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Cited by 40Sustainability and Innovation in BusinessSustainable Supply Chain ManagementEnvironmental Sustainability in Business

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Theoretical framework of sustainable value creation by companies. What do we know so far?

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Zioło, Magdalena, Bąk, Iwona, Spoz, Anna·2023·Corporate Social Responsibility and Environmental Management
DOI 10.1002/csr.2489
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Abstract

In conditions of limited natural resources, growing social awareness, and ESG risk, sustainability and the pressure to be sustainable are gaining importance. Legislative requirements, good practices and recommendations as well as the stakeholders themselves expect from market participants, especially from the enterprise sector, that they will incorporate sustainability in their activities. Enterprises undertake adaptation activities towards sustainability by creating sustainable value based on their business models. The article aims to systematize the state of knowledge on how companies create sustainable value. Research results in this area are dispersed, and more studies discussing this topic comprehensively are needed. The article fills the gap in research by reviewing the existing studies on creating sustainable value. The analysis of publications was based on the academic databases of Elsevier Scopus and Web‐of‐Science. 101 publications were reviewed, and 31 categorization variables related to the area of research and issues addressed in scientific publications were created. Using a multidimensional correspondence analysis, three homogeneous clusters of publications were obtained: group I refers to articles concerning enterprises of various sizes (micro, small, SME, and start‐up); group II includes publications on Asia and Australia, which appeared in 2020 or later; group III concerns articles related to the research of large production companies in developed European countries. The result shows that companies build sustainable value in various ways, influenced by company's location and size. Among the dominant patterns of incorporating sustainable value, the following are indicated: building a sustainable supply chain, innovations, building relationships with stakeholders and consumers, sharing economy.

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Image 2
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FIGURE 1 Stakeholder groups and value created for these groups. Source : Own elaboration based on: Lüdeke-Freund et al. (2020).
FIGURE 1 Stakeholder groups and value created for these groups. Source : Own elaboration based on: Lüdeke-Freund et al. (2020).CC-BY · From the PDF
Image 4
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Image 5
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FIGURE 2 Numbers of found publications by type. Source : Own elaboration. [Colour figure can be viewed at wileyonlinelibrary.com]
FIGURE 2 Numbers of found publications by type. Source : Own elaboration. [Colour figure can be viewed at wileyonlinelibrary.com]CC-BY · From the PDF
FIGURE 3 Selected characteristics of the research sample. Source : Own elaboration. [Colour figure can be viewed at wileyonlinelibrary.com]
FIGURE 3 Selected characteristics of the research sample. Source : Own elaboration. [Colour figure can be viewed at wileyonlinelibrary.com]CC-BY · From the PDF
Image 8
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Image 9
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FIGURE 5 Hierarchical classification of variable categories performed with the use of Ward's method. Source : Own elaboration. [Colour figure can be viewed at wileyonlinelibrary.com]
FIGURE 5 Hierarchical classification of variable categories performed with the use of Ward's method. Source : Own elaboration. [Colour figure can be viewed at wileyonlinelibrary.com]CC-BY · From the PDF
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Image 12
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Metadata

Authors
Zioło, M., Bąk, I., & Spoz, A.
Affiliations
  • University of Szczecin (PL)
  • West Pomeranian University of Technology in Szczecin (PL)
  • John Paul II Catholic University of Lublin (PL)
Corresponding author
Spoz, Anna
ORCID
Venue
Corporate Social Responsibility and Environmental Management
Publisher
Wiley
Published
2023-03-30
Volume
30
Issue
5
Pages
2344-2361
ISSN
  • 1535-3958 (ISSN-L)
  • 1535-3966
DOI
10.1002/csr.2489
OpenAlex
W4362518696
Cited by
40
References
4
Citations by year
2026: 9 · 2025: 14 · 2024: 15 · 2023: 2
FWCI
9.77
Type
journal article
Language
en
Open access
Licence
Locations
Corporate Social Responsibility and Environmental Management (publishedVersion, cc-by)
Topics
  • Social Sciences › Business, Management and Accounting › Management of Technology and Innovation › Sustainability and Innovation in Business
  • Social Sciences › Business, Management and Accounting › Strategy and Management › Sustainable Supply Chain Management
  • Social Sciences › Business, Management and Accounting › Marketing › Environmental Sustainability in Business
Keywords
sustainable value creation, corporate sustainability, business models, supply chain sustainability, stakeholder relations, consumer relations, sharing economy, innovation, firm size, firm location, ESG risk, small and medium-sized enterprises

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