2 need for high degrees of material and resource ef

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2. Need for high degrees of material and resource ef fi ciency. 3. Need for shifting from linear to circular or closed loop why a focus toward circular economy (CE) 2 Sustainable Development The demands for creating greater environmental and social value, while delivering economic sustainability, suggest the key to radically improve sustainable perfor- mance through sustainable development. Sustainable development is development that meets the needs of the present without compromising the ability of the future generations to meet their own needs (Brundtland Report 1987 ), thus implying needs to attain TBL sustainability. Sustainable development in TCF industries is an approach intended to minimize the negative environmental impacts of the current fashion system and, in turn, maximize the positive impacts (bene fi ts) for the society all along the value chain, thus creating sustainable value (Gardetti 2016 ). To achieve sustainable development, several industrial sustainability models and frameworks are present, viz. industrial ecology, cradle-to-cradle, and The Natural Step (Evans et al. 2009 ). Aneja and Pal ( 2015 ) have further highlighted and compared eight major sustainable development frameworks and their strategic vectors in context to the textile industry. However, Bocken et al. ( 2013 , 2014 ) points out the inherent shortcomings of these industrial sustainability models, as they are broadly underpinned by assumptions of incremental improvement and growth while addressing global challenges. Bocken et al. ( 2014 ) further state to deliver long-term sustainability requires fundamental changes in the global indus- trial system, and this necessitates an integrated approach that goes beyond just ecoef fi ciency initiatives and reconceive how businesses operate. 110 R. Pal
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For this, sustainable enterprises and their representative business models provide the potential for a new approach and can serve as a vehicle to drive societal innovation (e.g., poverty reduction and well-being), and along with preserve eco- logical integrity driven by technological innovation (Hart and Milstein 2003 ), thus leading to a system-level sustainability. Thus, sustainable business models (SBMs) provide a radical system-level perspective toward creating new systems. In this context, this chapter will discuss the SBMs that uphold sustainability in the TCF industries, in accordance with the 8 key archetypes proposed in Bocken et al. s ( 2014 ) (see Sect. 3 ). These archetypes are deemed integral in industrial systems for identifying and understanding the key design aspects or elements underpinning these SBMs, and how they are instrumental in leading toward sus- tainable development in TCF industries. Hence, this chapter will include the following: Major sustainability archetypes and business models (in-line with Bocken et al.
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