BUSINESS AS UNUSUAL
The Role of the Industry in Achieving the Sustainable Development Goals

Model Based on Abe, M., & Franco, I (2017). Socially Responsible Business: A Model for a Sustainable Future. Bangkok: United Nations Economic and Social Commission for Asia and The Pacific. 

Summary

The private sector is rapidly changing the role of businesses by developing inclusive corporate sustainability practices.  In recent years there has been increasing focus on the need for a greater involvement in the industry towards building a more sustainable and inclusive business model which focuses on providing society with sustainable outcomes. Traditional business models are being replaced by sustainability agendas in which the private sector plays a key role in the achievement of overall sustainable development. In collaboration with the United Nations Economic and Social Commission for Asia-Pacific, this study proposes the refinement of a model to corporate sustainability. Adapted from the original Socially Responsible Business: Model for a Sustainable Future, the model enables firms to create value in a sustainable business ecosystem (UNESCAP, 2016; Abe and Franco, 2018).

Objectives

• Explore the role that the industry plays in achieving the sustainable development goals and the role it could play
• Educate corporate executives (on their roles and responsibilities) for fostering inclusive and sustainable business models in the industry and recommend ways in which sustainable business models can be incorporated into the business strategy
• Identify the factors that limit (risks) or foster (opportunities) the private sector’s ability to transforming existing business models towards more sustainable business. 

• Determine the priority areas for inclusive and sustainable development (in alignment with the sustainable development goals) and to what extent they are valuable for the industry, its shareholders and stakeholders.

Industry-Research Impact
By mainstreaming inclusive and sustainable business practices as an exemplary governing model for business conduct, a more positive risk culture, respectful for external stakeholders’ concerns, emerges (ESCAP, 2016). Based on background research on socially responsible business models (Abe and Franco, 2019), the proposed study seeks to refine the existing model and recommend ways to integrate it to the business strategy in selected industries in Australia and elsewhere. It is expected that such integration will reduce risks emerging from unexpected incidents caused by social tensions or environmental disasters in locations where the industry operates. Importantly, it will also recommend ways in which the model can also reduce a number of potential issues that may hamper corporations’ relationships with external stakeholders and their ability to expand business operations. 

This study also aims to increase the knowledge of sustainability leaders in the private sector on sustainable business practices. This study will also propose business and policy recommendations on how to better engage with external stakeholders and integrate inclusive and sustainable practices into business operations of large, medium-sized and small enterprises in selected industries. 

How to get involved?

• Complete online survey here 
• Individual Interviewee 
• Podcast Guest
• Speaker on Sustainability at AIBE's Conversation Series 
• Piloting the proposed Business Model at your organisation 
• Participant in stakeholder consultation group on sustainability

​Contact Dr. Isabel B. Franco, Research Fellow at the Australian Institute for Business and Economics (AIBE) to express your interest in the project or to find out more about industry-collaboration opportunities in corporate sustainability.

Dr. Isabel B. Franco 
Research Fellow
M: +614040512757
E: connect@drisabelfranco.com ; isabelfranco@uq.edu.au