of 2 open questions on topics covered in the classroom during the course. The written examination accounts for 50% of the overall assessment. The remaining 50% of the assessment is based on a project work that students will develop and discuss during the course itself.
 
For non-attending students, the examination consists of an oral discussion of the following papers:
 
1) Baumgartner, R. J., & Rauter, R. (2017). Strategic perspectives of corporate sustainability management to develop a sustainable organization. Journal of Cleaner Production, 140, 81-92.
 
2) Small, A., Owen, A., & Paavola, J. (2022). Organizational use of ecosystem service approaches: A critique from a systems theory perspective. Business Strategy and the Environment, 31(1), 284-296.
 
3) Chesbrough, H., Business Model Innovation: Opportunities and Barriers, Long Range Planning, Volume 43, Issues 2–3, 2010, Pages 354-363
 
4) 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.
 
5) 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
 
6) Hahn, T., & Tampe, M. (2021). Strategies for regenerative business. Strategic Organization, 19(3), 456-477.
 
7)  Bocken, N. M., & Short, S. W. (2021). Unsustainable business models–Recognising and resolving institutionalised social and environmental harm. Journal of Cleaner Production, 312, 127828.
 
8) Guldmann, E., & Huulgaard, R. D. (2019). Circular business model innovation for sustainable development. Innovation for Sustainability: Business Transformations towards a Better World, 77-95.