Abstract
Pressures on business to operate sustainably are increasing. This requires companies to adopt a systemic approach that seeks to integrate consideration of the three dimensions of sustainability – social, environmental, and economic – in a manner that generates shared value creation for all stakeholders including the environment and society. This is referred to as sustainable business thinking. The business model concept offers a framework for system-level innovation for sustainability and provides the conceptual linkage with the activities of the firm such as design, production, supply chains, partnerships, and distribution channels. A value mapping tool has been presented in the literature to assist in sustainable business model innovation. This study explores the use of value mapping for broader sustainable business thinking, by reflection on its use in workshop settings. A range of new applications is identified which is expected to be of interest to business practitioners, policy makers, and academic researchers.
Highlights
System-level challenges for sustainability such as climate change, resource use, and inequality are increasing the pressure on businesses to address sustainability through significant changes in their everyday business operations and behavior
The research question this study addresses is How might value mapping as a tool and process be used for sustainable business thinking
Sustainable business model innovation represents a subset of sustainable business thinking, which, building on Boons and Lüdeke-Freund [8], is described as innovation to the way business is done by creating a competitive advantage through superior customer value while contributing positively to the company, society, and environment while minimizing harm
Summary
The framework of a “business model” might provide a structured way for sustainable business thinking by mapping the purpose, opportunities for value creation across the network, and value capture (how to generate revenue) in companies. For sustainable business model innovation, a wider range of stakeholders, including environment and society, and value creation, needs to be considered [6]. This research investigates how the value mapping tool might be used more broadly to facilitate “sustainable business thinking” – an approach to integrate social, environmental, and economic sustainability into business thinking and operation, in a manner that generates shared value creation for all stakeholders. The research question this study addresses is How might value mapping as a tool and process be used for sustainable business thinking
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