Jérémy Ranjatoelina
email: jt.ranjatoelina@iae.univ-lille1.fr

Tantely Phd

The inclusive business model revisited. An 'extended resource-based theory' definition built on the investigation of three diversified inclusive enterprises in France

Keywords: inclusive business model, 'extended resource-based theory', "wasted" human resource, strategic intent

The research on inclusive business models is in general focused on developing countries' low-income people. However, some inclusive enterprises in developed countries, as France for instance, are established, and do not only fight against economic exclusion. This existence reveals the relevance and the necessity to (re)define, in a holistic perspective, what an inclusive business model is. In this paper, we forward the 'extended resource-based theory' and highlight an inclusive strategic intent in favor of a category of "excluded" or "wasted" human resources. We base our discussion on a multiple cases-investigation of three French diversified inclusive-enterprises, in order to suggest a (re)definition of the inclusive business model, and several implications for strategy and for society.

INTRODUCTION

Inclusive business models are generally viewed to be addressed, by multinational companies, to the 'base of the pyramid' (BoP) markets in the context of developing countries [START_REF] Prahalad | Serving the World's Poor, Profitably[END_REF][START_REF] Prahalad | The fortune at the bottom of the pyramid: Eradicating poverty with profits[END_REF][START_REF] Simanis | The Base of the Pyramid Protocol: Toward Next Generation BOP Strategies[END_REF][START_REF] London | Creating mutual value: Lessons from ventures serving base of the pyramid producers[END_REF][START_REF] Thompson | Business Models: Creating new markets and Societal Wealth[END_REF][START_REF] George | Innovation for Inclusive Growth: Towards a Theoretical Framework and a Research Agenda[END_REF][START_REF] Halme | Innovation for Inclusive Business: Intrapreneurial Bricolage in Multination Corporations[END_REF][START_REF] Reficco | Inclusive Networks for Building BOP Markets[END_REF][START_REF] Yunus | Social Business and big business: innovative, promising solution to overcome poverty?[END_REF]. Generally, the notion of "inclusive business" seems to emphasize "the core principle that organizations can and do, engage in social innovation activities to connect disenfranchised individuals and communities with opportunities that foster social and economic growth. In doing so, inclusive growth diminishes trade-offs between growth and inequality because the poor become enfranchised as customers, employees, owners, suppliers, and community members" (George et al., 2012: 661-662). More precisely, the "inclusive business model" is defined by the UNDP « Growing Inclusive Markets » initiative within the following words: "Inclusive business models include the poor on the demand side as clients and customers, and on the supply side as employees, producers and business owners at various points in the value chain. They build bridges between business and the poor for mutual benefit" (UNDP, 2008: 2). This consideration of the people living in poverty (with less than 8 dollars per day) seems to drive social innovation within the private sector around the world. It also implies a large diversity of actors, which are federated by UNDP 'Business Call to Action' program (UNDP, 2008, 2010[START_REF]Breaking Through: Inclusive Business and the Business Call to Action today[END_REF]. Furthermore, the inclusive business model seems to have an empirical resonance with the core activities of every (social and classic) enterprise -including developed countries ones-which deliberately employs people who are in a situation of social exclusion, in the majority of its human resources.

In France, the field of inclusive social enterprises -mainly analyzed in European researches within the EMES network 'work integration social enterprise' (WISE) prism [START_REF] Borzaga | The emergence of social enterprise[END_REF][START_REF] Nyssens | Social Enterprise. At the crossroads of market, public policies, and civil society[END_REF][START_REF] Defourny | Conceptions of Social Enterprise and Social Entrepreneurship in Europe and the United States: Convergences and Divergences[END_REF][START_REF] Gianfaldoni | Incentives, Procurement and Regulation of Work Integration Social Enterprises in France: old ideas for new firms?[END_REF]is particularly institutionalized. In this context, inclusive social enterprises are particularly regulated and categorized upon a specific categorization of exclusion situations. The different kinds of considered WISEs -by the EMES network related researches i.e the structure d'insertion par l'activité économique (SIAE) cf. Borgaza & Defourny (2001); [START_REF] Gianfaldoni | Incentives, Procurement and Regulation of Work Integration Social Enterprises in France: old ideas for new firms?[END_REF]-do employ indeed, in a large majority, people who have been unemployed for a long period (two years and more). However, some inclusive-social-enterprise models seem to be unconsidered (or just simply forgotten) by the WISEs' French taxonomy: the entreprise adaptée (EA) 1 and the établissement et service d'aide par le travail (ESAT) 2 . In these two organization forms, workers in a situation of disability represent more than 80% of the global human resources. We advocate that an exploration of both and respectively EA and ESAT models should enrich the inclusive business model understanding, definition, and conceptualization, as the currently recognized WISEs (i.e. SIAE) and as the inclusive (classic) enterprises.

We argue that the (recent) 'extended resource-based theory' [START_REF] Warnier | Extending Resource-Based Theory: Considering strategic, ordinary and junk resources[END_REF][START_REF] Fréry | Competing with ordinary resources[END_REF] shed new theoretical insights on the highlighting of the social inclusion processes (or work integration, or employment) of "negatively-perceived" human resources, by an enterprise. [START_REF] Warnier | Extending Resource-Based Theory: Considering strategic, ordinary and junk resources[END_REF] suggest, indeed, a new typology of resources -including strategic, ordinary and "negatively perceived" (in terms of performance), resources-, based on the subjective and intersubjective perception by respectively actors and markets. Thus, they took as an example for such a "negatively-perceived" -or "wasted" [START_REF] Morrow | American Negroes -a Wasted Resource[END_REF]human resource (on the employment market) included by a performing (classic) enterprise: 1 adapted enterprise 2 protected sheltered workshop the Danish Specialisterne company -currently operating in 11 countries-which develops the work integration of people with Asperger syndrome. This illustration shows that "negatively perceived" "resources can be the basis of new business models when an entrepreneur creates new services (new uses) for them, leading to unsuspected performance" [START_REF] Warnier | Extending Resource-Based Theory: Considering strategic, ordinary and junk resources[END_REF](Warnier et al., : 1374)). [START_REF] Fréry | Competing with ordinary resources[END_REF] highlight the specificity of business models based on (massive) ordinary resources. In this paper, we investigate within a similar approach the defining characteristics of business models which are built upon (and in favor of) "wasted" (human) resources. In this way, this communication seeks to answer to the following research question: How can we (re)define what an inclusive business model is?

We investigate empirically three inclusive enterprises: Vitamine T, APF Entreprises, and Ethik Investment. The paper contents four parts. The first one presents a literature review of the 'extended resource-based theory' and our business model framework. The second one explains our research design. The third part details the findings about the inclusive business models in France. Finally, in the fourth part, we (re)define and discuss the characteristics of an inclusive business model.

THE INCLUSIVE BUSINESS MODEL WITHIN THE 'EXTENDED RESOURCE-BASED THEORY'

THE 'EXTENDED RESOURCE-BASED THEORY'

Following [START_REF] Weppe | Quand les postulats d'une théorie induisent de mauvaises pratiques » La 'théorie des ressources' selon J. B. Barney[END_REF]2013), [START_REF] Warnier | Extending Resource-Based Theory: Considering strategic, ordinary and junk resources[END_REF] extend the resource-based theory by suggesting on the one hand, a new typology of resources including "strategic" ones, "ordinary" ones, and "negatively-perceived"-or "junk"resources (Table 1).

Table 1: Three types of resources

Strategic resource

« A rare resource on the market, generally perceived as positive in terms of performance, i.e. with an expected level of productivity that is greater than its cost (acquisition or development). Such a resource is considered a potentiel source of rents »

Ordinary resource

« A common resource on the market, generally perceived as neutral in terms of performance, i.e. with an expected level of productivity equivalent to its cost (acquisition or development). Such a resource is considered, at best, as ensuring competitive parity » Junk resource « A resource overlooked or ignored by firms (i.e. not highly valuated on the market), generally perceived as negative in terms of performance, i.e. with an expected level of productivity lower than its cost (acquisition or development). Such a resource is considered as a source of costs or as destroying value by the firm that possesses it » Source: [START_REF] Warnier | Extending Resource-Based Theory: Considering strategic, ordinary and junk resources[END_REF]Warnier et al. ( : 1368Warnier et al. ( -1371) ) On the other hand, they propose a representation of the process by which, a creative entrepreneur who identifies a new use, valorizes an under-evaluated resource on the market (Figure 1).

Figure 1: The extended resource-based theory

Source: [START_REF] Warnier | Extending Resource-Based Theory: Considering strategic, ordinary and junk resources[END_REF]Warnier et al. ( : 1367) ) They insist about the subjective and intersubjective perception in terms of performance, which constitutes the basis of this typology and its categorization, by respectively actors and markets. In their discussion they evoke the potential of this extended resource-based theory to analyze organizations which deliberately employ people (as human resources) that are excluded from the workplace.

Entrepreneur level Organization level

Intersubjectivity Subjectivity Actualisation

-Strategic Resource -Ordinary Resource -Junk Resource

Pricing process

Evaluation of the resource Actions on the resource (business model)

Decision process Resources-related process

Level of performance

Industry level

Furthermore, this extension on resources consideration "raises new questions, echoing the recent work on resource management [START_REF] Sirmon | Managing firm resources in dynamic environments to create value: looking inside the black box[END_REF](Sirmon et al., , 2010) ) and business models from a resource point-of-view [START_REF] Demil | Business Model Evolution: In Search of Dynamic Consistency[END_REF])" [START_REF] Warnier | Extending Resource-Based Theory: Considering strategic, ordinary and junk resources[END_REF](Warnier et al., : 1375)). The recent development of research works on the 'extended resource-based theory' tends to confirm this echo. On the one hand, [START_REF] Fréry | Competing with ordinary resources[END_REF] compare business models focused on strategic resources, with business models focused on ordinary resources. They show how ordinary resource-based business models are changing the established rules in many industries through an Internet collaborative platform. On the second hand, [START_REF] Ranjatoelina | Inclure des Ressources Délaissées. Le groupe Vitamine T, un spécialiste de l'insertion[END_REF] highlight the resources' inherent orchestration-capability [START_REF] Sirmon | Resource orchestration to create competitive advantage breadth, depth, and life cycle effects[END_REF] in the deliberated inclusion of "wasted resources" [START_REF] Morrow | American Negroes -a Wasted Resource[END_REF]. THE INCLUSION OF "WASTED HUMAN RESOURCES" [START_REF] Warnier | Extending Resource-Based Theory: Considering strategic, ordinary and junk resources[END_REF] define as a "junk" resource, "a resource overlooked or ignored by firms (i.e. not highly valuated on the market), generally perceived as negative in terms of performance, i.e. with an expected level of productivity lower to its cost (acquisition or development). Such a resource is considered as a source of costs or as destroying value by the firm that possesses it" (p.1371). [START_REF] Ranjatoelina | Inclure des Ressources Délaissées. Le groupe Vitamine T, un spécialiste de l'insertion[END_REF] explore the inclusion of these "negatively-perceived" human resources -oriented by the French public service for employment due to their "low-employability"in a famous WISE. They demonstrate the implication of six key resources and competences -among which some seem strategic-in the orchestration-capability developed by this inclusive social enterprise, occurring at every strategic level of the organization (Table 2). to achieve various kinds of differentiation from its competitors (by product or price, etc.), while its business system is a system designed to realize that strategic intent" (Itami & Nishino, 2010: 364). We argue that the "strategic intent" concept [START_REF] Hamel | Strategic Intent. To revitalize corporate performance, we need a whole new model of strategy[END_REF] (and accessorily intentionally-related notions) mobilization appears obvious in order to Chambre Régionale de l'Economie Sociale et Solidaire Hauts-de-France (CRESS) 7 . Our methodology is composed of four stages of investigation (Table 3). Although this research question is abductive, we try to represent linearly our qualitative investigation design (Figure 2) to build a theoretical definition from a multiple cases study: "the process of building theory from case study research is a strikingly iterative one. While an investigator may focus on one part of the process at a time, the process itself involves constant iteration backward and forward between steps. For example, an investigator may move from cross-case comparison, back to redefinition of the research question, and out the field to gather evidence on an additional case" (Eisenhardt, 1989: 546).

7

Hauts-de-France 'regional chamber of social and solitary economy' 2013a, 2013b). FACE federates a more than 5.000-companies network, committed to act 4). To manage its social performance, the key indicators for Vitamine T and its belonging sector -i.e. the "temporary work integration sector" 9 -, is the post-inclusion "dynamic pursuit rate" 10 of the included human resources. It implies the constraint for every temporaryinclusive enterprise to maintain the stability of the economic activity, despite the constant renewal of the majority of the human resources. This organization appears specific to temporary-inclusive business models. It suggests as well that the work-integration sector contributes, at the macro level, to relieve job market by actualizing the skills of wasted human resources. Thus, to maintain both economic and social performance, the business portfolio and its dynamics from its foundation -i.e. the organizational entrepreneurial capability-, appears to be a Vitamine T differentiating advantage. Effectively, since 1978, Vitamine T has launched alone or in partnership eighteen activities, has acquired two, and has known four cessations and three resales (Table 5). These dynamics and the implicated six key resources and competences -identified by [START_REF] Ranjatoelina | Inclure des Ressources Délaissées. Le groupe Vitamine T, un spécialiste de l'insertion[END_REF]-, give to Vitamine T the ability to include its target human resources in activities which are in coherence with the job market needs. Indeed, to reach the social objectives -in terms of 'dynamic pursuit rate'the permanent portfolio adaptation to activities and industries, which recruit today and tomorrow, appears within this form of work integration to be a key success factor.

APF Entreprises

APF Entreprises is the first group of inclusive social enterprises in the French adapted sector.

It sustainably employs 3.200 people in situation of disability, on about 3.900 total employees.

APF Entreprises manages and assists the business development of its 53 social enterprises, 24

ESAT and 29 EA, and its unique shareholder is APF. Since 2005 in France, every more-than-20-employees-company has the legal obligation to disabled workers' employment up to 6% of its workforce. Up to half of that quota, companies can buy goods and/or services from EA or ESAT, purchases to the adapted sector being considered under law as indirect employment of disabled workers. In an EA as in an ESAT, more than 80 % of the workforce is (individually) in a situation of disability. These two kinds of inclusive social enterprise share the same aim but differ on their respective targeted human resources and on their respective (internal and external) organization. Indeed, the situation of disability is testified by the RQTH 11 , delivered by the CDAPH 12 of the MDPH 13 . The CDAPH also statutes on the level of disability of the person and orientates towards ESAT those who the commission believes that they would difficultly reach the requirements of the job market. Because, while the EA is a "traditional" social enterprise -with traditional employment contracts-, the ESAT is a hybrid organization combining inclusive-social-enterprise activities, cares and eventually medical 11 Reconnaissance de la qualité de travailleur en situation de handicap : "Recognition of disabled worker" 12 Commission des droits et de l'autonomie des personnes en situation de handicap : "Rights and autonomy commission of people with disability" 13 Maison départementale des personnes en situation de handicap : "Departmental house of disabled people" services, in which the targeted human resource is considered as worker but not as employee.

In an ESAT, even if disabled workers received a remuneration in exchange of their work contribution to the value creation, they sign a "user contract" -governed by the Code for Social Action and Families and not the Labor Code, and for a period of one or two years renewable and generally renewed-and constitute in this way, the principal beneficiaries of the model. Although field actors consider EA and ESAT as a single sector -the adapted (and sheltered) sector-, the nuances between ESAT and EA suggest that each one corresponds to a specific business model. It is the reason why, after the strategic intent of APF Entrepriseswhich is common to APF's EA and ESATwe present in this section, as one, the general results of the ESAT and EA business systems, insisting on their distinguishing nuances.

Property of a non-profit organization, in addition to being inclusive, the entrepreneurial and strategic intent of APF Entreprises is necessarily social (as Vitamine T's one). Indeed, APF is one of the main associations in France with 25.377 members, 13.572 employees, about 25.000 volunteers, and the main in the domain of social inclusion of people in a situation of disability. The APF associative project for the period 2012-2017 is entitled: "Move the Lines! For an Inclusive Society" 14 . In this way, the social mission of APF Entreprises -which in reality is a department of APF headquarter-is to include on a long term perspective, workers in a situation of disability through one of the 24 ESAT or 25 EA, and their respective APF Entreprises department and some subsidiaries, and also with competitors, sustain the group's development and lead to new synergies, ensuring both economic and social activities.

One of the economic objectives included in the new strategic intent is also to reduce the dependency to subsidy revenues, to anticipate its probable reduction. Within more than three decades of existence, the year 2015 is the first with a positive net result, showing that this actualized strategic intent of APF is already bearing fruit for APF Entreprises.

The large majority -80% minimum-of both models human resources is composed by recognized disabled workers, i.e. they have a RQTH. In France, the unemployment rate of workers in a situation of disability is more than twice higher -22%than the general unemployment of the total population -10,2%-, and the average period of unemployment is longer by 206 days for disabled people -799 days-than the entire population -593 days-15 . These numbers and facts highlight the "wasted" character of workers with disability as a human resource on the employment market. Generally, due to CDAPH's perception, the level of disability is higher among ESAT's beneficiaries than among EA's employees, making them appear even more "wasted". To include their target human resources, the six key resources and competences can be found here with some nuances. On the one hand, APF Entreprises' governance is hybrid, the group develops and sustains partnerships and collaboration, and every EA or ESAT manages its own activity portfolio. On the other hand, Founded in 2003 by two associates (now three in number), whose one is in a situation of disability (blindness), Ethik Investment's entrepreneurial and strategic intent is defined by its General Manager as "doing business differently" and "repositioning French society regard".

APF
Indeed, while one company out of five does not employ any disabled worker, and while the disabled workers' direct employment rate is 3,3% (when the law requires 6% since 2005) in

France, half of Ehtik Investment's human resources, and a third of its associates are in a situation of disability. Ethik Investment' subsidiaries simultaneously make for-profit business and include recognized disabled workers. This intent differentiates the group particularly from every market-competitors, from the adapted sector, appearing to be the basis of the group's social innovation.

Half of the global human resources is recognized as disabled workers. Indeed, they individually have a RQTH as the more-than-80-per-cent EA's employees. In term of disability, the majority of Ethik Investments's employees is composed by blind or partially sighted persons. To include its disabled workers, the group seems to have developed key resources and competences. Governance appears to be (classic but) inclusive. Indeed, groups of companies which have a blind person among their associates and for General Manager are very rare. The partnerships and managers' managerial social capital, sustain the development of co-innovations, principally in the field of events and training as we'll see after. The "Dans le Noir?" trademark, its experiential concept, and the inclusive-activities business portfolio of the group appears to be sources of synergies and even innovations. With the experience acquired through the restaurants and the event activity, a careful thought around the wellness sector conducted to the creation of a first spa in Paris and a second franchised one in Bordeaux, in 2011. From centuries, elsewhere in the world and mostly in Asia, the wellness and with Le CNAM's professional license degree in analysis and design of information and decision systems, and its engineering degree in information systems. The job and managerial coaching of disabled employees and services providers appears to be adapted and focused on their abilities and competences. Associated to the event activity's resources and competences it reverses positively the public's perception about employing disabled workers.

As we have just seen, the internal and external organization of Ethik Investment's activities are based on disabled workers' abilities and competences. Indeed, the organization is internally oriented to improve their competences on activities, and externally oriented to move the regard of the society through the business models' value propositions.

The value propositions of the group are addressed in a way to three stakeholders. The first kind is a goods and/or services' proposition to clients and customers. These value propositions are related to each activity or they can follow some synergies, like for example, the "spackage" which includes for two persons: a duo massage and a mixed steam room session at the wellness center, and then a head-to-head meal at the restaurant. The second kind of value propositions is (direct or indirect) an employment proposition to disabled employees and services providers. Functions and contracts of disabled workers are classic ones. The third kind is a social innovation proposition to society. However, no group revenue comes from public subsidies (as opposed to social enterprises benefiting from "employment aid" 18 ). The financial independence allows to sustain the development of innovative inclusive business models and projects. For example, since 2014, through Ethik Connection's partnership with the Fondation Malakoff Médéric Handicap, the group has also piloted a project to improve employment's access and retention for workers with autism in France and more particularly workers with Asperger autism.

DEFINING AND DISCUSSING THE INCLUSIVE BUSINESS MODELS BY ITS STRATEGIC INTENT

DISCUSSING THE RESULTS

In this communication we sustain that inclusive business models concern not only the developing countries and not only organizations involved against poverty. Our 'in- This exploration highlights distinctions and nuances between the categories ("segments"?) of people targeted as "beneficiaries" by these various kinds of enterprises. It shows that in developed countries, existing major inclusive enterprises are more focused on excluded workers' employment than directly on poverty reduction. In this way, the inclusive business models appear to be addressed to the poor people but also to other categories of disenfranchised people [START_REF] Halme | Innovation for Inclusive Business: Intrapreneurial Bricolage in Multination Corporations[END_REF] which we holistically considerate to be (individually) in a situation of social exclusion or vulnerability. Indeed, poverty can be seen as a form of economic exclusion -leading in the quasi-totality of the cases to a situation of social exclusion-. Our results confirm that on the job market all those excluded workers' have a common characteristic, they are "wasted" human resources i.e. their job applications are constantly rejected because of the presumption of negative performance that recruiters have about them.

Our results, specially Ethik Investment's ones, also allow us to discuss the six key resources and competences to include wasted human resources [START_REF] Ranjatoelina | Inclure des Ressources Délaissées. Le groupe Vitamine T, un spécialiste de l'insertion[END_REF]. First, the governance of the Ethik Investment group is not hybrid but his entrepreneurial and strategic intent is inclusive. Its social innovation lies in the exclusive business character of its revenues.

It suggests to replace the "hybrid governance" by an inclusive entrepreneurial and strategic governance (maybe social), as the first key resource and competence of an inclusive business model. Partnerships and leadership's "managerial social capital", the inclusive-activities portfolio, some entrepreneurial and business skills, are found in the three cases. Therefore, these three key resources and competence of inclusive business model remain unchanged.

Concerning the fifth key resource and competence, the results of Ethik Investment's case lead to focus not only on the training of human resources initially neglected the market, but also on the awareness of the general public and society of human resources "wasted" nowadays.

Finally, the sixth key resource and competence of an inclusive business model can also be amended, following our results: job coaching and individualized management based on initially-wasted-human-resources' abilities, competencies, and projections.

The SI-RCOV business model framework, elaborated and proposed in this research, extends the RCOV model [START_REF] Demil | Business Model Evolution: In Search of Dynamic Consistency[END_REF], 2015). The results reveal the methodological potential of the SI-RCOV framework to frame not only social and/or inclusive enterprises' business models, but every static or dynamic business model(s) analysis. Articulating two levels -the strategic intent of the model and its realization-, it contributes to [START_REF] Itami | Killing Two Birds with One Stone: Profit for Now and Learning for the Future[END_REF] business model definition and conception. Indeed, following [START_REF] Itami | Killing Two Birds with One Stone: Profit for Now and Learning for the Future[END_REF] we insist on the central role of (entrepreneurial and) strategic intent in the business model. Moreover, this centrality of strategic intent and its direction in favor of people excluded from the markets, directly refer to C.K. Prahalad's work [START_REF] Hamel | Strategic Intent. To revitalize corporate performance, we need a whole new model of strategy[END_REF][START_REF] Eisenhardt | Building Theories from Case Study Research[END_REF][START_REF] Prahalad | The Fortune at the Bottom of the Pyramid[END_REF][START_REF] Prahalad | Serving the World's Poor, Profitably[END_REF][START_REF] Prahalad | The fortune at the bottom of the pyramid: Eradicating poverty with profits[END_REF][START_REF] Prahalad | Bottom of the pyramid as a Source of Breakthrough Innovations[END_REF]. Defining theoretically the inclusive business model by its strategic intent in favor of wasted human resources also contributes to the 'extended resource-based theory' stream [START_REF] Warnier | Extending Resource-Based Theory: Considering strategic, ordinary and junk resources[END_REF][START_REF] Fréry | Competing with ordinary resources[END_REF][START_REF] Ranjatoelina | Inclure des Ressources Délaissées. Le groupe Vitamine T, un spécialiste de l'insertion[END_REF], which constitutes the first research focused on wasted resource-based business models. As we introduced it, our findings confirm the interest of this new prism -its theoretical anchorage and articulation-to renew strategic management's view upon social business models [START_REF] Yunus | Building Social Business Models: Lessons from the Grameen Experience[END_REF] and inclusive social enterprises [START_REF] Borzaga | The emergence of social enterprise[END_REF][START_REF] Nyssens | Social Enterprise. At the crossroads of market, public policies, and civil society[END_REF][START_REF] Defourny | Conceptions of Social Enterprise and Social Entrepreneurship in Europe and the United States: Convergences and Divergences[END_REF][START_REF] Gianfaldoni | Incentives, Procurement and Regulation of Work Integration Social Enterprises in France: old ideas for new firms?[END_REF]. Indeed, defining a business model by both its model of entrepreneurial and strategic intent, and its business system(s) appears particularly relevant to the exploration, the analysis and the development of business models which differentiate themselves by their social aim. In this way, this research tends to comfort the pertinence of considering within the business model prism, organizations and activities which deliberately create "not-only-economic" value [START_REF] Hart | Creating Sustainable Value[END_REF][START_REF] London | Creating mutual value: Lessons from ventures serving base of the pyramid producers[END_REF][START_REF] Porter | Creating Shared Value. How to reinvent Capitalismand unleash a wave of innovation and growth[END_REF].

IMPLICATIONS AND CONTRIBUTIONS

Regarding the inclusive business model within the 'extended resource-based theory', reveals and suggests both interesting implications and contributions. First, the use of a main strategic management theory should facilitate practitioners' appropriation equally in developing and developed countries. Indeed, the complete framework -including its theoretical definition and articulation-suggested in this research is likely to support the development of inclusive enterprises at the international level. It should also facilitate the development of strategicmanagement researchers' interest for inclusive enterprises -and especially social ones-. For instance, the 'extended resource-based theory' shed new lights on WISEs [START_REF] Borzaga | The emergence of social enterprise[END_REF][START_REF] Nyssens | Social Enterprise. At the crossroads of market, public policies, and civil society[END_REF][START_REF] Defourny | Conceptions of Social Enterprise and Social Entrepreneurship in Europe and the United States: Convergences and Divergences[END_REF][START_REF] Gianfaldoni | Incentives, Procurement and Regulation of Work Integration Social Enterprises in France: old ideas for new firms?[END_REF] models analysis [START_REF] Ranjatoelina | Inclure des Ressources Délaissées. Le groupe Vitamine T, un spécialiste de l'insertion[END_REF]. Secondly, even if the choice of the geographical investigation field could appear quite surprising, we argue that this empirical context points out some insightful implications for strategy and for society.

On the one hand, the 'extended resource-based theory' explains how an entrepreneur with an alternative strategic intent for a resource manages to create a performing organization.

  characterize and to essentialize the variety of existing inclusive enterprises in a unique definition and a unique conceptualization. Moreover, our empirical position tends to enhance the conceptual suggestion of the (extended) 'SI-RCOV framework' (Figure 2) -i.e. Strategic Intent; Resources and Competences; internal and external Organization; Value propositionsin order to frame our exploration of existing inclusive business models.

Figure

  Figure 2: The SI-RCOV framework

Figure

  Figure 3: A qualitative research design

FINDINGS

  Founded in 1978, Vitamine T is one of the most famous inclusive social enterprises in France -plus a leader of the work integration sector, of the social and solitary economy-achieving a turnover of 40 million euros and a consolidated net result of 1.6 million euros in 2013. Its unique shareholder is the non-profit association called Vitamine T. The entrepreneurial and strategic intent of its business models is to employ temporary people in a low-income and a long unemployment situation, within a 4 to 24 months' work-integration contract, to take them out of their individual social exclusion. Pôle Emploi -the French Employment Public service-relieves, to people who are looking for job for more than two years, an approval attesting this long unemployment situation and representing the pass for the incorporation of the person in the work integration social enterprise (SIAE). These target human resources represent 70% of Vitamine T's total employees -1.788 on 2.524 in 2013-. These people simultaneously participate to the value creation as they ensure their competences by learning one (or more) job within one (or more) of the 12 activities of Vitamine T's portfolio (Table

  sector is particularly inclusive in favor of blind and partially sighted persons thanks to their natural skills in touching and handling. So, very quickly, the added value on client experience brought by blind persons' competences and situation -blindness becomes here an asset because clients who could be reluctant to undress in sight of a person in a full ability to see are more inclined to do it in front of a blind person-, is recognized by the observers -the spa is ranked second best spa of Paris by the French magazine L'Expressand by competitors as a real competitive advantage (verbatim). Disabled employees' training and formation is societally strategic considering the low qualification of two third of them -66% of disabled workers left school before finishing high school-. Ethik Investment focuses on this thematic in various ways. For example, the spa activity acts like a sectorial training body by assuming disable persons' training -within a certificate of professional competence in esthetics developed with the Espace Beauté Thalgo International and the access for people with a reduced visual capacity to ISIPCA's professional license in analysis and application and its professional master degree in sensory formulation and evaluation-. In the same way in other sectors, the group co-develops training and certificates with academic partners: the first master in management initially developed for blind students, and then for all disabled students was launched within Kedge Business School in 2011; the technician certificate in insurance of the École Supérieure d'Assurances was made accessible for all disabled students in 2012; idem in 2013 with IRIS school's technician certificate in IT service to organizations,

  Those results lead us to suggest a (re)definition of what an inclusive business model is. DEFINING WHAT AN INCLUSIVE BUSINESS MODEL IS UNDP's definition of the inclusive business model is centered on poor people's inclusion. However, our results highlight that inclusive business models in developed countries are mostly focused on excluded workers' employment. The common points revealed by our three cases make the inclusive business models correspond to the business models based on a majority of wasted human resources. This focalization in favor of wasted human resources, can be explained as an inclusive strategic intent. So, to define conceptually what an inclusive business model is, our theoretical ground and the results of our multi-cases study forward us to suggest the following definition: "An Inclusive Business Model is a business model characterized by an inclusive entrepreneurial and strategic intent in favor of 'wasted'by the traditional markets, due to their situation of poverty, exclusion, and/or vulnerability-human beings. The business system(s) of such a business model realizes this differentiating inclusive intent i.e. by including these people as the predominant human resources of the value creation (employees, producers/providers, entrepreneurs) of one or more activities developed and organized within a coherent adaptation with their abilities, competences, and projections". This definition emphasizes a holistic perspective and refers to several scientific streams and concepts in strategic management.

  Nevertheless, it does not evoke the imitation and/or replication of a 'generic' business model which lead to the emergence of a new sector, a new industry. Two of our three cases have been founded more than 35 years ago and move towards particularly regulated sectors and environments with strong norms -it explains why they are characteristical but non representative of their respective sectors-. As leaders of their respective sectors, these two cases should contribute to enrich the 'extended resource-based theory' (Figure1) with a recursive phenomenon which highlights new sectors emergence -from the performing business model to a market-perceptions' actualization-i.e. corresponding to the collective response of the range of actors sharing the same strategic intent about an under-evaluated resource. Indeed, those sectors -the work-integration sector and the adapted sector-do not share the dominant perception and intent about wasted human resources on the job market.On the other hand, the very institutionalized context in France suggests an abundance of experimented initiatives -contingent certainly but-contributing, in terms of learning, to the global uprising of inclusive business models and to the reinvention of the global economic system[START_REF] Porter | Creating Shared Value. How to reinvent Capitalismand unleash a wave of innovation and growth[END_REF]. Indeed, generally inclusive rimes with universal. By analyzing this context, this research highlights three particularly inspiring enterprises for every actor aspiring to singularly do business differently.CONCLUSIONThis research focuses on a not enough-observed topic in the literature: the business model of enterprises which deliberately predominantly include wasted human resources on the employment market. It is based on the exploration of three diversified inclusive enterprises in France -Vitamine T, APF Entreprises, and Ethik Investment-, highlighting the nuances and distinctions, and the common characteristics of their respective business models. This highlighting suggests to (re)define the inclusive business model by its strategic intent in favor of wasted human resources. Managerial and societal implications of this research are of interest to many stakeholders (e.g. institutional actors, social entrepreneurs and entrepreneurs, social economy's managers, consultants, researchers and teachers). Its theoretical contributions strengthen the extend resource-based theory. However, the exclusive investigation of cases from a developed country suggests the relevance to extend this research by exploring inclusive business models in the context of a developing country. Such an exploration will allow us to overcome the limitations of this research by consolidating our design and studying the possible determinism of context about inclusive business models' configuration.

Table 2 : The key resources and competences implicated in 'wasted' resource inclusion Key Resources and Competences Strategic level

 2

	1. A hybrid governance
	2. Partnerships whereby leadership's « managerial social capital » and	Corporate
	external engagements seem to play a spreading and a non neglectable
	legitimation role
	3. A diversified activities-portfolio of inclusive business which generate
	synergies	Business
	4. An entrepreneurial capability based on the permanent actualization
	principle of the inclusive activities-portfolio
	5. A social and professional individualized coaching in which an included
	and permanent employees' association allows a significant improvement	Functional
	of « wasted » human resource's 'employability'
	6. A Training body which proposes adapted training contents
	Source: Ranjatoelina & Zaoual, 2016 (trad. by the author)
	Moreover, in reference to J.J. Morrow's advocacy for black American workers' inclusion in
	southern US enterprises, published in 1957 in the Harvard Business Review, Ranjatoelina and
	Zaoual (2016) suggest to replace the terms "junk resource" by "wasted resource", especially
	and obviously in the case of human resources. History shows us indeed, that the human
	resources concerned by Morrow's article, considered as negative at this time, in this space, are
	now ordinary ones. At the same time, in another space or cultural area the same resource
	shouldn't necessarily be perceived as "negative" -as Morrow shows us in its comparison
	between Southern and Northern US for example-. In this way, Ranjatoelina and Zaoual's
	(2016) reference to Morrow reveals the dynamical character of perception and its dependency
	to cultural areas.
	Thus, in an 'extended resource-based theory' perspective, as Fréry et al. (2015) define the
	platform business model as an ordinary resource-based one, we argue that the inclusive
	business model corresponds to "wasted" resource-based business model. Nevertheless, this
	deliberated focalization on "wasted resource" and the distinctive nuances between various
	existing kinds of inclusive enterprises (social or classic inter alia) tend to suggest the
	necessary development of a specific business model framework.

Prahalad's work -and particularly his last publication: "This shift in emphasis forces us to move from a product centric approach to a focus on business model innovation, of which the product is but a subset"

(Prahalad, 2012: 11)

-our conceptual business model framework suggests to combine the

[START_REF] Demil | Business Model Evolution: In Search of Dynamic Consistency[END_REF] 2015)

'RCOV framework' with

[START_REF] Itami | Killing Two Birds with One Stone: Profit for Now and Learning for the Future[END_REF]

business model definition: "a business model is composed of two elements, a business system and a profit model

[…]

. A firm's profit model is a model of its strategic intent

Table 3 : A four-year investigation

 3

	2013	2014	2015	2016
	T1 T2 T3 T4 T1 T2 T3 T4 T1 T2 T3 T4 T1 T2 T3 T4
	Partnership elaboration
	Definition of Research Question
	Literature review
	Empirical integration and presence
	Exploration and Data collecting
	Cases identification and selection
	Analysis
	Writing
	Discussion of intermediary productions

Source: the author

Table 4 : Vitamine T's business portfolio

 4

	Subsidiaries	Activities	Capital Repartition
	La Ferme des Jésuites	Gardening, maintenance of green	Vitamine T (100 %)
	Les Serres des Prés	spaces	Vitamine T (100 %)
	Inser'Croix	Pallets recycling, eco-friendly cleaning vehicles	Vitamine T (100 %)
	Soluval	Out-of-service vehicles recycling	Vitamine T (78 %) Macif (22 %)
	Envie 2e Nord	Electric, electronic, and home appliance recycling	Vitamine T (83 %) Van Gansewinkel (17 %)
	Envie Nord	Household appliances, furniture and second-hand items renovation and sale	Vitamine T (100 %)
	Janus	Temporary job placement	Vitamine T (66 %) Adecco (34 %)
	Médiapole	Social mediation	Vitamine T (100 %)
	Mobilille	Urban mobility services	Vitamine T (100 %)
	Solutis	Cleaning services	Vitamine T (100 %)
	Vitavert	Urban cleaning	Vitamine T (100 %)
	IF VT	Certified training body	Vitamine T (100 %)

Source: adapted from secondary data

Table 5 : Vitamine T's development: more than 35 years of social entrepreneurship

 5 Cleanauto with Norauto 1998 : minoritary participation of Adia France (Groupe Adecco) in Janus 2006 : creation of Envie 2 E Nord with Van Gansewinkel 2009 : creation of Soluval with La Macif 2010 : creation of La Part du Pain (Lille) with Paul (Groupe Holder)

	Internal	1978 : Réabat Bâtiment
	Development	1980 : Janus
		1983 : Vit'Imprim
		1986 : Art
		1987 : Inter
		1992 : Envie Hauts de France
		1996 : Vitacopier
		1998 : Le Bec à Plumes
		1999 : Vitavert
		2002 : Mediapole
		2002 : La Ferme des Jésuites
		2011 : Mobilille
		2013 : IFVT
	Development in partnership 1993 : creation of External 1990 : Les Serres des Près
	development	2008 : Envie Picardie by Envie Nord
	(acquisition)	2009 : L'Ucie Intérim by Janus
		2014 : Inser'Croix
	New business	2010 : Solutis at Paris-La Défense
	units	2011 : La Part du Pain at Ronchin
		2014 : Le Grenier d'Envie at Seclin
	Name change	2000 : Art becomes Solutis
		2000 : Vit'Imprim becomes Vit'Sérigraphie
		2007 : Réabat Bâtiment becomes Solubât
		2008 : Envie Hauts de France becomes Envie Nord
	Cession	2005 : Vitacopier
		2005 : Vit'Sérigraphie
		2013 : La Part du Pain (Lille)
	Cessation	2001 : Cleanauto
		2007 : Inter
		2012 : La Part du Pain (Ronchin)
		2012 : Le Bec à Plumes
		2013 : Solubât
		Source: secondary datas

  Entreprises competence consists more in operations, sales and business than in entrepreneurship; the social and professional individualized coaching -which correspond to EA's practicescan be extended to cares and eventually medicals in ESAT; and, APF's APF Formation department acts like an internal training body, but not reduced to APF Entreprises. and ESAT create simultaneously value propositions of three different natures, addressed to three kinds of stakeholders, at three levels. At a micro-level, the first value proposition of the EA or ESAT is an employment one to the individuals who are wasted on the employment market -it is particularly true in the ESAT where the disabled worker is considered as a beneficiary or a client-. At a meso-level, the nature of the second value proposition is consisted by products and services to clients and customers. The eight pole of skills and the two previous examples suggest the diversity, the variety of the APF Entreprises' value propositions to markets. And at a macro-level, EA and ESAT assume a general interest mission which could be seen as value proposition for the State and all the society. In this perspective, although APF Entreprises wishes to reduce its dependency to subsidies, revenues from Public services can be seen as the fair retribution of ESAT and EA' societal contribution. Ethik Management, consulting in coaching and training; and Ethik Image, consulting in strategy, communication and creation.

	Ethik Investment
	Ethik Investment is an inclusive (classic) company. A part of 50% its total human resources is
	in a situation of disability. It permanently employs about 80 persons and federates an
	approximatively 300 consultants-contributors network, and achieved a turnover of 5 million
	euros in 2013. The group operates in three BtoC activities with the brand "Dans le Noir?":
	restaurants (present in six countries: France, United-Kingdom, United States, Spain, Russia,
	and Kenya), wellness centers and spas, and shops. The concept is based on taking care of
	customers by employees with reduced visual capacity in a (total or partial) dark environment.

15 « Tableau de bord national. Emploi et chômage des personnes handicapées. France entière. Bilan du premier trimestre 2016 » ('National Scoreboard. Employment and unemployment of people with disability. Whole France. Results of the first 2016 quarter'). AGEFIPH Publications, N°2016-2, 2016, june 23th, 13p., available online : https://www.agefiph.fr/Actus-Publications/Publications-et-etudes EA Ethik Connection aggregates three BtoB activities: Ethik event, event and sensitization (exported in six countries: United-Kingdom, Poland, Thailand, Saudi Arabia, Switzerland, and Spain);

  partnership' action-research led to the selection, retention, and exploration of three cases of established enterprises -Vitamine T, APF Entreprises, and Ethik Investment-which include four major inclusive business models in France: the social business model which includes predominantly and in a long-term perspective recognized disabled workers who would difficultly reach job-market expectations (i.e. the ESAT); the social business model which includes predominantly and in a long-term perspective recognized disabled workers (i.e. the EA); the social business model which temporary predominantly includes workers unemployed for a long period (i.e. the SIAE); the business model which includes, in a classic way, for half, recognized disabled workers (i.e. the disability-inclusive company).

within a French public-private conventionalized PhD called a PhD-CIFRE, for "Industrial Convention for a Research Formation", as a researcher-consultant.

The'act against exclusion foundation' is the first companies' network involved in the development of CSR in France.

'physical disability France association'

Available online: https://www.youtube.com/user/APFhandicap. See also : https://www.youtube.com/watch?v=ejngUzaQ57c&list=PL9CC9068246E2EB94 and https://www.youtube.com/channel/UCBFObFrWX_OOpnCqDyFdUzw

« insertion par l'activité économique »

« taux de sorties dynamiques »

APF Formation seems more to emphasize the actualization of supervisors' competences rather than disabled workers' competences.

During the last three decades, APF Entreprises' organization has experienced a pendulum phenomenon from a centralized model to a territorial one and vice versa (verbatim). Since 2014, every EA and ESAT manages and develops its business portfolio activities according to market opportunities of their action perimeter. In terms of business, APF Entreprises segments its activities in eight poles of skills: communication products and services, administrative services, environment, logistic, electronic and electrical, mechanics and carpentry, other BtoB services, and APF Entreprises' products. Long-term market relations also lead to the development of innovative activities, business systems, and value proposals co-constructed on the specific local needs of customers become partners. For example, after analyzing -with KPMG-the next 5 to 10 years needs of its customers and prospects, APF's EA of Illkrich 16 is now the only Eastern-France company which develops electronic and electrical production on the same site. The specialization has allowed this EA to penetrate the market of radiofrequency and connected objects, thanks to a recent technological investment of 500,000 euro, and by creating four jobs. Its products not exhaustively include: cables used by Alstom to equip French regional trains, receivers of digital terrestrial television, remote controls, programming suitcases for home automation systems, trackers for scooters, and GPS maps for fixing on trolley supermarkets. Another example could be the APF's EA of Amiens 17 . Supported by Air France, the EA has invented a semi-automated process of reconditioning air-headphones, unique in the world. In 2016, Air France is the first customer for this business with a volume of 30,000 to 50,000 air-headphones from a total of 80,000 reconditioned headphones per day. 16 near to Strasbourg in the Bas-Rhin French department