{"title":"In the eye of the beholder: Stakeholder perceived value in sustainable business models","authors":"Simon Norris","doi":"10.1016/j.lrp.2023.102406","DOIUrl":null,"url":null,"abstract":"<div><p>The sustainability of business models is commonly determined by their value creation for a wide range of stakeholders. This value is primarily conceptualised through the aggregated macro-level Triple Bottom Line (TBL) dimensions of social, ecological and economic value. However, few business model studies provide an explanation as to why and how stakeholders see such value in a business model. A <em>problematising review</em> reveals a conflation of the TBL macro-level and stakeholder micro-level of analysis, causing ambiguity regarding contents and recipients of value. This paper adopts a <em>perceived value</em> concept based on micro-level insights from recipient-centric (strategic) management to reform the construct of ecological, social and economic value. The relationships between value perceptions, need fulfilment and need satisfiers are analysed based on the characteristics of <em>subjectivity</em> and <em>heterogeneity</em>, <em>one-sidedness</em> and <em>non-linearity</em>, <em>situation-specificity</em> and <em>transience, spill-over, relationality</em> and <em>experientiality</em>, <em>idiosyncrasy</em>, <em>incommensurability</em>, and <em>interdependence</em>. The analysis underscores a value creation theory based on stakeholder perceptions of need fulfilment. It suggests stakeholder value creation can only be understood through the stakeholders whose needs are being satisfied. The suggested distinction between needs and satisfiers remedies their conflation in previous research and enables a discussion of conditions for <em>sustainable</em> stakeholder value creation.</p></div>","PeriodicalId":18141,"journal":{"name":"Long Range Planning","volume":"57 1","pages":"Article 102406"},"PeriodicalIF":7.4000,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0024630123001139/pdfft?md5=f0977a54eb3f1bc160883a3500d02344&pid=1-s2.0-S0024630123001139-main.pdf","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Long Range Planning","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0024630123001139","RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0
Abstract
The sustainability of business models is commonly determined by their value creation for a wide range of stakeholders. This value is primarily conceptualised through the aggregated macro-level Triple Bottom Line (TBL) dimensions of social, ecological and economic value. However, few business model studies provide an explanation as to why and how stakeholders see such value in a business model. A problematising review reveals a conflation of the TBL macro-level and stakeholder micro-level of analysis, causing ambiguity regarding contents and recipients of value. This paper adopts a perceived value concept based on micro-level insights from recipient-centric (strategic) management to reform the construct of ecological, social and economic value. The relationships between value perceptions, need fulfilment and need satisfiers are analysed based on the characteristics of subjectivity and heterogeneity, one-sidedness and non-linearity, situation-specificity and transience, spill-over, relationality and experientiality, idiosyncrasy, incommensurability, and interdependence. The analysis underscores a value creation theory based on stakeholder perceptions of need fulfilment. It suggests stakeholder value creation can only be understood through the stakeholders whose needs are being satisfied. The suggested distinction between needs and satisfiers remedies their conflation in previous research and enables a discussion of conditions for sustainable stakeholder value creation.
期刊介绍:
Long Range Planning (LRP) is an internationally renowned journal specializing in the field of strategic management. Since its establishment in 1968, the journal has consistently published original research, garnering a strong reputation among academics. LRP actively encourages the submission of articles that involve empirical research and theoretical perspectives, including studies that provide critical assessments and analysis of the current state of knowledge in crucial strategic areas. The primary user base of LRP primarily comprises individuals from academic backgrounds, with the journal playing a dual role within this community. Firstly, it serves as a platform for the dissemination of research findings among academic researchers. Secondly, it serves as a channel for the transmission of ideas that can be effectively utilized in educational settings. The articles published in LRP cater to a diverse audience, including practicing managers and students in professional programs. While some articles may focus on practical applications, others may primarily target academic researchers. LRP adopts an inclusive approach to empirical research, accepting studies that draw on various methodologies such as primary survey data, archival data, case studies, and recognized approaches to data collection.