A Stakeholder Theory Perspective on Business Models: Value Creation for Sustainability

Business models are developed and managed to create value. While most business model frameworks envision value creation as a uni-directional flow between the focal business and its customers, this article presents a broader view based on a stringent application of stakeholder theory. It provides a s...

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Vydané v:Journal of business ethics Ročník 166; číslo 1; s. 3 - 18
Hlavní autori: Freudenreich, Birte, Lüdeke-Freund, Florian, Schaltegger, Stefan
Médium: Journal Article
Jazyk:English
Vydavateľské údaje: Dordrecht Springer 01.09.2020
Springer Netherlands
Springer Nature B.V
Predmet:
Business
Business and Management
Business Ethics
Business models
Circular economy
Consumers
Customers
Education
Ethics
Expectations
Interest groups
Management
Original Paper
Philosophy
Portfolios
Quality of Life Research
Stakeholders
Sustainability
Theory
Transformation
Value
Value creation
Value creation
Business models for sustainability
Business model
Stakeholder theory
Corporate sustainability
ISSN:0167-4544, 1573-0697
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Shrnutí:Business models are developed and managed to create value. While most business model frameworks envision value creation as a uni-directional flow between the focal business and its customers, this article presents a broader view based on a stringent application of stakeholder theory. It provides a stakeholder value creation framework derived from key characteristics of stakeholder theory. This article highlights mutual stakeholder relationships in which stakeholders are both recipients and (co-) creators of value in joint value creation processes. Key findings include that the concept and analysis of value creation through business models need to be expanded with regard to (i) different types of value created with and for different stakeholders and (ii) the resulting value portfolio, i.e., the different kinds of value exchanged between the company and its stakeholders. This paper details the application of the stakeholder value creation framework and its theoretical propositions for the case of business models for sustainability. The framework aims to support theoretical and empirical analyses of value creation as well as the management and transformation of business models in line with corporate sustainability ambitions and stakeholder expectations. Overall, this paper proposes a shift in perspective from business models as devices of sheer value creation to business models as devices that organize and facilitate stakeholder relationships and corresponding value exchanges.
Bibliografia:ObjectType-Article-1
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ISSN:0167-4544
1573-0697
DOI:10.1007/s10551-019-04112-z