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.

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

In order to adhere to the concept of sustainable development, firms are increasingly expected to develop innovations that reconcile economic, environmental, and social goals (i.e., sustainable innovations). However, achieving this goal is not straightforward, and although several studies have attempted to improve our understanding of sustainable innovation, a systematization of extant findings is lacking. Therefore, this paper conducts a literature review with the objective of organizing previous research regarding sustainable innovation. A systematic approach is adopted, identifying 69 relevant articles. These articles are organized according to three key perspectives: internal managerial, external relational, and performance evaluation. The results demonstrate that the first perspective, incorporating diverse managerial aspects, is the most considered, whereas the second and third perspectives remain underdeveloped. The paper concludes with suggestions for future research.

Understanding sustainable innovation: A systematic literature review

The rationale of this study was to investigate the effect of innovation types on business sustainability in the small and medium enterprises (SMEs). Quantitative approach was used for collecting th...

Impact of Innovation Capabilities on Business Sustainability in Small and Medium Enterprises

Innovation matters. Business success increasingly depends upon sustainable innovation. Observing recent innovation best practices, the emergence of a new paradigm is traceable. Creating an innovative ecosystem has a multilayer effect: It contributes to regional digitalization, technological start-up emergence, open innovation promotion, and new policy enhancement retro-feeding the system. Public policy must create open innovation environments accordingly with the quintuple helix harmonizing the ecosystem to internalize emerging spillovers. The public sector should enhance the process, providing accurate legal framework, procurement of innovation, and shared risks in R&D. Opening the locks that confine the trunks of community, academic, industry, and government innovation will harness each dimension exploiting collective and collaborative potential of individuals towards a brighter sustainable future. In this sense, the aim of this study is to present how open innovation can enhance sustainable innovation ecosystems and boost the digital transition. For that, firstly, a diachronic perspective of the sustainable innovation ecosystem is traced, its connection to open innovation, and identification of the university linkages. Secondly, database exploration and econometric estimations are performed. Then, we will ascertain how far open innovation frameworks and in particular the knowledge flows unveiled by the university promote smart and responsible innovation cycles. Lastly, we will propose a policy package towards green governance, empowering the university in governance distributed ecosystem, embedded in the community, self-sustained with shared gains, and a meaningful sense of identity.

https://www.mdpi.com/2071-1050/12/19/8112/pdf

Open Innovation 4.0 as an Enhancer of Sustainable Innovation Ecosystems

The paper focuses on the analysis of the cryptocurrency open innovation market to predict sustainable growth in the future. The nature of cryptocurrencies ‘development leads to the rapid increase in their popularity and spread of trading at this new market. The high volatility of these assets is encouraging to understand and predict their price in ever changing market environment. The paper proposed the pool complexity approach to choose optimal technology using social activity in the internet, trading parameters, technical indicators and other cryptocurrency data. According to the results of the analysis, the most effective and promising cryptocurrency is EOS cryptocurrency, which has the lowest complexity and commission level among the analyzed digital currencies and allows you to implement third-party applications in the system.

Cryptocurrency Market Analysis from the Open Innovation Perspective

Open innovation and its effects on economic and sustainability innovation performance

Open innovation (OI) and sustainable innovation (SI) are concepts that are contested, but widely used, both in business practices as well as in management science. This systematic, explorative analysis of literature focuses on the clarification of the concept of OI for SI from a company perspective and provides a comprehensive literature review. By qualitatively analysing 19 papers that were published between 2003 and 2015, we show that OI is an important concept for SI, although its concrete application and impacts still remain debatable. The analysis presented contributes to existing research by linking OI and SI and clarifying the concepts. Our results imply that future research areas of interest include the social dimensions of SIs or OI in the context of life-cycle-thinking, but also support practitioners by providing a discussion of practical cases whereby OI practices have been applied within a sustainability context.

Is open innovation supporting sustainable innovation? Findings based on a systematic, explorative analysis of existing literature

The collection, managing and communication of environmental information are nowadays seen as an essential prerequisite for sustainable development. However, ways of generating and exchanging environmental information differ within and between companies. Moreover, the use of highly sophisticated environmental information systems can still be seen at in its infancy. The aim of this chapter is thus to assess ways of the application of environmental information systems for sustainable development, both within and between organizations, can be supported. An empirical analysis of those barriers and obstacles, which inhibit the implementation of environmental information systems, is also carried out. Additionally, we also pay attention to forms of industry wide environmental protection, and take existing cooperation and relationships, sustainable supply chains, and recycling networks into account. For this purpose, basic conditions for the inter-organizational exchange of environmental information are investigated. This provides the basis for identifying means to strengthen the position of environmental protection in connection with inter-organizational exchange of environmental information. Improved methods of implementing environmental information systems within and between companies are developed, thus promoting greater cooperation for sustainable development. DOI: 10.4018/978-1-4666-0882-5.ch5.5

Elke Perl-Vorbach

Papers

Open innovation and its effects on economic and sustainability innovation performance

Is open innovation supporting sustainable innovation? Findings based on a systematic, explorative analysis of existing literature

Communicating Environmental Information on a Company and Inter-Organizational Level