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This work presents a review of the state of the art of the present century on academic and scientific production in Latin America related to the concept of Social Innovation. The analysis is based on articles published in indexed journals, which makes it possible to understand the existing asymmetry between the conceptual and theoretical veins, of the case studies, as well as of good social innovation practices that have been published in recent years. These debates have in some cases transcended public policies, as well as business and social realities where social innovation is a mechanism and strategy for personal, social, and territorial development. Finally, a Latin American community of researchers and academics around social innovation must be consolidated, who choose to continue building theoretical-empirical bodies following the Latin American reality.

Managers must make numerous strategic decisions in order to initiate and implement a business model innovation (BMI). This paper examines how managers perceive the management team interacts when making BMI decisions. The paper also investigates how group biases and board members’ risk willingness affect this process.

Empirical data were collected through 26 in-depth interviews with German managing directors from 13 companies in four industries (mobility, manufacturing, healthcare and energy) to explore three research questions: (1) What group effects are prevalent in BMI group decision-making? (2) What are the key characteristics of BMI group decisions? And (3) what are the potential relationships between BMI group decision-making and managers' risk willingness? A thematic analysis based on Gioia's guidelines was conducted to identify themes in the comprehensive dataset.

First, the results show four typical group biases in BMI group decisions: Groupthink, social influence, hidden profile and group polarization. Findings show that the hidden profile paradigm and groupthink theory are essential in the context of BMI decisions. Second, we developed a BMI decision matrix, including the following key characteristics of BMI group decision-making managerial cohesion, conflict readiness and information- and emotion-based decision behavior. Third, in contrast to previous literature, we found that individual risk aversion can improve the quality of BMI decisions.

This paper provides managers with an opportunity to become aware of group biases that may impede their strategic BMI decisions. Specifically, it points out that managers should consider the key cognitive constraints due to their interactions when making BMI decisions. This work also highlights the importance of risk-averse decision-makers on boards.

This qualitative study contributes to the literature on decision-making by revealing key cognitive group biases in strategic decision-making. This study also enriches the behavioral science research stream of the BMI literature by attributing a critical influence on the quality of BMI decisions to managers' group interactions. In addition, this article provides new perspectives on managers' risk aversion in strategic decision-making.

Despite a rich extant literature, it is unclear what business models are. We assess three dominant conceptions of business models in the academic literature: as transactional structures, value extracting devices, and mechanisms for structuring the organization. To overcome the shortcomings of these approaches, we draw on theories of performativity, social typecasting, and managerial cognition. We propose an alternative conception of business models as performative representations that work in three ways: as narratives that convince, typifications that legitimate, and recipes that guide social action. Rather than actual features of firms, business models are representations that allow managers to articulate and instantiate the value of new technologies.

This paper aims to explore how stakeholders are voluntarily granted influence in corporate decision making.

The stakeholder governance practices of 46 companies were explored in a multiple comparative case analysis, drawing on publicly available sources.

The research finds that stakeholders are granted a voice regarding operational, managerial as well as strategic issues. The power granted to stakeholders varies from non‐participation to co‐decision making. The majority of engagements found are a combination of low power and low scope of participation, which are limited in their potential to align the views of those inside and outside the corporate boundaries.

The data used in this research relied on publicly available sources, such as company reports, articles and web sites.

By seeing an array of different stakeholder governance mechanisms managers can reflect on their own approach to stakeholders and see how other companies use stakeholder engagement for scenario planning and innovation.

The paper is the first to empirically analyse a broad range of companies regarding their voluntary stakeholder engagement mechanisms. This design allows the creation of a heuristic for stakeholder governance as well as for identifying clusters.

The purpose of this paper is to provide an integrative framework on business models that combines and connects concepts pertinent to the literatures of strategy, entrepreneurship, and organization.

The paper describes the framework's theoretical development.

The framework enriches the discussion on business models by providing a life cycle perspective.

This paper aims at advancing the theoretical grounds of business models by integrating and extending the existing literature. In the future, further research needs to evaluate the use of this integration.

The paper integrates a number of disparate contributions to the understanding of business models from the fields of strategy, entrepreneurship and organization theory.

This paper aims to provide a personal perspective on the extent to which business schools have globalized what they teach and to make content‐ and process‐related suggestions about how to make further progress.

The paper provides a mixture of quantitative and qualitative/interpretative analysis.

The paper finds that rhetoric around the globalization of business education has greatly outrun the reality of curricular change and this problem seems unlikely to be solved until the craving for distinctively global content can be satisfied.

Semiglobalization – the intermediate state of integration in which neither the bridges nor the borders between countries can be ignored – is proposed as a conceptual umbrella for organizing curricular change and in terms, of process, a two‐track‐approach, combining infusion and insertion, is recommended.

Both the conceptual and procedural recommendations of this paper are novel.

Imagining a new business model is a creative process that requires entrepreneurs to define how a firm can create and capture value with a new activity. The literature emphasises various tools and approaches for prototyping business models. The purpose of this paper is to investigate the suitability of story-making as a means of designing new business models and to shed light on its potential for stimulating creative entrepreneurial thinking.

This paper tests the use of story-making for business modelling in a real-life case to show its usefulness and shed light on its potential for stimulating creative entrepreneurial thinking.

The authors argue that story-making should be recognised as an approach to business modelling that can foster creativity and empathy. Building on insights from design thinking literature, the paper shows that planning for a long exploratory phase is necessary to allow system thinking. It also shows that anchors can act as intermediary stopping rule and help manage complexity.

The paper introduces an original method for crafting business models during early stages of the innovation process and argues that this method could also be used to design business processes, especially when they are not already formalised.

Purpose – This paper focuses on a unique historical case study of industry evolution in order to develop a road map where historical and strategic research could develop a common ground for trans-disciplinary inquiry.

Design/methodology/approach – The industry I explore is the Universal Credit Card Industry since its inception with the Diners Club in 1949 until its maturity in late 1990s. My empirical objective here is to develop a historically detailed and theoretically rich case study in which evolutionary processes are discovered as a result of the historical narrative.

Findings – The historical account of the industry demonstrates how the evolution of alternative business models as organizing forms has led to the establishment of interorganizational platforms with unique ecosystems. These alternative business models, through various experimentations, have ultimately produced two critical interorganizational organizations, one based on an open-loop system represented by Visa and MasterCard, and the other based on a closed-loop system represented by Diners Club and the American Express. The historical account also shows that in a given industry competition is not only among specific firms in the industry but also among the business models and the platforms created by these models.

Originality/value – I conclude that historical analyses reveal the nature of competition not only among firms but also among alternative business models where traditional strategy research rarely covers.