Sustainable business model (SBM) can be treated as more mature approach to sustainable business practices than strategy. It is assumed that changes that are made to implement sustainability issues at strategic level and in processes result in reshaping the business model frameworks. Taking into consideration the most recognized approach to sustainability (Triple Bottom Line) (Elkington, 1997), definition of sustainable business models is proposed. “SBM incorporate a triple bottom line approach and consider a wide range of stakeholder interests, including environment and society. They are important in driving and implementing corporate innovation for sustainability, can help embed sustainability into business purpose and processes, and serve as a key driver of competitive advantage” (Bocken et al., 2014).