Future of Work and Sustainable Business Models: How Sustainable Entrepreneurship Can Create Added Value

Abstract

The future belongs to sustainable business models which can be proven by current successes. Several companies are now writing success stories based on a management paradigm which aligns sustainability and profitability, rather than seeing them as contradictions (Bungard in CSR and business models. Springer, Berlin, Heidelberg, 2017). Sustainable business models are characterized by their integration of social, ecological and economic factors in a single model. Such models demonstrate entrepreneurial solutions for the social challenges of the twenty-first century which eventually bring profitability (Schneider and Schmidpeter in Corporate social responsibility: responsible corporate management in theory and practice. Springer, Berlin, Heidelberg, 2015). Two megatrends especially are very important: the rapid pace of digitalization and sustainable development (Hildebrandt and Landhäußer in CSR and digitalization—the digital transformation as an opportunity and challenge for business and society. Springer, Berlin, Heidelberg, 2017). Both the trends are closely interlinked; for example, sustainability offers huge business potential, while digital transformation provides major opportunities for execution. The combination of these two global megatrends will lead to changes in economic systems and a profound transformation in the professional world (Spieß and Fabisch in CSR and new worlds of work—changing perspectives in times of sustainability, digitalization and industry 4.0. Springer, Berlin, Heidelberg, 2017). However, entrepreneurs are faced with the choice of whether or not to consider the impact of these new business models on their operations. In this regard, the question also arises as to how these ambitious challenges can be implemented.