There are numerous processes that simultaneously influence the current state of the global economy and environmental sustainability. Since these processes often have a more adverse impact than positive ones, it is possible to predict that in the future, bigger problems will emerge. This paper aims to investigate the scholarly literature on the identified topic to understand the most important controversies and debated in this area of concern and to review the arguments and common fallacies.
It would be appropriate to begin the investigation of the identified topic by reviewing the article by Schaltegger et al., which is dedicated to the issues related to origins, present research, and future avenues of business models for sustainability (3). The authors suggest that the role of sustainability management in organizations and its contribution to the overall sustainability of society and the environment is well-recognized by the researchers (Schaltegger et al. 3). However, the concept of the business model only recently came into the focus of sustainability management research as the initiating factor of corporate sustainability (Schaltegger et al. 3).
Considering the origins of the idea of the business model, Schaltegger et al. indicate that it derived primarily from work by Stubbs and Cocklin, and then later it was developed by numerous scholars and researchers (4). Another reason for such significant demand for a sustainable business model and management is the recent global economic and financial crises, which have imposed new challenges for nearly every stakeholder in the global economy (Schaltegger et al. 4). A business model is described by the authors as the instrument for value creation, and it also functions as the mechanism of capture and delivery. Overall, the origins of the business model concept are multidisciplinary.
Further, it is essential to discuss the future of the implementation of business models and sustainability management. The article by Schaltegger et al. suggests that there is no currently established consensus on this topic, and thus it is not possible to determine the only right track for further development of this sphere (5). Therefore, the issue under discussion is subject to constant debates among scholars and researchers. Some theorist considers business models to be the new approach to technology development since they think that sustainability-oriented innovations will benefit the current business systems (Schaltegger et al. 5).
However, other researchers suggest that it is essential to draw parallels between business models and business cases as a means of improving corporate sustainability (Schaltegger et al. 5). Another existing perspective, which to some extent overlaps with the previously mentioned opinion, perceives sustainable business models as a means of facilitating ecological and environmental sustainability (Schaltegger et al. 5). Nevertheless, it is also appropriate to mention that some scholars consider the employment of such business models as the instrument for addressing social needs. Some of them discuss the “entrepreneurial approaches to improving health care services in poor regions,” while others created “a typology of “isolated” and “interactive” business models in low-income markets” (Schaltegger et al. 5).
Thus, it is apparent that there is no universal answer to the question of the further development of the concept of the business model. However, this problem is of immense significance because this approach has considerable potential for the development of the future economy. According to Schaltegger et al., there are perspectives of facilitating and improving the notion of business models by combining organizational and individual-level theories (8). The combination of economic and environmental problems, which is projected to have a more negative impact in the decades to come, is the primary factor for focusing the attention of the researchers on the development of more sustainable ways of managing organizations and businesses.
Another aspect of the future economy, which is of significant interest, is the availability of jobs. As David points out, during the last two centuries, there were several outbreaks of people’s uncertainty about the future of their workplaces that are taken by automation (3). The first and one of the most recognizable social movements connected to this issue is the Luddite movement of the early 19th century, which emerged in the environment of a rapidly increasing level of industrialization in England (David 3). However, in recent years the similar concerns seemed to appear again. It is evident that technologies are developing at an increasing speed in the past two decades, and thus it is not surprising that people are frightened by their inability to compete with machines and robots in terms of efficiency. Nevertheless, David concludes that it is not likely that the number of jobs occupied by humans will dramatically decrease in the following decades (26). Instead, he suggests that these processes will be more integrative, with the employment of the principles of machine learning (David 27).
Further, it is appropriate to change the focus of this essay from economic perspectives to the future of the environment. This issue is arguable even more important for future generations since the declining state of environmental health is considerably worrying. To illustrate this thought, it is possible to mention the article by Neumann et al., in which the group of authors explores the issue of future coastal population growth and its influence on exposure to sea-level rise and coastal flooding (1). As the authors suggest, there are two main trends: the exposure to a larger amount of risks, which is experienced by people who live in coastal areas, and at the same time, these areas have the highest rates of urbanization and population growth (Neumann et al. 3).
The article by Neumann et al. conducts immensely profound research based on statistical and quantitative methods of projecting the results. One of the principal findings of the authors is that in the period between 2000 and 2030, the population of the coastal area will increase at least by 50%, according to the lowest growth assumptions (Neumann et al. 20). Another trend, which is predicted by the authors, is that the less developed countries outnumber the more developed regions regarding population in the same time scope that was mentioned in the previous example (Neumann et al. 20). China is marked as the country with the highest projected coastal population by the year 2030 (Neumann et al. 20). Also, it is essential to mention that the authors consider Africa to be the most urbanized coastal area by the end of the same period of projection (Neumann et al. 21). However, the authors suggest that these places of habitation will also be subject to the risks of flooding, and thus specific policies will be implemented to avoid possible problems.
Concerning the topic of the future of the planet’s environment, the issue of resources of renewable energy is also of immense importance. In the article by Ellabban et al., the authors suggest that one of the most urgent needs of contemporary environmental management is to decrease the emissions of greenhouse gases (748). It is proposed to find new resources of energy, which has to be renewable and be considerably less damaging to the environment. Another approach is suggested by Cucchiella et al.: the authors state that the appropriate assessment of present and future e-waste streams is also a highly important aspect of maintaining environmental health (263).
In conclusion, it should be stated that the future of the economy and environment appears to be questionable at the moment. There are numerous adverse factors that impose considerable challenges to the sustainability of global economic and environmental systems. However, there are several currently developing perspectives that would help to facilitate the condition of future economies and the environment.
Works Cited
Cucchiella, Federica, et al. “Recycling of WEEEs: An economic assessment of present and future e-waste streams.” Renewable and Sustainable Energy Reviews, vol. 51, 2015, pp. 263-272.
David, H. “Why are there still so many jobs? The history and future of workplace automation.” Journal of Economic Perspectives, vol. 29, no. 3, 2015, pp. 3-30.
Ellabban, Omar, et al. “Renewable Energy Resources: Current Status, Future Prospects and Their Enabling Technology.” Renewable and Sustainable Energy Reviews, vol. 39, 2014, pp. 748-764.
Neumann, Barbara, et al. “Future Coastal Population Growth and Exposure to Sea-level Rise and Coastal Flooding – A Global Assessment.” PloS One, vol. 10, no. 3, 2015, pp. 1-34.
Schaltegger, Stefan, et al. “Business Models for Sustainability: Origins, Present Research, and Future Avenues.” Organization & Environment, vol. 29, no. 1, 2016, pp. 3-10.