MOre Sustainable MOre Profitable (MOSMOP) Business Model Innovation

In the rapidly evolving global business landscape, the adoption and integration of Environment, Social, and Governance (ESG) principles and standards present both a formidable challenge and a transformative opportunity for businesses across sectors. Traditionally, ESG criteria—ranging from carbon emission reduction and net-zero initiatives to waste management, employment diversity, inclusion, and fair labour policies—have been relegated to the realm of compliance. This compliance-centric view has led many firms to perceive ESG initiatives as cost-bearing rather than profit-generating ventures, thereby diminishing the incentive to enhance ESG performance proactively.

However, a paradigm shift is underway, with evidence mounting in support of ESG as a potent profit-making force. For instance, in the UK, an increasing number of energy consumers are showing a preference for sustainable energy solutions, signalling a broader change in consumer behaviour and value perception towards sustainability. This emerging trend underscores the need for business leaders to rethink and reorient their strategies towards developing more sustainable offerings that not only adhere to ESG standards but also drive higher margins and better returns.

Against this backdrop, the proposed PhD project seeks to chart a new course for ESG-driven business model innovation. It aims to dismantle the traditional view of ESG as a mere compliance issue and reposition it as a cornerstone of strategic business model design that harmonizes profitability with sustainability.

Possible Research Objectives:

The project is structured around three primary objectives:

*Understand Consumer and Stakeholder ESG Perceptions: To dissect and comprehend the evolving perceptions and behaviors of consumers and broader stakeholders towards ESG, thereby identifying new needs and opportunities for sustainable business practices.

*Collaborate with Future ESG Leaders: To forge partnerships with emerging ESG leaders and practitioners, facilitating the exchange of knowledge and best practices in embedding ESG considerations into business models. This collaborative effort will serve as a crucible for reimagining and realigning business models with stakeholder expectations, creating distinctive and sustainable products and services.

*Empower ESG Entrepreneurship: To nurture and empower a new generation of ESG entrepreneurs who can lead the charge in integrating ESG principles into business model innovation. These future leaders are envisioned to play a pivotal role in transforming ESG norms across the business community, leveraging social business networking as a platform for change.

Significance:

This research project is poised at the intersection of academic inquiry and practical business innovation. By developing sustainable and profitable ESG-driven business models, the project addresses a critical gap in current business practices and contributes to the global dialogue on sustainability. The outcomes of this research have the potential to redefine how businesses approach ESG, shifting from compliance to competitive advantage and from cost to profitability.

The project’s focus on collaboration with future ESG leaders and the emphasis on social business networking introduces a novel approach to disseminating and embedding sustainable practices within the business community. This strategy promises to catalyze a broader transformation in business norms, making ESG a central tenet of business model innovation.

Possible Methodology:

The project will employ a mixed-methods approach, incorporating both qualitative and quantitative research techniques. Initial phases will involve detailed market analysis and stakeholder interviews to capture ESG perceptions and needs. Subsequent stages will focus on collaborative workshops and case study analyses with future ESG leaders, aimed at co-designing and testing innovative business models.

Potential Impact:

The anticipated impact of this research is multifaceted:

*The development of a framework for ESG-driven business model innovation, providing a blueprint for businesses seeking to align profitability with sustainability.

*Strategic insights into optimizing business models for ESG performance, contributing to the broader academic discourse on sustainable business practices.

*Practical guidelines for future ESG leaders, equipping them with the tools and knowledge to drive change within their organizations and industries.

*Recommendations for policy and regulatory frameworks that support the adoption of ESG principles in business strategy.

Possible Outcomes:

This PhD project represents a timely and critical investigation into the role of ESG in shaping the future of business. By exploring the nexus of ESG standards, consumer behaviour, and business model innovation, the project seeks to unlock new pathways to sustainability and profitability. The research outcomes will not only advance academic understanding but also offer actionable insights for business leaders, policymakers, and future ESG entrepreneurs, paving the way for a more sustainable and equitable global economy.

Nottingham Business School is triple crown accredited with EQUIS, AACSB and AMBA – the highest international benchmarks for business education. It has also been ranked by the Financial Times for its Executive Education programmes in 2023 and 2024. NBS is one of only 47 global business schools recognised as a PRME Champion, and held up as an exemplar by the United Nations of Principles of Responsible Management Education (PRME). 

Its purpose is to provide research and education that combines academic excellence with positive impact on people, business and society. As a world leader in experiential learning and personalisation, joining NBS as a researcher is an opportunity to achieve your potential.

Applications for October 2024 intake closes on 1st August 2024 and applications for Jan 2025 intake closes on 1st October 2024.

*** for all applicants ***

Understand Our Centre:

The PhD will be conducted under the Centre for Business and Industry Transformation (CBIT). Applicants MUST familiarize themselves with CBIT via:

• CBIT – Centre for Business and Industry Transformation
• CBIT Venture Building

Entrepreneurial Mindset Required:

Our projects are highly practical and require an entrepreneurial approach with a growth mindset. You will need to think innovatively and navigate complex challenges. Do NOT apply if this may be too demanding.

Proposal:

We expect applicants to have significant working experience and existing datasets. Submit a PhD proposal including:

• A clear outline of the data you will collect
• Specific details of how you will access these datasets

Additional Documents:

Along with your proposal, please include the following:

• A copy of your CV
• A 2-page document pitching yourself as an investable PhD candidate.

Submission Instructions:

1. Email all required documents (Proposal, CV, 2-pager pitch) to cbit.edu@ntu.ac.uk.
2. Failure to submit all requested documents will result in no reply.