The Triple Bottom Line Co-creation Canvas

Abstract

By adopting digital technologies, SMEs can potentially improve their financial performance by increasing efficiency, reducing costs, and reaching new markets. For small and medium-sized enterprises (SMEs), such investments can be particularly challenging due to their limited resources and reliance on external cooperation. As a result, many successful SMEs have opted to collaborate with other companies to co-create digital assets. Digital transformation can also have social and environmental impacts, both positive and negative. By considering social and environmental impacts alongside financial performance, SMEs can identify and address potential risks and opportunities, and develop strategies that balance the three dimensions of the Triple Bottom Line. This concept refers to the idea that enterprises should not only focus on financial profits but also on social and environmental impact. However, there is limited research on this topic, and little is known about how SMEs should manage such a co-creation network. To address this gap, we have developed a conceptual model of a Triple Bottom Line co-creation canvas based on a review of the literature and real-life co-creation cases. We illustrate the use of the canvas in two business cluster cases. This canvas can be a valuable tool for SMEs looking to better understand how to approach co-creation network in their industry that takes corporate sustainability into account.