Life-cycle business strategies for sustainable business models
This course is based on the article, Life cycle-based generic business strategies for sustainable business models by Yoon-Young Chun & Kun-Mo Lee. The article describes a study undertaken of 105 Korean business cases that was undertaken to extract general rules and conditions from the cases and develop guidelines for business success. The paper identifies the generic business strategies corresponding to each life cycle stage of a product and service in order to create a sustainable business model. These strategies can be used to help conventional manufacturers make their business model more sustainable and/or develop a new, sustainable one. The article argues that pursuing business strategies based on the life cycle perspective is critical to the success of a business model.
The educational aim of this module is to enable learners to recognise that the success of a sustainable business model depends on a mixture of pertinent generic business strategies from the life cycle perspective. Furthermore, learners will learn that a new business model using generic business strategies (such as eco-design as well as product-service system (PSS)-oriented strategies geared at the relevant life cycle stage) produced significant environmental, economic, and social performance improvements.
Upon completion of this module learners should:
1. Have a clear understanding of:
- Factors that determine the success of sustainable business models;
- The relationship between business models and business strategies;
- The main business life cycle stages; and
- The importance of a mixture of business strategies in sustainable business models.
2. Be able to:
- Analyse the key characteristics and benefits of sustainable business models;
- Analyse the importance of life-cycle-based approaches for sustainable business success;
- Determine the value of a product-service system for enhancing; competitiveness and sustainability;
- Compare the business strategies that are appropriate for different life-style stages of a business;
- Determine the requirements for sustainable business strategies; and
- Evaluate the requirements for business models for a sustainable economy.
Instruction for this Module
- Read the supplied reading material and complete the quiz at the end
- You need to pass the quiz and complete the course rating to generate the module certificate at the end
- You have three attempts to pass the quiz
- The pass grade is 70%
- Please click on the CPD certificate link to claim your certificate and to update your CPD Manager
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