Business model innovation within SPOs: Exploring the antecedents and mechanisms facilitating multi-level value co-creation within a value-network

To be sustainable, social purpose organisations (SPOs) are increasingly engaging in value networks. This enables them to improve service delivery through social and economic value co-creation (VCC). However, operating within a value network will require SPOs to innovate their business models. This is a complex activity due to their distinctive governance structures and funding arrangements and the need to align value processes across a multiplicity of stakeholders. This paper advances knowledge by exploring how SPOs innovate their business models to engage in VCC through a value-network. By analysing three SPO value networks, we provide new insights into the antecedents and mechanisms of VCC which span the micro, meso, and macro levels of context. We also illustrate the factors which underpin SPOs ability to embed VCC within their business models through operating in a value network.