The role of service firms in societal health: the case for symbiotic value

Abstract

PurposeThe purpose of this study is to highlight the role that service firms can play to improve societal health and create symbiotic value, defined as value created as a result of collaborative relationships between the firm, its employees, customers and the communities in which it operates.Design/methodology/approachThis manuscript examines the case of Millennials as they make up a dominant portion of the current workforce in society and proposes a conceptual framework for symbiotic value creation.FindingsThis study identifies the need to develop supporting mechanisms for the growing role of Millennials as employees and members of society that ultimately, in turn, create symbiotic value.Originality/valueThe paper proposes an integrative framework beyond the traditional and siloed examination of linkages between employee, customer, firm and society, creating new opportunities for extending a service theory and practice.