The aim of the Erasmus BIP Market Analysis of Sustainable Business Concepts program is to familiarize students with the concept of sustainable development and engage them in analyzing and reflecting on the potentials and limits of sustainable business models and entrepreneurship. This program draws upon the European Union’s Green Deal strategy to transition the economy towards sustainability, focusing on areas such as sustainable production and consumption, closed resource loops, smarter transportation, and renewable energy systems. Students will gain knowledge and skills to develop, evaluate, and refine sustainable business concepts that create positive societal and environmental value.
The theoretical background of the program includes:
- Sustainable Development and Institutional Environment: Emphasizing the definition of sustainable development and the EU’s policies and initiatives towards sustainability, such as the European Green Deal and the EU Biodiversity Strategy for 2030.
- Sustainable Entrepreneurship and Sustainable Business Models: Exploring the integration of environmental, social, and economic sustainability principles into business practices. Sustainable entrepreneurship aims to create businesses that contribute positively to society and the planet. Sustainable business models focus on creating value for stakeholders while considering long-term perspectives.
- Market Analysis: Involves assessing market conditions, trends, and dynamics using tools such as PESTEL analysis, SWOT analysis, and Porter’s Five Forces. These analyses help understand external factors impacting business models and market conditions.
The project task for participating students includes:
- Reviewing early-stage sustainable business models developed by students of FHD.
- Forming interdisciplinary and multinational working groups to select and analyze one sustainable business model.
- Attending lectures on sustainable business models, market analysis tools, and teamwork.
- Conducting group work sessions to prepare a market analysis for the chosen sustainable business model, focusing on different countries represented by participating students.
- Presenting the market analysis as the final result of the program.
- Complementing the program with lectures providing practical insights from a consulting company working with sustainable entrepreneurs and a company running a sustainable business model in Dresden.
Overall, the program aims to equip students with the knowledge, skills, and practical experience necessary to understand, develop, and analyze sustainable business models in the context of the EU’s sustainability initiatives.