TY - JOUR
T1 - For-Benefit Company (fBComp)
T2 - An innovative social-business model. The Italian case
AU - Czinkota, Michael
AU - Kaufmann, Hans Rüdiger
AU - Basile, Gianpaolo
AU - Ferri, Maria Antonella
N1 - Publisher Copyright:
© 2018 Elsevier Inc.
Copyright:
Copyright 2020 Elsevier B.V., All rights reserved.
PY - 2020/10
Y1 - 2020/10
N2 - In 2015, a new kind of company was introduced by law in Italy: the for-Benefit Company (fBComp). Such firms are characterized by a relevant novelty: they are for-profit companies whose statute explicitly recognizes and intends the impact of managerial decisions on the wellbeing of society as well as of its shareholders. This study suggests on the fBComp as a new “social” business model (SBM) which integrates social and competitive behaviors. Thereby, the company achieves its objectives by creating and maintaining biunivocal relations with stakeholders, co-creating contextual sustainability conditions, increasing its reputation and positioning compared to its competitors. By conducting a desk analysis on the results of the Italian Report on fBComp, this paper designs a portrait of this innovative social business model's main features and explains its possibly far-reaching, trendsetting and curing influences on the transition of management practices towards mutual stakeholders' wellbeing and a sustainable society.
AB - In 2015, a new kind of company was introduced by law in Italy: the for-Benefit Company (fBComp). Such firms are characterized by a relevant novelty: they are for-profit companies whose statute explicitly recognizes and intends the impact of managerial decisions on the wellbeing of society as well as of its shareholders. This study suggests on the fBComp as a new “social” business model (SBM) which integrates social and competitive behaviors. Thereby, the company achieves its objectives by creating and maintaining biunivocal relations with stakeholders, co-creating contextual sustainability conditions, increasing its reputation and positioning compared to its competitors. By conducting a desk analysis on the results of the Italian Report on fBComp, this paper designs a portrait of this innovative social business model's main features and explains its possibly far-reaching, trendsetting and curing influences on the transition of management practices towards mutual stakeholders' wellbeing and a sustainable society.
KW - Curative marketing
KW - For-Benefit Company
KW - Social legitimacy
KW - Social value co-creation
KW - Stakeholder engagement
UR - http://www.scopus.com/inward/record.url?scp=85058216469&partnerID=8YFLogxK
U2 - 10.1016/j.jbusres.2018.12.022
DO - 10.1016/j.jbusres.2018.12.022
M3 - Article
AN - SCOPUS:85058216469
SN - 0148-2963
VL - 119
SP - 377
EP - 387
JO - Journal of Business Research
JF - Journal of Business Research
ER -