A New Sustainability Model – A Four Essential Quadrants Framework

Fioravante Philip L. ()
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Fioravante Philip L.: Walsh College, Troy, MI, USA

Economics and Culture, 2021, vol. 18, issue 1, 113-124

Abstract: Research purpose. This paper will present contemporary ideas on how, when, and where the four quadrants are vital to the sustainability of an organization and central to the future of the entity. There have long been suppositions and actual operational level models featuring three primary rudiments. Much of the prior research and modeling has centered on Economic, Social, and Environmental as the basis for sustainability within business models. This particular research brought new perspectives and addressed some deficiencies in the existing sustainability models. Design / Methodology / Approach. A qualitative methodology aligned with an axiological philosophical assumption is evidenced throughout the explanatory review, and new open-ended interviews focused on values while discussing the nuances of sustainability. The methodology applied is a review of relevant literature on sustainability, critical thinking, CSR, and financial acumen that was utilized to augment the interviews. Findings. This new and distinct perspective develops and puts forth four quadrants that are corollary to these three core elements. However, this version purports a more comprehensive and holistic framing with a focus on Financial Acumen, Critical Thinking, Creativity & Innovation, and Corporate Social Responsibility (CSR). Each of these “new model” fundamentals provides a broader application for sustainability within a business strategy as companies look to distinguish themselves in the markets served. There is no doubt that executives are faced with a myriad of complex and, in some sense, extraordinary demands on the business. Originality / Value / Practical implications. This sustainability model captures four imperatives for sustaining and improving business performance and, in the end, a sophisticated and authentic approach providing engagement by and with all stakeholders. Financial acumen must be comprehensive and create value; Critical Thinking must be pervasive throughout the organization; Creativity & Innovation must drive systematic improvements throughout, and Corporate Social Responsibility should be a core business strategy for both employee engagement and creating external social influences. Though this last supposition can be argued such as Friedman put forth, there remains the awareness and recognition of the importance of CSR in a business model. This particular research will broaden the view of those involved with sustainability to now include critical thinking, creativity, and innovation.

Keywords: Sustainability; Social responsibility; Critical thinking; Financial acumen; Innovation (search for similar items in EconPapers)
JEL-codes: M1 O4 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ecocul:v:18:y:2021:i:1:p:113-124:n:3

DOI: 10.2478/jec-2021-0009

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