Proceedings of The 5th International Academic Conference on Management and Economics
Year: 2022
DOI:
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Sukuma-Business Sustainability Model
Fredrick Etyang
ABSTRACT:
The SUKUMA-Business Sustainability Model is a product of rigorous research into how businesses can sustain their operations in the wake of an economic crisis. The word SUKUMA is a Swahili word meaning ‘Push’. This model is designed to support business actors through reinforcing businesses during hard economic times. The model hypotheses that in times of economic crisis, actors must support businesses internally with the SUKUMA-Business Sustainability Strategies and externally, with the environmental forces, which resultantly leads to low operational costs, competitive pricing, increased demand and high turnover accelerating profitability consequently leading to BUSINESS SUSTAINABILITY. This model is designed to induce businesses to gain momentum and achieve their primary objectives. The SBSM is not meant to replace the already existing business models but to complement them during economic shocks which usually paralyze the indigenous models leading to stunted business growth or failure. Therefore, this model will support business owners through sustainability of business operations, on the other hand, governments will achieve their targets of revenue collection amidst the global crisis, finally, robust implementation of this model will foster the market forces of demand and supply to take charge leading to economic stability in individual economies prior to the global stability. The inventor of the model assumed that post-COVID-19 business recovery requires a robust sustainability model. The possible effects of the Russia-Ukraine conflict on the global economy were factored into the development of this model, therefore, it’s operationalization will greatly impact on the performance of MSMLE’s affected by the economic shocks.
keywords: Economic, Crisis, Inflation, Pricing & Profitability.