What does the business model and innovation dimension focus on?

The business model and innovation dimension emphasizes the strategic approaches that companies adopt to create and deliver value in a sustainable manner. This encompasses how businesses design their products and manage their lifecycles, integrating sustainability principles from the initial conception through to disposal or recycling. It reflects the understanding that innovation is key to developing new products or services that meet the changing needs of consumers while minimizing environmental impacts. Thus, this dimension is concerned with how products are designed for longevity, efficiency, and environmental responsibility, ensuring they align with sustainability goals and are part of a closed-loop system. This perspective encourages companies to rethink traditional product development processes by incorporating sustainable practices and innovative solutions that contribute to long-term viability and environmental stewardship.