In Search of Sustainable Value: A Structured Literature Review
The concept of value, where shareholders are the main recipients of the created value, is changing towards more comprehensive models, which respond to the increased stakeholder awareness and urgent sustainability agenda. Hart and Milstein (2003) elaborated the widely used sustainable value concept i...
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doaj-7c937e35f61e4b44ac74616d9f6558142020-11-25T01:45:08ZengMDPI AGSustainability2071-10502020-01-0112261510.3390/su12020615su12020615In Search of Sustainable Value: A Structured Literature ReviewAndrea Cardoni0Evgeniia Kiseleva1Paolo Taticchi2Department of Economics, University of Perugia, Via Alessandro Pascoli, 20, 06123 Perugia, ItalyDepartment of Economics, University of Perugia, Via Alessandro Pascoli, 20, 06123 Perugia, ItalyBusiness Schools, Imperial College London, 457 ACE Extension, South Kensington Campus, London SW7 2AZ, UKThe concept of value, where shareholders are the main recipients of the created value, is changing towards more comprehensive models, which respond to the increased stakeholder awareness and urgent sustainability agenda. Hart and Milstein (2003) elaborated the widely used sustainable value concept in which they characterize temporal and spatial dimensions of value, and suggest strategic drivers for sustainability. Although the framework is highly cited, there is no review on the changes over more than ten years. In this paper, we adopted a structured literature review methodology to discover how the concept of sustainable value has been used by researchers and how it has been developed. Our findings show that sustainable value has mainly been used as the general phrase to describe positive business results instead of using it as a concept. Scholars, who make an in-depth analysis of sustainable value do not emphasize the time horizon of sustainable value as its peculiar characteristic while broad stakeholder surrounding is called to be an important feature of sustainable value. Additionally, strategic drivers for sustainability have moved from being purely environmental as in Hart and Milstein’s (2003) concept: globalization, economic fluctuations, and knowledge innovation have become as important as green technologies and carbon-reduction policies.https://www.mdpi.com/2071-1050/12/2/615sustainable valuesustainabilityenvironmentcsrstakeholdersstructured literature review |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Andrea Cardoni Evgeniia Kiseleva Paolo Taticchi |
spellingShingle |
Andrea Cardoni Evgeniia Kiseleva Paolo Taticchi In Search of Sustainable Value: A Structured Literature Review Sustainability sustainable value sustainability environment csr stakeholders structured literature review |
author_facet |
Andrea Cardoni Evgeniia Kiseleva Paolo Taticchi |
author_sort |
Andrea Cardoni |
title |
In Search of Sustainable Value: A Structured Literature Review |
title_short |
In Search of Sustainable Value: A Structured Literature Review |
title_full |
In Search of Sustainable Value: A Structured Literature Review |
title_fullStr |
In Search of Sustainable Value: A Structured Literature Review |
title_full_unstemmed |
In Search of Sustainable Value: A Structured Literature Review |
title_sort |
in search of sustainable value: a structured literature review |
publisher |
MDPI AG |
series |
Sustainability |
issn |
2071-1050 |
publishDate |
2020-01-01 |
description |
The concept of value, where shareholders are the main recipients of the created value, is changing towards more comprehensive models, which respond to the increased stakeholder awareness and urgent sustainability agenda. Hart and Milstein (2003) elaborated the widely used sustainable value concept in which they characterize temporal and spatial dimensions of value, and suggest strategic drivers for sustainability. Although the framework is highly cited, there is no review on the changes over more than ten years. In this paper, we adopted a structured literature review methodology to discover how the concept of sustainable value has been used by researchers and how it has been developed. Our findings show that sustainable value has mainly been used as the general phrase to describe positive business results instead of using it as a concept. Scholars, who make an in-depth analysis of sustainable value do not emphasize the time horizon of sustainable value as its peculiar characteristic while broad stakeholder surrounding is called to be an important feature of sustainable value. Additionally, strategic drivers for sustainability have moved from being purely environmental as in Hart and Milstein’s (2003) concept: globalization, economic fluctuations, and knowledge innovation have become as important as green technologies and carbon-reduction policies. |
topic |
sustainable value sustainability environment csr stakeholders structured literature review |
url |
https://www.mdpi.com/2071-1050/12/2/615 |
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AT andreacardoni insearchofsustainablevalueastructuredliteraturereview AT evgeniiakiseleva insearchofsustainablevalueastructuredliteraturereview AT paolotaticchi insearchofsustainablevalueastructuredliteraturereview |
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