Sustainable Business Models and Value Co-creation by Stakeholders: The Potential of Social Media

Abstract:

Many companies are now striving to conduct their business in accordance with the principles of sustainable development. The value they offer typically integrates three basic dimensions, namely: economic, social, and environmental one. Thanks to social media, it is possible to involve a wide range of stakeholders in the value creation process. It can be assumed that increasing the involvement of stakeholders in social media, thus increasing their contribution to creating a particular value, causes the improvement of both economic results achieved and the socio-environmental effects.