IDEAS home Printed from https://ideas.repec.org/a/bla/bstrat/v33y2024i4p3687-3706.html
   My bibliography  Save this article

Stakeholder integration in sustainable business models to enhance value delivery for a broader range of stakeholders

Author

Listed:
  • Kabelo Esther Rathobei
  • Helena Ranängen
  • Åsa Lindman

Abstract

Sustainable business models (SBMs) represent a contemporary approach seeking to deliver value to businesses and a wide range of stakeholders. This paper addresses the existing gap in practical guidance for businesses aiming to incorporate a wider range of stakeholders into their SBMs. To address the gap, a systematic review of academic literature and a review of mining company reports were conducted. The findings demonstrate that it is imperative to integrate stakeholders to achieve sustainability objectives, gain societal acceptance and foster legitimacy while maintaining alignment with stakeholders' concerns. To this end, the theoretical implication of this study lies in introducing a stakeholder integration model (SIM) that underscores the roles of identification, communication, knowledge sharing and continual improvement in achieving sustainability objectives and societal acceptance within SBMs. Practically, it addresses a gap by providing practical guidance for businesses to integrate stakeholders to manage risk, uncover value‐creation opportunities and gain social acceptance.

Suggested Citation

  • Kabelo Esther Rathobei & Helena Ranängen & Åsa Lindman, 2024. "Stakeholder integration in sustainable business models to enhance value delivery for a broader range of stakeholders," Business Strategy and the Environment, Wiley Blackwell, vol. 33(4), pages 3687-3706, May.
    • Handle: RePEc:bla:bstrat:v:33:y:2024:i:4:p:3687-3706
    DOI: 10.1002/bse.3651
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/bse.3651
    Download Restriction: no
    File URL: https://libkey.io/10.1002/bse.3651?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. Steve Evans & Doroteya Vladimirova & Maria Holgado & Kirsten Van Fossen & Miying Yang & Elisabete A. Silva & Claire Y. Barlow, 2017. "Business Model Innovation for Sustainability: Towards a Unified Perspective for Creation of Sustainable Business Models," Business Strategy and the Environment, Wiley Blackwell, vol. 26(5), pages 597-608, July.
    2. Vivek Kumar Singh & Prashasti Singh & Mousumi Karmakar & Jacqueline Leta & Philipp Mayr, 2021. "The journal coverage of Web of Science, Scopus and Dimensions: A comparative analysis," Scientometrics, Springer;Akadémiai Kiadó, vol. 126(6), pages 5113-5142, June.
    3. Hans-Gerd Ridder, 2017. "The theory contribution of case study research designs," Business Research, Springer;German Academic Association for Business Research, vol. 10(2), pages 281-305, October.
    4. Grijalvo, Mercedes & García-Wang, Carmen, 2023. "Sustainable business model for climate finance. Key drivers for the commercial banking sector," Journal of Business Research, Elsevier, vol. 155(PB).
    5. Simon Norris & Julia Hagenbeck & Stefan Schaltegger, 2021. "Linking sustainable business models and supply chains — Toward an integrated value creation framework," Business Strategy and the Environment, Wiley Blackwell, vol. 30(8), pages 3960-3974, December.
    6. Giovanna Attanasio & Nadia Preghenella & Alberto Felice De Toni & Cinzia Battistella, 2022. "Stakeholder engagement in business models for sustainability: The stakeholder value flow model for sustainable development," Business Strategy and the Environment, Wiley Blackwell, vol. 31(3), pages 860-874, March.
    7. Vincenzo Basile & Nunzia Capobianco & Roberto Vona, 2021. "The usefulness of sustainable business models: Analysis from oil and gas industry," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(6), pages 1801-1821, November.
    8. Henning Breuer & Klaus Fichter & Florian Lüdeke-Freund & Irina Tiemann, 2018. "Sustainability-oriented business model development: principles, criteria and tools," International Journal of Entrepreneurial Venturing, Inderscience Enterprises Ltd, vol. 10(2), pages 256-286.
    9. Johanna Kujala & Anna Heikkinen & Hanna Lehtimäki, 2012. "Understanding the Nature of Stakeholder Relationships: An Empirical Examination of a Conflict Situation," Journal of Business Ethics, Springer, vol. 109(1), pages 53-65, August.
    10. Juliana Kurek & Luciana Londero Brandli & Marcos Antonio Leite Frandoloso & Amanda Lange Salvia & Janaina Mazutti, 2023. "Sustainable Business Models Innovation and Design Thinking: A Bibliometric Analysis and Systematic Review of Literature," Sustainability, MDPI, vol. 15(2), pages 1-22, January.
    11. Junwen Zhu & Weishu Liu, 2020. "A tale of two databases: the use of Web of Science and Scopus in academic papers," Scientometrics, Springer;Akadémiai Kiadó, vol. 123(1), pages 321-335, April.
    12. Valentina Cillo & Antonio Messeni Petruzzelli & Lorenzo Ardito & Manlio Del Giudice, 2019. "Understanding sustainable innovation: A systematic literature review," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(5), pages 1012-1025, September.
    Full references (including those not matched with items on IDEAS)

    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. Nadia Preghenella & Cinzia Battistella, 2021. "Exploring business models for sustainability: A bibliographic investigation of the literature and future research directions," Business Strategy and the Environment, Wiley Blackwell, vol. 30(5), pages 2505-2522, July.
    2. Anna M. Hansson & Eja Pedersen & Niklas P. E. Karlsson & Stefan E. B. Weisner, 2023. "Barriers and drivers for sustainable business model innovation based on a radical farmland change scenario," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(8), pages 8083-8106, August.
    3. Zhentao Liang & Jin Mao & Kun Lu & Gang Li, 2021. "Finding citations for PubMed: a large-scale comparison between five freely available bibliographic data sources," Scientometrics, Springer;Akadémiai Kiadó, vol. 126(12), pages 9519-9542, December.
    4. Sylwia Lorenc & Tomasz Leśniak & Arkadiusz Kustra & Maria Sierpińska, 2023. "Evolution of Business Models of Mining and Energy Sector Companies according to Current Market Trends," Energies, MDPI, vol. 16(13), pages 1-21, July.
    5. Nancy Bocken & Lars Strupeit & Katherine Whalen & Julia Nußholz, 2019. "A Review and Evaluation of Circular Business Model Innovation Tools," Sustainability, MDPI, vol. 11(8), pages 1-25, April.
    6. Haochen Qian & Fan Zhang & Bing Qiu, 2023. "Deciphering the Evolution, Frontier, and Knowledge Clustering in Sustainable City Planning: A 60-Year Interdisciplinary Review," Sustainability, MDPI, vol. 15(24), pages 1-27, December.
    7. Alberto Peralta & Javier Carrillo‐Hermosilla & Fernando Crecente, 2019. "Sustainable business model innovation and acceptance of its practices among Spanish entrepreneurs," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(5), pages 1119-1134, September.
    8. Raf Vanderstraeten & Frédéric Vandermoere, 2021. "Inequalities in the growth of Web of Science," Scientometrics, Springer;Akadémiai Kiadó, vol. 126(10), pages 8635-8651, October.
    9. Winston Jerónimo Silvestre & Ana Fonseca & Sandra Naomi Morioka, 2022. "Strategic sustainability integration: Merging management tools to support business model decisions," Business Strategy and the Environment, Wiley Blackwell, vol. 31(5), pages 2052-2067, July.
    10. Henner Gimpel & Valerie Graf-Drasch & Alexander Kammerer & Maximilian Keller & Xinyi Zheng, 2020. "When does it pay off to integrate sustainability in the business model? – A game-theoretic analysis," Electronic Markets, Springer;IIM University of St. Gallen, vol. 30(4), pages 699-716, December.
    11. Federico Cosenz & Vinicius Picanço Rodrigues & Francesco Rosati, 2020. "Dynamic business modeling for sustainability: Exploring a system dynamics perspective to develop sustainable business models," Business Strategy and the Environment, Wiley Blackwell, vol. 29(2), pages 651-664, February.
    12. Guandalini, Ilaria, 2022. "Sustainability through digital transformation: A systematic literature review for research guidance," Journal of Business Research, Elsevier, vol. 148(C), pages 456-471.
    13. Huirong Xie & Teck Chai Lau, 2023. "Evidence-Based Green Human Resource Management: A Systematic Literature Review," Sustainability, MDPI, vol. 15(14), pages 1-23, July.
    14. Giovanna Attanasio & Nadia Preghenella & Alberto Felice De Toni & Cinzia Battistella, 2022. "Stakeholder engagement in business models for sustainability: The stakeholder value flow model for sustainable development," Business Strategy and the Environment, Wiley Blackwell, vol. 31(3), pages 860-874, March.
    15. Allal-Chérif, Oihab & Costa Climent, Juan & Ulrich Berenguer, Klaus Jurgen, 2023. "Born to be sustainable: How to combine strategic disruption, open innovation, and process digitization to create a sustainable business," Journal of Business Research, Elsevier, vol. 154(C).
    16. Yin Junjia & Aidi Hizami Alias & Nuzul Azam Haron & Nabilah Abu Bakar, 2023. "A Bibliometric Review on Safety Risk Assessment of Construction Based on CiteSpace Software and WoS Database," Sustainability, MDPI, vol. 15(15), pages 1-24, August.
    17. Florian Lüdeke‐Freund, 2020. "Sustainable entrepreneurship, innovation, and business models: Integrative framework and propositions for future research," Business Strategy and the Environment, Wiley Blackwell, vol. 29(2), pages 665-681, February.
    18. Olufemi, O. Omotilewa & Osifalujo, B. Bunmi and Ogunwede & J. Kayode, 2023. "Stakeholders Conflicting Interest and Approach for Harmonization for Business Sustainability: Evidence from Limited Liability Companies in Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(9), pages 21-33, September.
    19. Fabien Martinez, 2022. "Organizational change in response to environmental complexity: Insights from the business model innovation literature," Business Strategy and the Environment, Wiley Blackwell, vol. 31(5), pages 2299-2314, July.
    20. Carolina López-Nicolás & Jesús Ruiz-Nicolás & Enrique Mateo-Ortuño, 2021. "Towards Sustainable Innovative Business Models," Sustainability, MDPI, vol. 13(11), pages 1-19, May.

    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:33:y:2024:i:4:p:3687-3706. 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.