Broadening the business model construct: Exploring how family-owned SMEs co-create value with external stakeholders

Jordan Robert Gamble, Eric Clinton and Vanessa Díaz-Moriana

Journal of Business Research, 2021, vol. 130, issue C, 646-657

Abstract: This paper explores how family-owned SMEs and their external stakeholders co-create value for end consumers. Our empirical data consists of 22 semi-structured interviews with the senior management of family-owned SMEs, supplemented by 1107 items of archival data. The findings shed light on precisely how contemporary family business practitioners can expand their business model (through external orientation and stakeholder collaborations). In doing so, we enrich SME literature by offering new empirical research findings from the unique perspective of how family-owned SMEs collaborate with specific stakeholder groups. We also expand the current business model literature by providing a more nuanced understanding of the SME business model construct, and advance service-dominant logic theory through the presentation of our theoretical model and propositions. Ultimately, this paper extends insights into value co-creation with stakeholders as an extension of the business model construct, whilst highlighting practical implications for family-owned SME practitioners.

Keywords: SME; Value co-creation; Business model; Family firm; Stakeholder; Service-dominant logic (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0148296320302058
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:130:y:2021:i:c:p:646-657

DOI: 10.1016/j.jbusres.2020.03.034

Access Statistics for this article

Journal of Business Research is currently edited by A. G. Woodside

More articles in Journal of Business Research from Elsevier
Bibliographic data for series maintained by Catherine Liu ().