Exploring the practice of boundary work as an approach to multi-stakeholder alignment in sustainable business model innovations

Abstract

Business transformation has become an imperative in addressing sustainability challenges. Corporates are essential in the transition towards a more sustainable economic system, and innovations in business models are regarded as having better outcomes towards sustainability. However, one of the key challenges in sustainable business model innovation (SBMI) is multi-stakeholder alignment, and the topic of aligning stakeholder interests remains underexplored in practice. The question of alignment also raises the issue of boundaries. The study aimed to explore the practice of boundary work in the context of SBMI in order to achieve multi-stakeholder alignment. A practical understanding of the boundary work process is essential, as it equips managers with tools to assist them in boundary work when implementing SBMI, thereby supporting and accelerating sustainable development. The study leveraged stakeholder theory to interrogate stakeholder relationships in relation to multi-stakeholder alignment. The study was designed as an exploratory qualitative study. The study focused on large organisations across multiple sectors within South Africa, most of which are listed on the Johannesburg Stock Exchange (JSE). Data was gathered through semi-structured interviews with 15 senior managers and executives involved in sustainability and strategy implementation. The study makes a potential contribution to the literature through the development of a conceptual framework that presents key constructs and themes related to the boundary work process in SBMI. The research outcomes contribute to the growing yet emerging literature on SBMI, focusing particularly on multi-stakeholder alignment.