Reimagining Ecological Value Creation: A Critical Review of Business Models for Biodiversity

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ABSTRACT

Conceptualizing biodiversity and its implications for systemic modes of value creation remains a challenge in business research and practice. Business models for sustainability (BMfS) as a concept have proven effective in integrating different types of non-monetary value creation. They could thus offer significant theoretical and practical insights into value creation for the benefit of biodiversity and natural ecosystems. To advance our understanding of BMfS as a vehicle for biodiversity conservation and restoration, we reimagine ecological value creation (EVC) through a problematizing literature review. By integrating insights from environmental ethics, we reveal underlying assumptions and identify a spectrum of ecological value logics. Our conceptual framework of ecological value functions captures how BMfS intend to create ecological value beyond anthropocentric assumptions. This framework offers a starting point for future research to explore business models for biodiversity through a relational lens, focusing on business model-biodiversity assemblages and co-creation processes of ecological value.

BIOGRAPHY

Kristin Krebs (she/her) is a PhD student and research associate at the UNESCO-Chair for Entrepreneurship and Intercultural Management at the University of Wuppertal. Her research lies at the intersection of business models and biodiversity with a focus on business-biodiversity relationships and non-human stakeholders. She is passionate about socioecological justice and curious about multispecies approaches in entrepreneurship and management research and practice.