Framework for sustainable value creation: a synthesis of fragmented sustainable business model literature

Abstract

Purpose This study aims to synthesize the body of sustainable value creation (SVC) research within sustainable business model literature through a systematic literature review. Design/methodology/approach A systematic literature review of 85 research articles of SVC through business models from 2011 to 2020. Findings The systematic literature review allowed the authors to identify five core SVC elements: value forms, stakeholders, temporal view, spatial view and tensions and conflicts. Moreover, a conceptual framework presenting the interrelationships of the SVC elements is proposed. Practical implications This study carries implications for practitioners in the form of guiding questions provided in the framework. Those questions help responsible managers to plan, identify and choose strategic sustainability actions and to develop companies’ business models aiming to lead to the creation of long-term sustainable value in different time frames and locations or different parts of the value network. Additionally, the framework guides managers to identify and manage potential tensions and conflicts which can otherwise hinder SVC. Originality/value To the best of the authors’ knowledge, this study is the first systematic literature review of SVC through business models with the conceptual development of SVC. The study synthesizes the fragmented literature to identify SVC elements and build basis for conceptualization of SVC through business models.