Sinergie Italian Journal of Management

Imagining a better world: how are companies transforming capitalism?

2025-03-31T08:28:08+00:00

“The factory cannot look only at the profit index. It must distribute
wealth, culture, services, democracy”. This is what Adriano Olivetti, one of
the most enlightened Italian entrepreneurs, claimed more than seventy
years ago, concretely demonstrating that a different model of value creation
was possible in the business sector, aimed not only at generating relevant
economic return for shareholders, but also at contributing to the lives of
employees, local communities, suppliers, customers, society at large.... continued

What do we really mean by “purpose-driven businesses”?

2024-05-22T09:23:07+00:00

Purpose of the paper: The term purpose is increasingly used to characterise businesses which are not merely guided by a general mission but also by a social one. Given the popularity of the term, deeper analysis of the distinctions/similarities with other concepts are needed, which is the aim of the present paper, which also offers a detailed proposal of what can be meant by Purpose-Driven Businesses (PDBs).

Methodology: First, we comprehensively reviewed the literature on purpose-driven businesses; then, we discussed related theoretical approaches and managerial challenges; third, we tried to contribute with a definition of what a purpose-driven business is in the contemporary landscape.

Findings: We have specified the differences between purpose-driven businesses and other similar concepts. Also, we provided a list of characteristics that PDBs must have, might have and cannot have.

Research limits: Our study has a theoretical nature, but it was conducted with the collaboration of various scholars specialised in the field of purpose. Our (theoretical) findings may be useful for further empirical works.

Practical implications: This paper provides a robust and better understanding of what is meant by PDBs, and this can have practical implications not only in academia but also in business and policy contexts.

Originality of the paper: This paper provides an original and useful contribution for scholars and practitioners working in the field of PDBs.

Leaving no one behind: Can the Economy of Francesco challenge the status quo?

2024-09-05T08:53:12+00:00

As behavioral and experimental economics demonstrate, interpersonal aspects are relevant to economic decisions. This paper aims to study the function of relational goods in transformational practices. We investigate what key elements should underpin the consumption of relational goods in organizations to foster transformation and challenge the unsustainability of the status quo. We analyze the Economy of Francesco (EoF) movement to study what elements generate cooperative choices for the common good when relational goods are consumed. In addition, potential research contributions are proposed to support the development of new research avenues in the field.

Navigating Corporate Governance in Benefit Corporations and certified B Corps: A Systematic Literature Review

2024-07-26T15:03:09+00:00

Purpose of the paper: This study aims to systematize the scientific knowledge related to Benefit Corporations and certified B Corps with a focus on the issue of Corporate Governance.

Methodology: A qualitative Systematic Literature Review employing the PRISMA methodology was adopted, adhering to a transparent and reproducible methodology for searching, assessing quality, and synthesizing information.

Findings: Research on Governance in BCorp and Benefit Corporations centers around three key themes: Law & Organizational Identity, Accountability & Measurement, and Management & Stakeholder Engagement. It's noteworthy that these three dimensions are frequently interconnected and influence one another.

Research limits: The selection criteria for conducting the SLR were narrow, including only peer-reviewed articles written in English. Additionally, the decision was made to exclusively consider articles published in ABS-listed journals to ensure the inclusion of high-quality studies. Furthermore, each article underwent analysis and classification based on the interpretation and consensus of the authors.

Practical implications: Through this study, the authors aim to contribute to the advancement of scientific understanding regarding governance within BCs and B Corps, offering valuable insights for both companies and policymakers in navigating this field.

Originality of the paper: To date, no systematic literature review has comprehensively examined the issue of governance in BCs and B Corp management research.

Firm Socialization: ambidexterity or new Business Paradigm?

2024-12-04T17:24:38+00:00

Frame of the Research: This work focuses on the interaction between the stakeholder management approach in an open innovation (eco)system.

Purpose of the paper: The authors address the changing role of social actors, public institutions, and companies and how, if they operate as ecosystem components in an open innovation context, they can contribute to answering social and environmental challenges using new technologies and leveraging modular support from a heterogeneous set of actors.

Methodology: This work presents a conceptual model to support scientific advancements in understanding the relevance of the stakeholder management approach and how it is present in ambidexterity firm purposes.

Results: Using a peer-to-peer open innovation perspective sheds light on the role of stakeholders as social and/or economic agents that, based on their stake in one or more specific issues, could create, adapt, and lead the ecosystem to answer for social, environmental and economic issues, further align corporate objectives with social and environmental performance.

Research limits: This work presents a conceptual model that does not enter into the specific motivations of each single actor, leaving them to further research attempts.

Practical implications: The conceptual model may help modern companies to understand how adopting a stakeholder management perspective, the research to find an innovative solution to socio-environmental issues may be aligned, thanks to feedback loops with the usual economic performance.

Originality of the paper: The recent years’ scenario, characterized by Grand Challenges post the COVID-19 pandemic, such as those related to climate change, demographic, and geopolitical issues, calls for new solutions leveraging science, technology and innovations, activating policymakers, entrepreneurs and no profits to supply real, shared are repeatable, answers to these national and global needs with a high likelihood of global impact.

The purpose-driven crowdfunding and the growing potential of microlending

2024-07-01T13:56:32+00:00

This study sheds light on the borrowers' backgrounds and on their loan purposes, offering valuable insights into the motivations and aspirations of individuals seeking financial support via crowdfunding. The identification of specific loan purposes related to borrowers' backgrounds provides a deeper understanding of their entrepreneurial drive, commitment to their families' well-being, and efforts to overcome poverty.

Sustainable projects in crowdfunding campaigns: an explorative study in Italy

2024-07-16T09:42:37+00:00

Purpose of the paper: The paper aims at defining if the sustainability orientation of projects (social or environmental) positively influences the possibility of succeeding in online equity crowdfunding campaigns.

Methodology: Through the acquisition of data relating to a sample of 240 investment projects present in one of the main Italian online crowdfunding platforms, the research led to the initial construction of a database and the subsequent testing of the research hypotheses.

Findings: The research results show that projects with a sustainable orientation attract a higher number of investors and offer greater participation in the company. However, there are no significant differences compared to business-oriented projects in exceeding the financing target and in the average investment.

Research limits: The research consider only one crowdfunding platform, is based on limited information that can be easily gathered and does not consider if companies proposing sustainable projects are able not only to raise funds through crowdfunding platforms but also employ the funds effectively over time.

Practical implications: This study highlights the existence of high growth opportunities in the field of online equity crowdfunding. This represents an opportunity both for sustainability-oriented companies that wish to raise funds, and for online platforms that can develop new services and achieve market differentiation.

Originality of the paper: Considering the Italian context, the research compares projects sustainable-oriented and business-oriented within crowdfunding campaigns. It represents an explorative study that provides some first insights from which to trigger a future debate on crowdfunding and social entrepreneurship in Italy.

A.P. Giannini: The Humanistic Paradigm of Bank of America at the Service of the «Little Fellow»

2024-12-04T17:19:32+00:00

Frame of the research: A plaque at the entrance of the Bank of Italy building in San Francisco celebrates the humanistic paradigm of the humble banker:

“A.P Giannini founded Bank of Italy in San Francisco in
1904 to «serve the needs of others the only legitimate business in the world today». His devotion to this farsighted philosophy revolutionized the face of banking, and he lived to see his «Bank for the Little Fellows» become Bank of America, the largest bank in the world. To his philosophy of service for all […] who work for the bank he inspired are dedicated”.

Purpose of the paper: The telos is to highlight the connection between Giannini’s professional ethics, his spiritual vision, and his commitment to shared well-being and innovation in serving the patron.

Methodology: The study uses qualitative analysis of Claire Giannini Hoffman’s original documents at UC Berkeley’s Bancroft Library to draw conclusions.

Findings: The analysis highlights the need to blend ethical, humanistic, and spiritual values in finance and business leadership training.

Research limits: The essay has a limitation due to the initial use of the first documents found in Claire’s archive.

Practical implications: The humble giant approach to banking that goes beyond mere profit logic, drawing inspiration from Franciscan economic doctrine and the experience of the Monti di Pietà.

Originality of the paper: The study delves into selecting and analyzing documentary sources, linking Giannini’s humanistic philosophy with banking impacts, and offers fresh, anagogical perspectives to business and finance literature.

From Wine to Circular Vines via the BCorp Certification: an exploratory analysis of Italian SMEs

2024-05-22T09:28:50+00:00

Purpose of the paper: This study aims to explore how BCorp certification can guide low-tech hybrid-purpose SMEs in embodying Circular Economy principles. It addresses the following research question: is the BCorp certification an appropriate tool for anchoring Circular Economy principles at the core of SMEs, leading to a better balance between social and economic purposes?

Methodology: To address the aforementioned research question, this research employs a comparative multiple analysis approach focused on six Italian wine BCorps. This qualitative approach allows for an in-depth exploration of entrepreneurial and circular transformative paths of selected companies, boosted by the requirements of the certification scheme.

Findings: The findings highlight the practices and initiatives that influence and guide the potential circularity of the selected companies, by assessing the efficacy of BCorp certification in facilitating the integration of Circular Economy principles.

Research limits: The exploratory nature of this study represents its main limitation, restricting the generalizability of result. The findings are also heavily context-dependent, requiring further investigations in other industries and countries. However, these limitations provide a platform for future research.

Practical implications: The present study offers some practical implications. Managers of hybrid-purpose organizations could benefit from a categorization of practices and initiatives that allows BCorps to pursue a double profit-purpose goal with Circular Economy principles, while fostering the effective implementation of business models for Circular Economy.

Originality of the paper: This paper’s originality lies in its ability to explore the potential of BCorp certification’ requirements in guiding companies in the application of Circular Economy principles.

Beyond Profit: The Role of Colombian Business Leaders in Transforming Business and Building Sustainable Peace

2024-09-04T12:04:12+00:00

Frame of the research: Humanistic Management (HM) principles can revolutionize leadership in conflict zones through the private sector’s engagement in peacebuilding. By prioritizing stakeholder dignity and societal benefits, it aligns with Business for Peace (B4P) initiatives, aiming to deepen the understanding of socially responsible leadership and its impact on global peace efforts.

Purpose of the paper: To explore the role of business leaders in fostering sustainable peace in post-conflict Colombia, aiming to contribute new perspectives to the HM and the B4P dialogues. By analyzing the management practices of business leaders from purpose-driven organizations operating within Colombia, this research provides a deeper understanding of how business leadership through humanistic management can actively participate in the country’s peacebuilding efforts.

Methodology: This study uses a qualitative research design based on semi-structured expert interviews with Colombian business leaders to explore the nuances of B4P practices in post-conflict Colombia. Reflecting an exploratory approach, this method facilitated an in-depth understanding of HM and leadership roles in peacebuilding, aligning with the research's aim to contribute novel insights into the B4P discourse.

Results: The study reveals Colombian businesses’ significant roles in peacebuilding by creating jobs, fostering community ties, and practicing ethical leadership. It emphasizes the transformative impact of aligning business operations with peacebuilding efforts through strategic and ethical decision-making.

Research limitations: Given the study’s reliance on qualitative interviews and a focused sample of Colombian business leaders, the findings offer deep, contextualized insights but lack generalizability. This limitation underscores the need for further empirical research across different contexts to broaden understanding of the B4P phenomenon.

Practical implications: This research illuminates the strategic value of humanistic practices and community engagement in peacebuilding for businesses and policymakers in conflict zones. It presents Colombian businesses as models for harnessing commerce for economic growth and social healing, providing a pragmatic blueprint for integrating business operations with peace efforts.

The originality of the study: This research contributes uniquely to the emerging field of Business for Peace by examining the intersection of Humanistic Management and peacebuilding in the context of post-conflict Colombia. It offers new perspectives on the role of business leaders in promoting peace, addressing a gap in the literature, and providing a foundation for future studies in this area.

Sustainable strategies in energy-intensive industries: a qualitative study

2024-06-10T09:46:09+00:00

Frame of the research: Sustainability has emerged as a strategic lever, particularly crucial for energy-intensive companies operating within the upstream level of supply chains. These companies have to address resource scarcity and complexity while upholding sustainability goals.

Purpose of the paper: The study delves into how energy-intensive companies manage sustainable goals through circularity and supplier relationships.

Methodology: Employing a qualitative approach due to the exploratory nature of the research, the study applies a multiple case study comprising semi-structured interviews.

Findings: The results reveal that energy-intensive companies tackle sustainability challenges through product and process innovations, delineating four main approaches. Additionally, a conceptual matrix for sustainable strategies is developed.

Research limits: While a multiple case study offers insights, it is constrained by the number of actors involved. Quantitative research could enhance result generalizability and comparative analyses could spotlight cross-country similarities or differences.

Practical implications: Our paper support companies in discerning key sustainable approaches and strategies, serving as a guideline for enhancing sustainability commitment.

Originality of the paper: The paper stands among the few studies exploring sustainable strategies applicable to energy-intensive companies for successfully managing product and process innovations. By focusing on circularity and supplier relationships, it advances sustainability discipline and marketing practices, outlining four main approaches and varied strategies to bolster sustainability commitment.

Are smartphones moving toward commoditization? Evidence from the Italian market

2024-10-31T18:22:12+00:00

Purpose: Smartphones are relevant elements in individuals’ socio-economic everyday lives. Starting from the observation that the global smartphone market shows signs of saturation, the paper investigates the role of individual characteristics, product attributes, and use motivations on customer satisfaction of smartphone users in the Italian market. It also examines how these three dimensions affect the average smartphone lifespan and the number of smartphones owned, considering the latter indicators of the replacement and/or duplication rate, which are the main drivers of new sales in saturated markets.

Methodology: We conducted an online quantitative approach with a web survey of smartphone-owning Italian residents. The items concerning respondents’ lifestyles, smartphone features, and use motivations were reduced through exploratory factor analyses using the principal component extraction method. To identify the potential predictors of the variables of interest, hierarchical multiple linear regressions with the enter method were conducted.

Findings: The results highlight the major role of individual characteristics in the smartphone consumption compared to the technological attributes of the product; they also confirm the trend toward smartphone commoditization, where consumers consider products interchangeable if they meet basic requirements; consequently, the choice of smartphone is mainly made on economic convenience and customer satisfaction is mainly linked to basic attributes and price. New sales seem to take place through smartphone substitution/duplication by heavy social media users, by those who use smartphones mainly for study and/or work activities, and by those who still attribute hedonistic meaning to them.

Limitations: The empirical analysis is limited to the Italian context and adults over the age of 18 years.

Practical implications: Manufacturers interested in accelerating purchase frequency should focus on customers with specific lifestyles, particularly those who consume social media or have several hobbies, interests, and passions.

Originality: The work studies a saturated market by means of a multidimensional approach.