We are currently in a transition moving from a linear economy grounded on economic value maximization based on material transformation to a circular economy. Core of this transition is organising value preservation from various yet interlinked perspectives. The underlying fundamental shift is to move away from mere financial value maximization towards multiple value creation (WCED, 1987; Jonker, 2014; Raworth, 2017). This implies moving from mere economic value creation, to simultaneously and in a balanced way creating ecological and social value. A parallel development supporting this transition can be observed in accounting & control. Elkington (1994) introduced the triple bottom line (TBL) concept, referring to the economic, ecological and social impact of companies. The TBL should be seen more as a conceptual way of thinking, rather than a practical innovative accounting tool to monitor and control sustainable value (Rambaud & Richard, 2015). However, it has inspired accounting & control practitioners to develop accounting tools that not only aim at economic value (‘single capital’ accounting) but also at multiple forms of capital (‘multi capital’ accounting or integrated reporting). This has led to a variety of integrated reporting platforms such as Global Reporting Initiative (GRI), International Integrated Reporting Framework (IIRC), Dow Jones Sustainable Indexes (DJSI), True Costing, Reporting 3.0, etc. These integrated reporting platforms and corresponding accounting concepts, can be seen as a fundament for management control systems focussing on multiple value creation. This leads to the following research question: How are management control systems designed in practice to drive multiple value creation?
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Purpose: The purpose of this study is to find determinants about risk resilience and develop a new risk resilience approach for (agricultural) enterprises. This approach creates the ability to respond resiliently to major environmental challenges and changes in the short term and adjust the management of the organization, and to learn and transform to adapt to the new environment in the long term while creating multiple value creation. Design/methodology: The authors present a new risk resilience approach for multiple value creation of (agricultural) enterprises, which consists of a main process starting with strategy design, followed by an environmental analysis, stakeholder collaboration, implement ESG goals, defining risk expose & response options, and report, learn & evaluate. In each step the organizational perspective, as well as the value chain/area perspective is considered and aligned. The authors have used focus groups and analysed literature from and outside the field of finance and accounting, to design this new approach. Findings: Researchers propose a new risk resilience approach for (agricultural) enterprises, based on a narrative about transforming to multiple value creation, founded determinants of risk resilience, competitive advantage and agricultural resilience. Originality and value: This study contributes by conceptualizing risk resilience for (agricultural) enterprises, by looking through a lens of multiple value creation in a dynamic context and based on insights from different fields, actual ESG knowledge, and determinants for risk resilience, competitive advantage and agricultural resilience.
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Our study elucidates collaborative value creation and private value capture in collaborative networks in a context of sustainability. Collaborative networks that focus on innovative solutions for grand societal challenges are characterized by a multiplicity and diversity of actors that increase the complexity and coordination costs of collective action. These types of inter-organizational arrangements have underlying tensions as partners cooperate to create collaborative value and compete to capture or appropriate value on a private or organizational level, resulting in potential and actual value flows that are highly diffuse and uncertain among actors. We also observe that network participants capture value differentially, often citing the pro-social (e.g. community, belonging, importance) and extrinsic benefits of learning and reputation as valuable, but found it difficult to appropriate economic or social benefits from that value. Differential and asymmetric value appropriation among participants threatens continued network engagement and the potential collective value creation of collaborative networks. Our data indicates that networked value creation and capture requires maintaining resource complementarity and interdependency among network participants as the network evolves. We develop a framework to assess the relational value of collaborative networks and contribute to literature by unpacking the complexities of networked value creation and private value capture in collaborative networks for sustainability.
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Purpose: The purpose of this study is to find determinants about risk resilience and develop a new risk resilience approach for (agricultural) enterprises. This approach creates the ability to respond resiliently to major environmental challenges and changes in the short term and adjust the management of the organization, and to learn and transform to adapt to the new environment in the long term while creating multiple value creation. Design/methodology: The authors present a new risk resilience approach for multiple value creation of (agricultural) enterprises, which consists of a main process starting with strategy design, followed by an environmental analysis, stakeholder collaboration, implement ESG goals, defining risk expose & response options, and report, learn & evaluate. In each step the organizational perspective, as well as the value chain/area perspective is considered and aligned. The authors have used focus groups and analysed literature from and outside the field of finance and accounting, to design this new approach. Findings: Researchers propose a new risk resilience approach for (agricultural) enterprises, based on a narrative about transforming to multiple value creation, founded determinants of risk resilience, competitive advantage and agricultural resilience. Originality and value: This study contributes by conceptualizing risk resilience for (agricultural) enterprises, by looking through a lens of multiple value creation in a dynamic context and based on insights from different fields, actual ESG knowledge, and determinants for risk resilience, competitive advantage and agricultural resilience.
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Coopetition (simultaneous competition and collaboration between firms) is an important driver for innovation, as competing organizations benefit from pooling resources and ideas for new products, processes and achieving benefits such as collective reputation. However, a key issue facing such relationships is the notion of value creation and capture–how does value get created and distributed amongst competing partners. This issue becomes increasingly salient when the coopetition includes multiple actors and common pool resources such as land and water. In this symposium, we bring together scholars who are investigating coopetition between different actors such as direct competitors, actors from the same industry, and organizations sharing similar collective goals such as sustainable manufacturing. In showcasing this diversity of context we shed light on the notion of value creation and capture in coopetitive relationships.
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accepted abstract Quis14 conference Field findings show that value dimensions in legal services are functional, social and emotional. The last category emerges not only within but also outside the interaction with the lawyer. Recommendation of others or the trackrecord of lawyers for example, which play a role before or after the service, contribute to emotional values like trust and reassurance and help clients to reduce the perceived purchase risk, which is inherent to the nature of credence services. Also due to the credential character of legal services we conclude that not only professional skills but also service aspects as client involvement play an important role in the emergence of value because professional skills are difficult to judge even by routine buyers.
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The shift towards a more sustainable circular economy will require innovations. While SMEs can contribute to this development, financing innovations within SMEs is difficult. Various authors have not ed moreover that the concept of the circular economy has further increased the complexity of investment decisions concerning sustainable innovations, due to the multiple value creation and new business models involved . On the other hand
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In BOP ventures the notion of “selling to the poor” has steadily been replaced by business approaches that suggest sustainable value creation. This has certain implications, in particular the development of strategies that serve triple bottom-line goals. These include economic, social and environmental benefits, in other words, the well known goals of people-planet-profit. However to optimise value-creation one ideally needs to follow a strategy that is based on some form of conceptual model that can serve as a frame of reference. This paper proposes such a conceptual model. The research was undertaken in 8 BOP projects involving multinational information and communication technology companies in Africa. ICT is relevant here because of frequently high expectations that it contributes positively to development goals. A study of the BOP literature reveals that several elements need consideration when trying to create value in developing areas. In addition it emerges that these elements are somehow interdependent. Using information found in the literature as guide a study of 8 cases was undertaken. The research approach was the case study method and the data was analysed for emerging patterns. Primary and secondary data was collected through interviews as well as a close study of archival and other sources. The analysis revealed three high level factors that may need to be aligned in order to ensure optimised value creation of BOP ventures. These three factors are BOP strategy, partnerships, and products & services development. It is also confirmed that neither BOP strategy nor partnerships nor products/service development can be synthesised independently from the rest. There is a delicate balance and interaction between the three where all three are interdependent and mutually influence each other.
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This paper investigates how management accounting and control systems (operationalized by using Simons’ (1995a) levers of control framework) can be used as devices to support public value creation and as such it contributes to the literature on public value accounting. Using a mixed methods case study approach, including documentary analysis and semi-structured interviews, we found diverging uses of control systems in the Dutch university of applied sciences we investigated. While belief and interactive control systems are used intensively for strategy change and implementation, diagnostic controls were used mainly at the decentral level and seen as devices to make sure that operational and financial boundaries were not crossed. Therefore, belief and interactive control systems lay the foundation for the implementation of a new strategy, in which concepts of public value play a large role, using diagnostic controls to constrain actions at the operational level. We also found that whereas the institution wanted to have interaction with the external stakeholders, in daily practice this takes place only at the phase of strategy formulation, but not in the phase of intermediate strategy evaluation.
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Recent advances in digital technologies profoundly influence our daily lives and work. While enabling solutions to societal issues, these technologies also demand new knowledge and skills from professionals. An increasingly common way for organizations to address this issue is to set up learning communities as a space in which (future) professionals of different backgrounds can work, learn, and innovate together. The CLIC-IT project explores how public-private learning communities can foster learning, collaboration, and innovation among participants and develop supportive methods and tools. One challenge faced by learning communities is making value creation and impact visible and enhancing it. To facilitate a dialogue on value creation and the mechanisms that produce value, we developed a serious board game. The game allows learning community participants to identify individual and collective mechanisms ofvalue creation and fosters discussion on the collaboration’s value. The workshopincludes a brief introduction, followed by gameplay to experience the game’s potential firsthand. Subsequently, the game experience will be discussed, and feedback will be collected to use for further refinement. Participants will walk away with an increased sense of the underlying mechanisms for value creation in interorganizational collaborations and new ideas to advance value creation in their own projects.
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