Title: INVESTIGATING COMMUNITY-ORIENTED SME BUSINESS MODELS: A QUANTITATIVE STUDY OF STUDENT START-UPS IN VIETNAM
Authors:
Quan Nguyen Van* and Van Le Thuy
Abstract:
Community-oriented business models have increasingly attracted attention as a means of balancing economic objectives with social value creation. However, empirical evidence regarding how specific dimensions of community-oriented business models influence both business performance and social impact remains limited, particularly in the context of student-led start-ups in emerging economies. Based on the Stakeholder Theory (Freeman, 1984), Social Entrepreneurship Theory (Dees, 1998) and the concept of Creating Shared Value (Porter & Kramer, 2011), this study examines the effects of six community-oriented business model dimensions, including community value orientation, stakeholder inclusiveness, social problem-solving orientation, community engagement, sustainable value creation, and innovation for social good, on business performance and social impact among student start-ups in Vietnam. A quantitative research approach was adopted, and data were collected from 297 founders, co-founders, and key members of student start-ups operating in major Vietnamese cities. The proposed research model was tested using Partial Least Squares Structural Equation Modelling (PLS-SEM) with SmartPLS 3. The results indicate that community value orientation, stakeholder inclusiveness, community engagement, and sustainable value creation positively influence business performance. Stakeholder inclusiveness emerged as the strongest predictor of business performance. For social impact, community value orientation, stakeholder inclusiveness, social problem-solving orientation, and sustainable value creation were found to have significant positive effects. In contrast, social problem-solving orientation and innovation for social good negatively influenced business performance, while community engagement and innovation for social good negatively affected social impact. The study contributes to the literature by providing empirical validation of a multidimensional community-oriented SME business model framework and highlighting the potential trade-offs between social and economic objectives in student entrepreneurial ventures. The findings offer practical implications for entrepreneurs, universities, and policymakers seeking to promote sustainable and socially responsible entrepreneurship in Vietnam.
Keywords: Business performance; community-oriented business model; social impact; student start-ups.
PDF Download