Article2015

The World Needs a New Business Model: Poverty Alleviation, Food Security And Job Creation Through Principles of Efficiency and Competitiveness

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Innovation and Socioeconomic Development Sustainable Development and Environmental Management Sustainability and Innovation in Business

Abstract

The current economic system fosters worldwide free trade to reduce production costs while increasing outputs and profits. However, it fails to fulfil the needs of the poorest sections of humanity, generates massive unemployment and debt and wastes non-renewable resources, causing widespread environmental decay. As a substitute to this negative short-term strategy, this article lays out an alternative philosophy based on principles of comprehensive and competitive efficiency known as the Blue Economy. Some examples of successfully implemented ventures inspired by the business model that recycles waste, generates employment and ensures universal food security are provided.

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