Abstract

The previous approaches to the implementation of sustainable development are insufficient to create truly revolutionary transformations of organizations, markets and societies. As a result, humanity is on the verge of an ecological catastrophe which will have extremely serious socio-economic consequences. In the face of contemporary challenges of sustainable development, there is a need for a rapid and radical change in the approach of business to people and the natural environment. In this context, the concept of sustainable business models deserves attention, as it extends the existing understanding of the role of business in solving social and environmental problems.

The aim of the article is to analyze the current state of knowledge and present the basic concepts, assumptions and definitions of sustainable business models. This is a review paper. The adopted research method is an analysis and synthesis of English-language literature sources. At the beginning, the article indicates the place of research on sustainable business models in contemporary scientific works. Next, attention is paid to the concept of value as an element combining the logic of a business model and a sustainable business model. In the main part, various approaches and attempts to define sustainable business models and criteria for this type of projects are analyzed and presented. The role and types of innovation in sustainable business models are also presented. Finally, the evolution of the approaches to sustainable business models is considered, as well as the ways in which this concept might develop in the future.

Keywords: sustainable business models, sustainable business model, impact startups, sustainable development, impact, sustainable innovation, hybrid business models, social business

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