Co‐Creation of Societal Benefits Through Human‐Centered Design and Management of Dynamic Capabilities in Oyster Farm Communities

Abstract

ABSTRACTThis paper explores how business reconciles the perceived conflicting demands of social and profit logic to deliver value to shareholders and the wider community it serves. Through a human‐centered design lens, the paper identifies co‐creation as pivotal in the design of the business model that delivers social and economic value. Empirical data from an aquaculture SME case study was collected and analyzed to comprehend the role of social good in the development of the business model. The results demonstrate that societal improvements can be achieved when concurrently considered and designed into each stage of the business model development. The findings reveal that technology when deployed within the context of economic and societal improvements has the potential to support businesses in organizing services that deliver economic, societal, and environmental benefits. Replicating this approach requires organizations to develop a deep understanding of the social context that their customers operate within.