The Societal Drivers for Value Creation: A Multiple-stakeholder Perspective to Value Processes in the Finnish Forest Industry

Although being international for already long time, it is not until fairly recently the Finnish forest industry companies have fully embraced the global dimension. As a result, the role of the ownership has been renegotiated, and the effect of the various social, political and economic interest groups on the operational environment has been recognised. The role of the key customers and the customer-portfolio management has strengthened in business development.

Accordingly, the business value creation should cater for a variety of stakeholders and consider not only the firm-internal processes but also the broader value system in the society. The value in itself includes not only financial capital, but the firms should also consider the accumulation of their reputational assets. This research project examines the congruencies and possible contradictions between customer-oriented value processes and the larger, societal value creation.

As a whole, the project aims at enhancing the understanding of value creation in business companies by examining the firm-internal value processes (the value created and applied through marketing know-how) and their societal drivers (value system in the society). The societal value drivers and expectations are identified and compared with the CSR (Corporate Social Responsibility)-driven stakeholder management practices of the industry. Value creation in the supplier-customer relationships is analysed by taking into consideration the societal context affecting the customer's and supplier's value expectations.

Contact Information: Professor Heikki Juslin, Metsäekonomian laitos, PL 27, 00014 University of Helsinki; heikki.juslin(at)helsinki.fi