Creating shared value, both financially and socially, has recently become an imperative for corporations, for two reasons:
- The legitimacy of business has often been put into question, with companies seen as developing and prospering at the expense of community.
- At the same time, many of the world’s problems are impossible to be addressed without the expertise and scalable business models of the private sector. Examples around the world have demonstrated that for-profit organizations are able to pursue financial success in a way that also yields societal benefits.
However, businesses inevitably confront many challenges when pursuing shared value strategies as they don’t operate in isolation. Societal conditions, government policies, cultural norms are among a range of conditions that may impact the businesses efforts while being out of the control of any company. In other words, governments, NGOs, companies, and communities all have essential roles (...) Read more? Sign up for free