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Social and economic value creation by Bendigo Bank and Stockland Property Group: Application of Shared Value Business Model
Author(s) -
Mehera Asoke,
OrdonezPonce Eduardo
Publication year - 2021
Publication title -
business and society review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.524
H-Index - 21
eISSN - 1467-8594
pISSN - 0045-3609
DOI - 10.1111/basr.12224
Subject(s) - creating shared value , interview , business value , stakeholder , value (mathematics) , business , value proposition , business model , stakeholder engagement , value network , public relations , marketing , equity (law) , stakeholder analysis , thematic analysis , knowledge management , corporate social responsibility , economics , sociology , qualitative research , political science , microeconomics , social science , machine learning , anthropology , computer science , law , profit (economics)
This case study explores how two Australian businesses—Bendigo Bank and Stockland Property—have adopted thematic components of the shared value business model to create social and economic value for their stakeholders. Information about organizational business models was collected from their annual reports and by interviewing company representatives. The study finds that Bendigo and Stockland have emphasized a new thematic component of stakeholder engagement—namely, customers and regional communities—in addition to three thematic components of shared value business model—reconceiving products, redefining the value chain, and using clustered collaboration—to create value. Additionally, both companies have increased their return on equity considerably in the period 2014–2019 while enhancing social value based on strategic initiatives. The study concludes by recommending an extended version of the shared value business model to enhance social and economic value creation based on stakeholder engagement.