Reinventing the business model
After developing new ideas and hypothesis from the process in recognizing and rethinking the current business model, the company can decide upon a new business model.
Experimentation
What features of our business model can we experiment with? How can we implement pilots to make our business model more sustainable?
Before going through with making changes to our business model, we would perform experimentations. We are looking into several solution moving forward. Before fully implementing these solutions, it is wise to perform experimentations and testing. This to uncover what works, why it works, and to increase the possibility for success.
Redesign
How can the company integrate sustainability considerations in their value propositions? How can the company deliver its value propositions in a more sustainable way? How can the company charge their customers in other ways?
After experimenting and testing, we would be ready to redesign our business model. This means changing how Slettvoll creates, delivers, and captures value, with the aim of becoming both profitable and sustainable.
Value creation
With our sustainable initiatives, we aim to achieve new key customers, such as environmentally friendly customers, a customer segment which is growing rapidly. We are also planning on attracting more B2B customers. In creating and maintaining the customer relationships a possibility is to develop a customer relationship system as mentioned in Service logic. We will also be communicating and marketing our sustainability efforts.
A new Value proposition can be:
At Slettvoll we offer quality design furniture and sustainable solutions for our environmentally friendly customers. Promoting sustainable consumption and production, protecting the environment.
Capturing value
The new sustainable solutions may result in increased sales, attracting new environmentally friendly customers, as well as reducing costs by using less resources. However, there will also be costs within for example marketing, and IT services.
Delivering value
To deliver the value propositions, we will be working on forming more partnerships with sustainable businesses like Really, contributing to the circularity of resources. Møbelfakta and Møbelkraft are also great partner collaborations for us, sharing knowledge and technology. We will be performing activities such as marketing our green initiatives, calculating EPDs and working on our certifications, constantly working on improvement and measuring our progress, and communicating our efforts.
Circular business models
Our sustainability efforts, plans going forward, as well as opportunities, will influence our business in a way that can lead to a more circular and sustainable business model. Of the five circular business models identified by Accenture, we will be within product life extension and recovery and recycling. See https://bh4s.no/sustainable-business-model-archetypes/circular-economy-business-models
Product life extension
Having great focus on high quality furniture, as well as providing good information on maintaining the products, Slettvoll prolongs the furniture lifespan.
Recovery and recycling
Within Recovery and recycling, we will continue to look for industrial symbiosis, as with the example of the cooperation with textile company Really. This would lead to upcycling of resources that normally would go to waste. In addition, we will be using more recycled material, as well as reducing the use of packaging.