Broadening the business model construct: Exploring how family-owned SMEs co-create value with external stakeholders

This paper explores how family-owned SMEs and their external stakeholders co-create value for end consumers. Our empirical data consists of 22 semi-structured interviews with the senior management of family-owned SMEs, supplemented by 1107 items of archival data. The findings shed light on precisely how contemporary family business practitioners can expand their business model (through external orientation and stakeholder collaborations). In...