Sustainability has become an emerging topic that shapes how firms strategize to secure better business opportunities and financial performance. The recent increase in the number and market share of Environmental Social and Governance (ESG) and sustainable oriented firms whether large or small has intensified competition in this new industry. However, whether it pays to be sustainable in all market types is yet to be determined. The term 'one size fits all' does not apply to sustainability, since there are complexities that require addressing. The complexity of developing a model that is suitable enough to be called sustainable and legitimate enough to matter still requires intense deliberation by major stakeholders. Sustainability can unlock global business potential of approximately USD 12 trillion by 2030. Yet, OIC countries still lag in the SDG index and are trapped in survival entrepreneurship. This thesis aimed to shed light on the significance of developing a model that addresses the material issues according to market and firm types. The thesis also examined the relationship between embedding sustainability practices in the social, environmental and economic realms and financial performance. The study also focused on the indirect outcomes of embedding sustainability such as productivity and competitiveness. The thesis used structural equation modeling (SEM) confirmatory Factor Analysis (CFA) to investigate whether the relationships are evident.