Akademik Veri Yönetim Sistemi
12th International Conference on Management, Czestochowa, Polonya, 15 - 16 Haziran 2023, ss.33-40
This paper aims to propose a new business model that emphasizes sustainability and stakeholder-centric approaches for creating the common good. The traditional focus on maximizing shareholder value has led to an imbalance between business rights and responsibilities towards society and the environment. To address this issue, a paradigm shift is needed in strategic management. The proposed business model advocates for comprehensive value creation by integrating sustainability principles and stakeholder theory into core business strategies. The framework integrates multiple theoretical perspectives, including Stakeholder Theory, Resource-Based View, Corporate Governance, Real Options Theory, Institutional Theory, Systems Theory, Triple Bottom Line, and Diffusion of Innovation Theory. By considering the long-term impact of actions, fostering stakeholder collaboration, and recognizing the interconnectedness of economic, social, and environmental dimensions, organizations can contribute to a more equitable and sustainable future. This research highlights the importance of a future-oriented approach to strategy design and aims to guide organizations in becoming agents of positive change. By embracing comprehensive value creation, businesses can play a crucial role in shaping a better world for present and future generations.
Key words: common good, comprehensive value creation, contemporary strategic management model, corporate
governance, corporate sustainability, real options theory, resource-based view (RBV) of the firm, stakeholder
theory, strategy.