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Creating Shared Value in the Hybrid Venture Arena: A Business Model Innovation Perspective

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  • Juan Florin
  • Elizabeth Schmidt

Abstract

In this paper we develop a strategy process model for hybrid ventures centered on business model innovation for shared value creation. We then validate the framework with an empirical focus on L3Cs, a new breed of hybrid ventures that occupy the middle ground between nonprofits and for-profits. With this research we contribute to business model innovation research, we extend established theoretical perspectives to the social entrepreneurship domain, and contribute to the understanding and diffusion of best practices when the strategic intent is the simultaneous creation of public and private wealth.

Suggested Citation

  • Juan Florin & Elizabeth Schmidt, 2011. "Creating Shared Value in the Hybrid Venture Arena: A Business Model Innovation Perspective," Journal of Social Entrepreneurship, Taylor & Francis Journals, vol. 2(2), pages 165-197, October.
    • Handle: RePEc:taf:jsocen:v:2:y:2011:i:2:p:165-197
    DOI: 10.1080/19420676.2011.614631
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    Cited by:

    1. Devine, Anthony & Jabbar, Abdul & Kimmitt, Jonathan & Apostolidis, Chrysostomos, 2021. "Conceptualising a social business blockchain: The coexistence of social and economic logics," Technological Forecasting and Social Change, Elsevier, vol. 172(C).
    2. Tykkyläinen, Saila & Ritala, Paavo, 2021. "Business model innovation in social enterprises: An activity system perspective," Journal of Business Research, Elsevier, vol. 125(C), pages 684-697.
    3. Hodjat Shakiba & Sohrab Delangizan & Yosef Mohamadifar, 2022. "Inclusive urban entrepreneurial ecosystem policies: An application of the meta‐synthesis approach," Poverty & Public Policy, John Wiley & Sons, vol. 14(4), pages 342-380, December.
    4. Best, Bernadette & Miller, Kristel & McAdam, Rodney & Moffett, Sandra, 2021. "Mission or margin? Using dynamic capabilities to manage tensions in social purpose organisations’ business model innovation," Journal of Business Research, Elsevier, vol. 125(C), pages 643-657.
    5. Judith Cavazos-Arroyo & Rogelio Puente-Diaz, 2019. "The Influence of Marketing Capability in Mexican Social Enterprises," Sustainability, MDPI, vol. 11(17), pages 1-15, August.
    6. Froese, Tobias & Richter, Markus & Hofmann, Florian & Lüdeke-Freund, Florian, 2023. "Degrowth-oriented organisational value creation: A systematic literature review of case studies," Ecological Economics, Elsevier, vol. 207(C).
    7. Christian Felber & Vanessa Campos & Joan R. Sanchis, 2019. "The Common Good Balance Sheet, an Adequate Tool to Capture Non-Financials?," Sustainability, MDPI, vol. 11(14), pages 1-23, July.
    8. Krzysztof Dembek & Prakash Singh & Vikram Bhakoo, 2016. "Literature Review of Shared Value: A Theoretical Concept or a Management Buzzword?," Journal of Business Ethics, Springer, vol. 137(2), pages 231-267, August.
    9. Cucari Nicola & Esposito Eduardo & D’Angelo Eugenio & Ciasullo Maria Vincenza, 2020. "Assessing the Social Entrepreneurship Business Model: An Exploratory Case Study in the Italian Cultural Heritage Sector," Entrepreneurship Research Journal, De Gruyter, vol. 10(4), pages 1-31, October.
    10. Chen, Suwen & Harrison, Richard, 2020. "Beyond profit vs. purpose: Transactional-relational practices in impact investing," Journal of Business Venturing Insights, Elsevier, vol. 14(C).
    11. Mercedes Rubio-Andrés & Mª Ramos-González & Miguel Ángel Sastre-Castillo, 2022. "Driving innovation management to create shared value and sustainable growth," Review of Managerial Science, Springer, vol. 16(7), pages 2181-2211, October.
    12. Pablo Muñoz & Boyd Cohen, 2018. "Sustainable Entrepreneurship Research: Taking Stock and looking ahead," Business Strategy and the Environment, Wiley Blackwell, vol. 27(3), pages 300-322, March.
    13. Ronald Vatananan-Thesenvitz & Amaury-Alexandre Schaller & Randall Shannon, 2019. "A Bibliometric Review of the Knowledge Base for Innovation in Sustainable Development," Sustainability, MDPI, vol. 11(20), pages 1-22, October.
    14. Fortezza, Fulvio & Figueiredo, Bernardo & Scaraboto, Daiane & Del Chiappa, Giacomo, 2022. "Managing multiple logics to facilitate consumer transformation," Journal of Business Research, Elsevier, vol. 144(C), pages 377-390.
    15. Weerawardena, Jay & Salunke, Sandeep & Haigh, Nardia & Sullivan Mort, Gillian, 2021. "Business model innovation in social purpose organizations: Conceptualizing dual social-economic value creation," Journal of Business Research, Elsevier, vol. 125(C), pages 762-771.
    16. Marta Rocchi & Ignacio Ferrero, 2014. "Systematic Shared Value in Finance: Expanding Porter's Approach," Faculty Working Papers 07/14, School of Economics and Business Administration, University of Navarra.
    17. Altinay, Levent & Sigala, Marianna & Waligo, Victoria, 2016. "Social value creation through tourism enterprise," Tourism Management, Elsevier, vol. 54(C), pages 404-417.
    18. Alexandra Graddy-Reed, 2021. "Decisions of firm risk and the role of organizational identity," Small Business Economics, Springer, vol. 57(1), pages 1-21, June.
    19. Brandstetter Lisa & Lehner Othmar M., 2015. "Opening the Market for Impact Investments: The Need for Adapted Portfolio Tools," Entrepreneurship Research Journal, De Gruyter, vol. 5(2), pages 87-107, April.
    20. Axel Haller & Chris J. van Staden & Cristina Landis, 2018. "Value Added as part of Sustainability Reporting: Reporting on Distributional Fairness or Obfuscation?," Journal of Business Ethics, Springer, vol. 152(3), pages 763-781, October.
    21. Su‐Jung Nam & Hyesun Hwang, 2019. "What makes consumers respond to creating shared value strategy? Considering consumers as stakeholders in sustainable development," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(2), pages 388-395, March.
    22. Erin Chmelik & Martina Musteen & Mujtaba Ahsan, 2016. "Measures of Performance in the Context of International Social Ventures: An Exploratory Study," Journal of Social Entrepreneurship, Taylor & Francis Journals, vol. 7(1), pages 74-100, March.
    23. Donaldson, Colin & Mateu, Guillermo, 2021. "New venture creation: a systematic review of associated literature," TEC Empresarial, School of Business, Costa Rica Institute of Technology (ITCR), vol. 15(1), pages 56-79.

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