short-term demands of shareholders, is
a bold and refreshing move; one that
will drive investors towards longer-term
perspectives. If this approach spreads,
it changes everything.
Those businesses that will prosper,
will be those that create what Umair
Haque calls 'thick value' – meaning
sustainable and meaningful value
– in meeting the real needs of
people, communities and the
environment in universally
affordable and sustainable
ways. The opposite of this is of
course 'thin value', which Haque
describes as a mirage; something
that ultimately evaporates.
Sainsbury's approach to New
Fashioned Values appears to be taking
a step in the right direction. The retailer
seems to be making a genuine attempt to
keep pace with its customers, recognising
the difficult economic times that have led
to the rediscovery of thrift in our shopping
and cooking habits, which also align with
a desire for quality, sustainability and
great value.
In fact, the whole retail model has many
challenges. Shopping has become the story
of consumers and consumption; it is the
very antithesis of our new sustainable
business narrative. Consumption is all
about our insatiable desire for more
and more stuff.
Jules Peck urges us to draw a most
insightful distinction between
consumers and citizens. The
'perfect consumer' has a higher
than average environmental
footprint and is more closed
than others to pro-social and
environmental behaviour-
change messaging. The 'perfect
citizen', on the other hand, has
a much lower environmental
footprint, and is far more open
to pro-social and environmental
behaviour-change messaging. The
key point is that we need to develop
products, services and brands that
help take people on an authentic journey
towards citizen-centric lifestyles and to
maximise the ecological efficiency of a
well-being economy.
But, fundamentally, we also need to
wean ourselves off the triple-drugs
of growth, profit maximization, and
consumption. This is not easy, and while
circular economy principles will help, we
also need to engage with more mindful
Sustainable Business Business models 5/8
Society needs to
make the move
from a consumer-
based society to
a more 'citizen-
centric lifestyle
