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Stakeholder engagement and business model innovation value

Author

Listed:
  • Linda D. Hollebeek
  • Sigitas Urbonavicius
  • Valdimar Sigurdsson
  • Moira K. Clark
  • Oliver Parts
  • Raouf Ahmad Rather

Abstract

Despite important strides made in the business model literature, substantially less is known regarding its constituent sub-concept of business model innovation (BMI). In particular, the role and dynamics of different stakeholders’ BMI-related engagement remain nebulous, as therefore explored in this paper. Moreover, though business models are recognized to house firm-based value propositions, the nature and extent of stakeholders’ actual perceived BMI-related value (BMIV) remains tenuous, exposing a second research gap. Addressing these issues, we first develop the BMIV concept, defined as a stakeholder’s perceived value created through some nontrivial new aspect in a firm’s value creation, – communication, -delivery, and -capture mechanisms and activities. Using interdependence theory’s outcome transformation, we then develop a conceptual model that recognizes the role of different BMI stakeholders’ interdependent engagement in creating BMIV. Specifically, BMI stakeholders are predicted to consider the goals/interests of focal others, alongside their own, in their BMI-related engagement, in turn affecting all these stakeholders’ BMIV. We predict BMIV-based stakeholder engagement to differ based on whether stakeholders’ goals/interests converge or diverge: While converging stakeholder goals tend to yield cooperative/equality-based SE, diverging goals trigger altruistic/aggressive SE, as formalized in a set of propositions. We conclude by deriving important implications from our analyses.

Suggested Citation

  • Linda D. Hollebeek & Sigitas Urbonavicius & Valdimar Sigurdsson & Moira K. Clark & Oliver Parts & Raouf Ahmad Rather, 2022. "Stakeholder engagement and business model innovation value," The Service Industries Journal, Taylor & Francis Journals, vol. 42(1-2), pages 42-58, January.
  • Handle: RePEc:taf:servic:v:42:y:2022:i:1-2:p:42-58
    DOI: 10.1080/02642069.2022.2026334
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    Cited by:

    1. Vatankhah, Sanaz & Bamshad, Vahideh & Altinay, Levent & De Vita, Glauco, 2023. "Understanding business model development through the lens of complexity theory: Enablers and barriers," Journal of Business Research, Elsevier, vol. 155(PA).
    2. Mu, Yu & Bossink, Bart & Vinig, Tsvi, 2022. "Developing a classification scheme of service innovation," Annals of Tourism Research, Elsevier, vol. 95(C).
    3. Urbonavicius, Sigitas, 2023. "Relative power of online buyers in regard to a store: How it encourages them to disclose their personal data?," Journal of Retailing and Consumer Services, Elsevier, vol. 75(C).

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