Developing a Multidimensional Framework to Sustain the Agribusiness Value Chains: The Case of Parmigiano-Reggiano Cheese

Agribusiness is recognized as one of the most important sectors in the Italian economy, generating 4,3% of its Gross Domestic Product (GDP), and it is one of the most important sectors in terms of exports, generating 8,1% of annual Italian exports. It is recognized that the Italian agribusiness sector performed extremely well in the past decades, placing some of its most important products - pasta, olive oil, wine, and cheese, among others - as symbols of the Italian food culture worldwide. Crossing the seminal works by Davis and Goldberg (1957) and by Roy (1967) in defining the Agribusiness and by Porter in the Value Chain Analysis (1985; 2001), this paper focuses on the value chain of Parmigiano-Reggiano cheese - one of the main Italian agribusiness value chains and one of the most relevant symbols of the Italian food exports - with the aim to provide an original multidimensional strategic framework of analysis to support the main stakeholders (milk farmers, dairies, ripeners, traders, retailers, domestic and international consumers, regulatory entity (consortium), financial institutions, policy makers etc.) in advancing sustainable and regenerative Parmigiano-Reggiano cheese value chain. Firstly, the paper focuses on the relationship and interdependence of the major stakeholders in the value chain for the co-creation of value. The regulatory entity states what conditions the final product must have in order to be considered and be sold as Parmigiano-Reggiano DOP (Denominazione di Origine Protetta – Protected Denomination of Origin) cheese, that all members of the consortium must comply with. These conditions generate an interdependence among stakeholders and regulate its bargaining power within the Parmigiano-Reggiano cheese ecosystem. Secondly, the paper identifies the relevant Success Critical Factors (SCFs) of this value chain, and links the SCFs to the SWOT analysis (strengths, weaknesses, opportunities, and threats) for a deeper understanding of the whole value co-creation dynamic. In particular, the SWOT analysis enlightens the crucial role of digital platforms in leveraging quality, sustainability, and traceability in the value chain of Parmigiano Reggiano cheese. Concluding remarks provide suggestions for stakeholders, practitioners, policy makers and scholars to improve the strategic and economic performances of the Parmigiano-Reggiano value chain.