Theories of Value for Sustainable Business Models

Tuesday November 26 

Dr Cristina Neesham, Newcastle University

Theories of Value for Sustainable Business Models

Theories of sustainable business models (SBMs) use "value" as a core concept, without defining it. While traditional business models literature relies on concepts of value derived from economic theories, thus limiting their scope to economic value, this theoretical foundation is insufficient for SBMs. The latter have been distinguished from traditional business models in two respects: 1) SBMs are designed to create multiple types of value, beyond economic, e.g. social environmental, human, cultural, etc. (open list); 2) Value created by SBMs is directed to multiple and diverse stakeholders of the firm, not only shareholders and customers (e.g. employees, suppliers, local communities, government/the state, the media, interest groups, the natural environment, future generations). This expansion of the concepts of 'business model' and 'value' calls for new theories of value to support theories of SBM. This study evaluates critically the potential of philosophical phenomenology (Merleau-Ponty) and philosophical anthropology (Graeber) for providing an adequate foundation for defining value and explaining value creation in SBMs.

About the presenter:

Dr Cristina Neesham is a Professor of Business Ethics & Sustainability and Associate Dean Ethics, Responsibility and Sustainability (ERS) at Newcastle University Business School (UK). She has a PhD from the University of Melbourne (Australia) and has served in multiple leadership roles in the Academy of Management. Cristina’s research has been published in Business Ethics Quarterly, Accounting Auditing & Accountability Journal, Business & Society, Journal of Business Ethics, Organization Theory, International Journal of Human Resource Management, and International Journal of Project Management, among others. Her work focuses on theories of value in sustainable business models, and on applying digital technology ethics and responsible innovation to address global sustainability problems. Her teaching and curriculum development promotes education for sustainability principles. Cristina is co-Editor-in-Chief of the Springer Handbook of Philosophy of Management and the Philosophy of Management Journal, and Associate Editor of Business Ethics, Environment & Responsibility.