Abstract
European countries share a concern about business investment: because of the financial
crisis, wealth creation is decreasing and business confidence is weak. At the same time,
social problems like unemployment, underemployment, and poverty are increasing.
In this context, the need to promote economic development consistent with social and environmental
concerns has drastically emerged.
There is an increasing opportunity to assess value creation from a sustainability standpoint
and with a social responsibility approach.
This is what we can define as a “social responsible business model”, based on value creation
for stakeholders. In the new context, also the concept of value creation has to be
changed from value creation for shareholders to value creation for all stakeholders. Value
creation also embed sustainable value (based on a triple bottom line approach), and social
responsibility. Since FFs pursue both economic and social objectives, we can say that there
is a lot of social responsibility in FFs. Family firms (FFs) seems to be likely to adopt the
triple-bottom line paradigm (economic, social, ecological performance) according to their
characteristics: literature affirms that additional feature that distinguishes FFs from NFBs
is their desire to preserve the family’s socioemotional wealth and the pursuit of nonfinancial
outcomes.
In the EU environment, SMEs (especially family SMEs) not only contribute significantly to
the European GDP and employment, but they are also recognized to adopt business models
more sensible to social issues and stakeholder needs.
Although sustainability has been discussed in management control literature to highlight
the need of sustainability control systems (SCSs), little is known about the mode of integration
between SCSs and traditional management control systems in family SMEs.
In order to support SMEs in developing more responsible, innovative and competitive
business models, this paper proposes to study the role of sustainability control systems
(SCSs). In this article we examine the management control literature and family business
literature with the purpose of proposing a sustainable business model. We summarize literature’s orientation, in order to identify the drivers of adoption of SCSs and their role in
the business model. Starting from a summary of the main FFs features, we will discuss the
following research questions:
-What are the interactions between different forms of social responsibility in FFs?
-How can we transfer the family firms’ attitude to social responsibility in a sustainable
business model?
-What are main elements of a sustainable business model that can leverage on family
firms business model?
-What are different tools, mechanisms, solutions needed to adopt and implement a sustainable
business model?
In summation, sustainability and social responsibility challenges are huge and fast growing:
family SMEs can reply to these challenges, supporting positive sustainable development
outcomes, with more responsible, innovative and competitive business model.
Lingua originale | Inglese |
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Titolo della pubblicazione ospite | Risk management: perspectives and open issues- A multi-disciplinary approach |
Editore | McGrawHill |
Pagine | 293-305 |
Numero di pagine | 13 |
ISBN (stampa) | 9780077180171 |
Stato di pubblicazione | Pubblicato - 1 gen 2016 |
Keywords
- family firms.
- management control systems
- sustainability