Abstract
The platform business model has attracted significant attention in business research and practice. However, much of the existing literature studies commercial platforms that seek to maximize profit. In contrast, we focus on a platform for volunteers that aims to maximize social impact. This business model is called a platform for the common good. The article proposes a Causal Loop Diagram (CLD) model that explains how a platform for the common good creates value. Our model maps the key strategic feedback loops that constitute the core structure of the platform and explains its growth and performance through time. We show that multiple types of network effects create interlocking, reinforcing feedback loops. Overall, the article contributes towards a dynamic theory of the platforms for the common good. Moreover, the article provides insights for social entrepreneurs who seek to build, understand, and optimize platforms that maximize social value and managers of companies that seek to participate in such platforms. Social entrepreneurs should seek to leverage the critical feedback loops of their platform.
Highlights
The platform business model has attracted significant attention in business research and practice
We discuss the platform for the common good and its stakeholders
Our model shows that the mechanism through which a platform for volunteers creates value is through reinforcing feedback loops that drive stakeholder participation and interaction
Summary
The platform business model has attracted significant attention in business research and practice. This article explores the dynamic complexity of platforms for non-commercial services that seek to maximize social value. We call such a social impact platform a platform for the common good. Platforms for the common good, which constitute the fastestgrowing social business category [5], make it possible for multiple stakeholders to come together and interact to maximize social value creation. Good “Social innovation innovationrefers referstotoinnovative innovative activities and services motivated by “Social activities and services thatthat are are motivated by the the goal of meeting a social need”. Because social innovation is a challenging reality changes, adapting the ideathe [18]
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