Value-added business models: Linking professionalism and delivery of sustainability

The property and construction industry's lack of progress towards sustainability is sometimes blamed on corporate short-sightedness and short-term profit-seeking. What is unfortunately not often taken into account is what constitutes an appropriate business model. The industry faces a paradox: long-term sustainability of this sector requires major changes to current practices, but in order to finance the necessary investment to change, short-term profits are required. Inherent structural characteristics of the industry inhibit this desired transformation, especially as industry structures currently do not reward those responsible for a building's added-value or performance. A business model is needed which genuinely relates price and earnings to the actual performance delivered to the customer and society. This dilemma is considered from the points of view of businesses and individual professionals. Research into sustainability of buildings should be underpinned by innovation in business models that: (1) provide business incentives for long-term service levels and performance of actual facilities; (2) enable and empower professionals within the businesses to act according to long-term goals; and (3) provide sufficient short-term returns for financing the two other objectives.