Sustainable Business Models and Value Co-creation by Stakeholders: The Potential of social media

Many companies are now striving to conduct their business in accordance with the principles of sustainable development. The value they offer typically integrates three basic dimensions, namely: economic, social, and environmental one. Thanks to social media, it is possible to involve a wide range of stakeholders in the value creation process. It can be assumed that increasing the involvement of stakeholders in social media, thus increasing their contribution to creating a particular value, causes the improvement of both economic results achieved and the socio-environmental effects.