IDEAS home Printed from https://ideas.repec.org/a/bla/bstrat/v32y2023i7p4485-4502.html
   My bibliography  Save this article

Creating shared value through open innovation approaches: Opportunities and challenges for corporate sustainability

Author

Listed:
  • Mark Anthony Camilleri
  • Ciro Troise
  • Serena Strazzullo
  • Stefano Bresciani

Abstract

To date, few researchers have linked open innovation approaches with triple bottom line corporate sustainability objectives in terms of economic, social, and environmental performance. A systematic review suggests that the businesses' collaborative relationships with external consultants or organizations can increase their competitive advantage, as external stakeholders could assist them in the development of sustainable innovations, diversification into different markets, and in the generation of new revenue streams. At the same time, they can support them in addressing numerous deficits in society. On the other hand, this contribution implies that an organizational culture that promotes open innovation approaches could expose practitioners to risks and uncertainties, like revealing sensitive information to outsiders, among others. In reality, it may prove difficult for the businesses to trust new partners, as they are not subject to their organizations' codes of conduct, rules, and regulations.

Suggested Citation

  • Mark Anthony Camilleri & Ciro Troise & Serena Strazzullo & Stefano Bresciani, 2023. "Creating shared value through open innovation approaches: Opportunities and challenges for corporate sustainability," Business Strategy and the Environment, Wiley Blackwell, vol. 32(7), pages 4485-4502, November.
    • Handle: RePEc:bla:bstrat:v:32:y:2023:i:7:p:4485-4502
    DOI: 10.1002/bse.3377
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/bse.3377
    Download Restriction: no
    File URL: https://libkey.io/10.1002/bse.3377?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. V. Kumar & Rajendra Srivastava, 2020. "New perspectives on business model innovations in emerging markets," Journal of the Academy of Marketing Science, Springer, vol. 48(5), pages 815-825, September.
    2. Ardalan Haghighi Talab & Victor Scholten & Cees van Beers, 2018. "Knowledge Sharing and Open Innovation," World Scientific Book Chapters, in: Susanne Durst & Serdal Temel & Helio Aisenberg Ferenhof (ed.), Open Innovation and Knowledge Management in Small and Medium Enterprises, chapter 7, pages 117-140, World Scientific Publishing Co. Pte. Ltd..
    3. Francesca Michelino & Antonello Cammarano & Andrea Celone & Mauro Caputo, 2019. "The Linkage between Sustainability and Innovation Performance in IT Hardware Sector," Sustainability, MDPI, vol. 11(16), pages 1-15, August.
    4. Johannes W. F. C. van Lieshout & Andre H. J. Nijhof & Gijs J. W. Naarding & Robert J. Blomme, 2021. "Connecting strategic orientation, innovation strategy, and corporate sustainability: A model for sustainable development through stakeholder engagement," Business Strategy and the Environment, Wiley Blackwell, vol. 30(8), pages 4068-4080, December.
    5. Qinghua Zhu & Fei Zou & Pan Zhang, 2019. "The role of innovation for performance improvement through corporate social responsibility practices among small and medium‐sized suppliers in China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(2), pages 341-350, March.
    6. Mark Anthony Camilleri, 2022. "Strategic attributions of corporate social responsibility and environmental management: The business case for doing well by doing good!," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(3), pages 409-422, June.
    7. Víctor Amor‐Esteban & Ma‐Purificación Galindo‐Villardón & Isabel‐María García‐Sánchez & Fátima David, 2019. "An extension of the industrial corporate social responsibility practices index: New information for stakeholder engagement under a multivariate approach," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(1), pages 127-140, January.
    8. Madanaguli, Arun & Dhir, Amandeep & Talwar, Shalini & Clauss, Thomas & Kraus, Sascha & Kaur, Puneet, 2023. "Diving into the uncertainties of open innovation: A systematic review of risks to uncover pertinent typologies and unexplored horizons," Technovation, Elsevier, vol. 119(C).
    9. Carroll, Archie B., 1991. "The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders," Business Horizons, Elsevier, vol. 34(4), pages 39-48.
    10. Rim Ben Hassen & Dorra Talbi, 2022. "Investigating The Effect Of Innovation Strategies On Firm’S Social And Financial Performance: Evidence From French Listed Firms," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 26(01), pages 1-20, January.
    11. Alberto Ferraris & Gabriele Santoro & Anna Claudia Pellicelli, 2020. "“Openness” of public governments in smart cities: removing the barriers for innovation and entrepreneurship," International Entrepreneurship and Management Journal, Springer, vol. 16(4), pages 1259-1280, December.
    12. O'Reilly, Charles A., III & Tushman, Michael L., 2013. "Organizational Ambidexterity: Past, Present and Future," Research Papers 2130, Stanford University, Graduate School of Business.
    13. Daniela Rupo & Mirko Perano & Giovanna Centorrino & Alfonso Vargas-Sanchez, 2018. "A Framework Based on Sustainability, Open Innovation, and Value Cocreation Paradigms—A Case in an Italian Maritime Cluster," Sustainability, MDPI, vol. 10(3), pages 1-28, March.
    14. Marc Schmidt-Keilich & Ulf Schrader, 2019. "Sustainability innovation by integrating employees: the potential of sustainable embedded lead users," International Journal of Innovation and Sustainable Development, Inderscience Enterprises Ltd, vol. 13(1), pages 98-115.
    15. Francesco Testa & Olivier Boiral & Iñaki Heras‐Saizarbitoria, 2018. "Improving CSR performance by hard and soft means: The role of organizational citizenship behaviours and the internalization of CSR standards," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 25(5), pages 853-865, September.
    16. Gomes, Leonardo Augusto de Vasconcelos & Facin, Ana Lucia Figueiredo & Salerno, Mario Sergio, 2021. "Managing uncertainty propagation in innovation ecosystems," Technological Forecasting and Social Change, Elsevier, vol. 171(C).
    17. David Daniel Peña‐Miranda & Antonio Guevara‐Plaza & José Antonio Fraiz‐Brea & Mark Anthony Camilleri, 2022. "Corporate social responsibility model for a competitive and resilient hospitality industry," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(3), pages 433-446, June.
    18. Birte Freudenreich & Florian Lüdeke-Freund & Stefan Schaltegger, 2020. "A Stakeholder Theory Perspective on Business Models: Value Creation for Sustainability," Journal of Business Ethics, Springer, vol. 166(1), pages 3-18, September.
    19. Telma Mendes & Vítor Braga & Aldina Correia & Carina Silva, 2021. "Linking corporate social responsibility, cooperation and innovation: the triple bottom line perspective," Innovation & Management Review, Emerald Group Publishing Limited, vol. 20(3), pages 244-280, October.
    20. Mark Anthony Camilleri, 2022. "The rationale for ISO 14001 certification: A systematic review and a cost–benefit analysis," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(4), pages 1067-1083, July.
    21. Leonidou, Erasmia & Christofi, Michael & Vrontis, Demetris & Thrassou, Alkis, 2020. "An integrative framework of stakeholder engagement for innovation management and entrepreneurship development," Journal of Business Research, Elsevier, vol. 119(C), pages 245-258.
    22. Hana Mohelska & Marcela Sokolova, 2017. "Innovative Culture of the Organization and Its Role in the Concept of Corporate Social Responsibility ? Czech Republic Case Study," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 19(46), pages 853-853, August.
    23. Shaikh, Ibrahim & Randhawa, Krithika, 2022. "Managing the risks and motivations of technology managers in open innovation: Bringing stakeholder-centric corporate governance into focus," Technovation, Elsevier, vol. 114(C).
    24. Peredo, Ana María & McLean, Murdith, 2006. "Social entrepreneurship: A critical review of the concept," Journal of World Business, Elsevier, vol. 41(1), pages 56-65, February.
    25. Bradley C. Boehmke & Benjamin T. Hazen, 2017. "The Future of Supply Chain Information Systems: The Open Source Ecosystem," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 18(2), pages 163-168, June.
    26. Guido Grunwald & Jürgen Schwill & Anne-Marie Sassenberg, 2021. "Sustainability project partnerships in times of crisis: conceptual framework and implications for stakeholder integration," Journal of Entrepreneurship and Public Policy, Emerald Group Publishing Limited, vol. 10(3), pages 352-378, June.
    27. Barbara Brenner, 2018. "Transformative Sustainable Business Models in the Light of the Digital Imperative—A Global Business Economics Perspective," Sustainability, MDPI, vol. 10(12), pages 1-25, November.
    28. Centobelli, Piera & Cerchione, Roberto & Esposito, Emilio, 2020. "Pursuing supply chain sustainable development goals through the adoption of green practices and enabling technologies: A cross-country analysis of LSPs," Technological Forecasting and Social Change, Elsevier, vol. 153(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Vlad George, 2024. "The Use of Innovation: A Source of Competitive Advantage for Companies: Bearing Point Case Study," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 18(1), pages 643-651.
    2. Hala Hmamed & Anass Cherrafi & Asmaa Benghabrit & Sunil Tiwari & Pankaj Sharma, 2024. "The adoption of I4.0 technologies for a sustainable and circular supply chain: an industry‐based SEM analysis from the textile sector," Business Strategy and the Environment, Wiley Blackwell, vol. 33(4), pages 2949-2968, May.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Asif Khan & Chih-Cheng Chen & Kwanrat Suanpong & Athapol Ruangkanjanases & Santhaya Kittikowit & Shih-Chih Chen, 2021. "The Impact of CSR on Sustainable Innovation Ambidexterity: The Mediating Role of Sustainable Supply Chain Management and Second-Order Social Capital," Sustainability, MDPI, vol. 13(21), pages 1-25, November.
    2. Ana León-Gómez & José Manuel Santos-Jaén & Daniel Ruiz-Palomo & Mercedes Palacios-Manzano, 2022. "Disentangling the impact of ICT adoption on SMEs performance: the mediating roles of corporate social responsibility and innovation," Oeconomia Copernicana, Institute of Economic Research, vol. 13(3), pages 831-866, September.
    3. Felipe Lillo-Viedma & Pedro Severino-González & Valentin Santander-Ramírez & Leidy Y. García & Nataly Guiñez-Cabrera & Nicolás Astorga-Bustos, 2022. "Corporate Social Responsibility and Social Network Analysis: Unionized Workers’ Perceptions," Sustainability, MDPI, vol. 14(7), pages 1-15, April.
    4. Beck, Donizete & Ferasso, Marcos, 2023. "How can Stakeholder Capitalism contribute to achieving the Sustainable Development Goals? A Cross-network Literature Analysis," Ecological Economics, Elsevier, vol. 204(PA).
    5. Yáñez-Valdés, Claudia & Guerrero, Maribel & Barros-Celume, Sebastián & Ibáñez, María J., 2023. "Winds of change due to global lockdowns: Refreshing digital social entrepreneurship research paradigm," Technological Forecasting and Social Change, Elsevier, vol. 190(C).
    6. Suzanne Campin & Jo Barraket & Belinda Luke, 2013. "micro-Business Community Responsibility in Australia: Approaches, Motivations and Barriers," Journal of Business Ethics, Springer, vol. 115(3), pages 489-513, July.
    7. Ciampi, Francesco & Faraoni, Monica & Ballerini, Jacopo & Meli, Francesco, 2022. "The co-evolutionary relationship between digitalization and organizational agility: Ongoing debates, theoretical developments and future research perspectives," Technological Forecasting and Social Change, Elsevier, vol. 176(C).
    8. Hannah Jun & Seoyoung Moon, 2021. "An Analysis of Sustainability Integration in Business School Curricula: Evidence from Korea," Sustainability, MDPI, vol. 13(5), pages 1-19, March.
    9. Keke Bai & Farid Ullah & Muhammad Arif & Sahar Erfanian & Saima Urooge, 2023. "Stakeholder-Centered Corporate Governance and Corporate Sustainable Development: Evidence from CSR Practices in the Top Companies by Market Capitalization at Shanghai Stock Exchange of China," Sustainability, MDPI, vol. 15(4), pages 1-25, February.
    10. Víctor Meseguer-Sánchez & Francisco Jesús Gálvez-Sánchez & Gabriel López-Martínez & Valentín Molina-Moreno, 2021. "Corporate Social Responsibility and Sustainability. A Bibliometric Analysis of Their Interrelations," Sustainability, MDPI, vol. 13(4), pages 1-18, February.
    11. Yunhui Zhao & Zhimin Wang & Taiwen Feng & Ting Kong & Qiansong Zhang, 2022. "Organizational unlearning and inclusive innovation: The moderating role of green control ambidexterity," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(4), pages 539-555, August.
    12. Xueting Jiang & Bogdan Prokopovych & Garett DiStefano, 2022. "Leveraging A Lenient Category in Practicing Responsible Leadership: A Case Study," Journal of Business Ethics, Springer, vol. 181(2), pages 413-425, November.
    13. Xiao Han & Jiayun Zhang, 2022. "Business Model Innovation Paths of Manufacturing Oriented towards Green Development in Digital Economy," IJERPH, MDPI, vol. 19(24), pages 1-34, December.
    14. Eva Velasco‐Balmaseda & Izaskun Larrieta‐Rubín de Celis & Nagore Embeita Izaguirre, 2024. "Corporate social responsibility as a framework for gender equality: Mapping of gender equality standards for sustainable development," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 1905-1920, May.
    15. Md. Abdul Kaium Masud & Md. Harun Ur Rashid & Tehmina Khan & Seong Mi Bae & Jong Dae Kim, 2019. "Organizational Strategy and Corporate Social Responsibility: The Mediating Effect of Triple Bottom Line," IJERPH, MDPI, vol. 16(22), pages 1-18, November.
    16. Stella Lippolis & Angelo Ruggieri & Rossella Leopizzi, 2023. "Open Innovation for sustainable transition: The case of Enel “Open Power”," Business Strategy and the Environment, Wiley Blackwell, vol. 32(7), pages 4202-4216, November.
    17. Choi, Hyoung-Yong & Park, Junyoung, 2022. "Do data-driven CSR initiatives improve CSR performance? The importance of big data analytics capability," Technological Forecasting and Social Change, Elsevier, vol. 182(C).
    18. Sarah Tiba & Frank J. van Rijnsoever & Marko P. Hekkert, 2019. "Firms with benefits: A systematic review of responsible entrepreneurship and corporate social responsibility literature," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(2), pages 265-284, March.
    19. Anna Chwiłkowska-Kubala & Szymon Cyfert & Kamila Malewska & Katarzyna Mierzejewska & Witold Szumowski, 2021. "The Relationships among Social, Environmental, Economic CSR Practices and Digitalization in Polish Energy Companies," Energies, MDPI, vol. 14(22), pages 1-20, November.
    20. Irene Marcuzzi & Matteo Podrecca & Marco Sartor & Guido Nassimbeni, 2023. "Out of social accountability: Reasons and alternative paths for SA8000 decertification," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(6), pages 3140-3158, November.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:bstrat:v:32:y:2023:i:7:p:4485-4502. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1099-0836 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.