The literature on Base of the Pyramid (BoP) strategies emphasizes that creating social value requires collaborative, multi-stakeholder business approaches. However, there is limited understanding of how businesses can successfully coordinate such value creation processes in the developing economies that face significant institutional voids. This study adopts a business model perspective for analyzing social value creation processes that span organizational boundaries. We introduce a novel, theoretically grounded business model framework that helps conceptualize social value by locating the various loci of value creation, and the stakeholders that partake in creating and capturing this value. We subsequently analyze the mechanisms of social value creation in M-Pesa, a renowned boundary-spanning mobile money system that has advanced financial inclusion among tens of millions of users in Kenya. The results show that information and communications technology can help advance social value creation by reducing the cost of coordinating boundary-spanning business models that integrate diverse societal stakeholders. The results further point to uneven distributional outcomes in self-governing social value creation strategies where the focal firm plays a coordinating role.

基于金字塔（BoP）策略的文献强调，创造社会价值需要协作，多利益相关方的业务方法。但是，对于企业如何在面临巨大制度空白的发展中经济体中成功地协调这种价值创造过程的理解有限。本研究采用业务模型的观点来分析跨越组织边界的社会价值创造过程。我们介绍了一种新颖的，具有理论基础的业务模型框架，该模型可通过查找价值创造的各个场所以及参与创造和获取该价值的利益相关者的位置来帮助概念化社会价值。随后，我们分析了M-Pesa的社会价值创造机制，一个著名的跨边界移动货币系统，该系统已在肯尼亚数千万用户中实现了金融普惠。结果表明，信息和通信技术可以通过降低协调整合了不同社会利益相关者的跨边界业务模型的成本来帮助促进社会价值创造。结果还表明，在自治公司发挥协调作用的自治社会价值创造策略中，分配结果不均衡。