The model enables firms to deliver long-term value to their direct and indirect stakeholders without compromising their ability to meet the needs of future stakeholders, with a particular focus on the creation of social, environmental and financial value.42 The model comprises four key components: foundation, principles, practices and enablers. It is the foundation of the model and posits the economic, social and environmental spheres as the three core elements for formulating strategies to achieve inclusive and sustainable development. These practices are achieved by integrating societal concerns in companies' business models, operations and interactions with stakeholders.