Towards a Sustainable Business Model in Light of Inclusiveness, Circularity, and Green Business Practices—A Conceptualisation

In an era of globalisation, businesses face growing pressure to address environmental, social, and economic challenges. The United Nations Sustainable Development Goals (SDGs) offer a universal framework to guide inclusive and sustainable business practices. However, emerging business models, such as circular and inclusive approaches, remain fragmented, creating challenges for widespread adoption and standardisation. This conceptual paper examines sustainable business models by integrating economic, environmental, and social dimensions of sustainability. Focusing on Vietnam, a rapidly developing country with significant foreign direct investment (FDI) inflows, this study explores how sustainable business practices can foster long-term growth and global competitiveness. Using secondary data from company reports and national policies, as well as insights from literature on circular and inclusive business models, the research develops a synergistic framework for sustainable business models tailored to Vietnam’s context. The findings highlight the importance of aligning business practices with sustainability goals and emphasise the need for empirical studies to further refine these models. This study provides a foundation for future research and practical applications in advancing sustainable business strategies in Vietnam and beyond.