Firm socialisation: ambidexterity or new business paradigm?

Frame of the research: This work focuses on the interaction between the approaches to (eco)systems by stakeholder management and open innovation. 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 help answer 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 within an open innovation context and how it is helpful to ease the ambidexterity of firm purposes. Results: Using a peer-to-peer open innovation perspective sheds light on the role of stakeholders as social and/or economic agents who, based on their stake in one or more specific issues, could create, adapt, and lead the ecosystem to address social, environmental, and economic issues and 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 understand how adopting a stakeholder management perspective to stretch forward an open innovation approach may be fruitful in researching how to find innovative solutions to socio-environmental issues aligned, thanks to feedback loops with their economic performance. Originality of the paper: The recent years’ scenario, characterised by grand challenges post the COVID-19 pandemic, such as those related to climate change and demographic and geopolitical issues, calls for new solutions leveraging science, technology and innovations, activating policymakers, entrepreneurs and non-profits to supply real, shared, and repeatable answers to these national and global needs with a high likelihood of global impact.