Adopting Sustainable Business Model for Small Scale Businesses in Nigeria: A Review with Implication for Further Research

ADOPTING SUSTAINABLE BUSINESS MODEL FOR SMALL SCALE BUSINESSES IN NIGERIA: A REVIEW WITH IMPLICATION FOR FURTHER RESEARCH

Julius T. Ndaghu, Dr. Mary V. Augustine, Dr. Faiza A. Bawuro & Murtala Ibrahim

Department of Business Administration, Faculty of Social and Management Sciences,

Modibbo Adama University Yola, Nigeria.

Abstract

This paper attempts to investigate sustainable business models for small scale businesses in Nigeria. Studies of sustainable business models are becoming more and more popular in recent times, however, businesses in Nigeria seldom include sustainability elements or the triple bottom line (TBL) concept in their business model design. The paper draws attention to the fact that, the contribution of this model in resolving TBL issue is not only to sustain business performances but also in order not to compromise the future generation’s ability to meet their own needs. The work also examined major diagnostic tools for sustainable assessments such as, life cycle analysis, full-cost pricing, key performance indicators (KPI), stakeholder mapping and TWOS analysis from the TBL Perspective. The work further revealed that, the business as usual model needs to be continuously challenged among small scale business owners, with the understanding that the revolutionized sustainable business model will stimulate business growth and development.

Keywords: Sustainable business model, triple bottom line, performances, diagnostic tools.

Download

Ndaghu, J.T; Augustine, M.V; Bawuro, F.A & Ibrahim, M. (2022). Adopting Sustainable Business Model for Small Scale Businesses in Nigeria: A Review with Implication for Further Research. African Journal of Business and Economic Development, 2(2), 1-6. Available online at: https://www.ijaar.org/articles/ajbed/v2n2/ajbed-v2n1-Jan22- p218.pdf

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