Share this page Nestl has grown from a company founded nearly 150 years ago on the success of a life-saving infant cereal to a global leader in Nutrition, Health and Wellness. As capitalism matures, it is companies' duties to break itself out of the traditional CSR by realizing its limitations and try to restructure and pursue new market strategies that value both economic and societal development. At SAGCOT, the long-term vision determined the sequence of investments and activities, starting with broad infrastructure improvements. [14], In contrast, they found a 2012 business review paper by Simanis,[25] who argued there was a flaw in this low-price, low-margin, high-volume strategy that MNCs have adopted and only works if two characteristics exist: the ability to leverage existing infrastructure that already serves wealthier customers; and consumers already know how to buy and use the product offering. Harvard Business Review, Jenkins, B., Ishikawa, E., Geaneotes, A., Baptista, P., and Masuoka, T. (2011). Yara focused its direct investment on port infrastructure and agro-dealer networksareas in which it had extensive knowledge from its activities in other parts of the world. Yet every company that pursues shared value in the face of inhospitable market conditions will encounter barriers in its ecosystem. Trust in business has fallen to new lows, leading government officials to set policies that undermine competitiveness and sap economic growth. Government policies present their own limitations, and cultural norms also influence demand. It currently has a 59% market share in China; its larger global competitors, Eli Lilly and Sanofi, have Chinese market shares of just 15% and 5%, respectively. Governments typically respond only to the most influential interests and may be paralyzed by partisan divides. The purpose of the corporation must be redefined as creating shared value, not just profit per se. In 2012, Kramer and Porter, with the help of the global not-for-profit advisory firm FSG,[3] founded the Shared Value Initiative to enhance knowledge sharing and practice surrounding creating shared value globally. Private- or public-sector intermediaries may be incapable of supplying basic infrastructure and services to end usersor those intermediaries may not even exist. No single intervention could prevail; success required that all the interrelated obstacles be addressed at once. There are numerous ways in which addressing societal concerns can yield productivity benefits to a firm. For example, as investments make possible the processing of new streams of recycled packaging material, the participating companies discuss how to foster markets that can get the material into packaging supply chainswhich requires a sophisticated understanding of quality and quantity specifications and of geographic and transportation constraints. Lets examine them in turn. In recent years business has been criticized as a major cause of social, environmental, and economic problems. The SVI engages in four major activities deepening and documenting knowledge, creating toolkits for implementation, building communities of practice via both physical and virtual engagement opportunities, and serving as a general steward of the concept of Share Value. csv = social value + economic value Creating shared value is addressing societal needs and challenges with a business model. In the process, companies will find economic opportunities that their competitors miss. We have long believed that our company can only be successful in the long term by creating value both for our shareholders and for society. Firms can do this in three distinct ways: by reconceiving products and markets, redefining productivity in the value chain, and building supportive industry clusters at the companys locations. Lucci[22] highlights two examples of this: They found Davis[17] arguing that the state and corporate sector need a "genuinely symbiotic relationship" which recognises the potential developmental activity that companies undertake as core operations, noting however that this rarely exists. Shared value creation focuses on identifying and expanding the connections between societal and economic progress. From the Magazine (JanuaryFebruary 2011), I'm a subscriber, but I don't have an HBR.org account. The backbone is an independent secretariatthe SAGCOT Centrewhose initial CEO was a former head of the Tanzania National Business Council and whose deputy CEO was an associate director of the World Economic Forum. [14], Researchers found little rigorous analysis into the impact of shared value mechanisms, with the majority of evidence existing as standalone case studies of mixed analytical rigour. [14], Through innovation in new technologies, operating methods, and management approaches a firm can improve society while increasing their productivity and profitability. Misaligned government policies or informal rules often perpetuate existing deficits, and ingrained behaviors and cultural norms may prevent the adoption of new solutions. [12], Critics, however, argue that Porter and Kramer seem to have "a very particular and limited understanding of CSR, one that neither reflects the academic debates of the past few decades nor captures most of today's CSR practices adequately. [44] The SVI also hosts the Global Shared Value Summit, an annual three-day gathering of over 200 leaders from the business, public, and not-for-profit sectors citation.[45]. Confirm your subscriber information and create a password. [14], They found authors that have promoted shared value provide case studies from US based Multinational Corporations (MNCs) that are explicitly pursuing shared value principles and that resource flows could be significant as GE are investing $6bn to improve health-care access through there 'Healthymagination' programme. [15], Outside these case studies, limited literature was found so the paper presented lessons learnt from shared value and interrelated business models to show how they developed and business strategies to engage with the bottom of the pyramid. It spent two years establishing its agenda, goals, and measurements. The traditional approach has been to run your business and think about its social impact as a separate set of considerations. [14], The researchers thought London et al. Isn't all value shared in some way? Examples include providing financial security, affordable housing, nutrition, public health, and environmental performance. In a 2013 video for the Huffington Post World Economic Forum, Porter said shared value is a logical progression from CSR because incomes are raised for everyone, not through charity and by a being a "good corporate citizen", but by "being a better capitalist it's a win-win". It is governed by an independent committee of experts in finance, the environment, recycling, supply chain, and municipal management. Group A consists of commercial businesses that sell products needed by the poor which possess a high development impact such as financial services. The greatest impediments to this promise of social and economic progress are the internal barriers that prevent companies from taking action. "last-mile grid utilities" through a combination of financing, technology and management innovations, mitigate normal constraints extend grid coverage to more distant and often lower-income neighbourhoods; "smallholder procurement" value chain upgrades through aggregation methods; "value for money housing" through a combination of facilitating mortgage financial and new housing products which are appropriate to the poor including support services, such as understanding training in the mortgage process; and, "e-transaction platforms" which can bring a range of new services (and therefore new markets) more conveniently and securely to the poor.". Creating Shared Value is the business model that allows corporations to become more successful by improving the welfare of their employees, customers, suppliers, community, and society. Reinforcing and expanding the concept of Creating Shared Value (CSV) will reshape capitalism and its relationship to society, and legitimize business again as a powerful force for positive change. IDS Practice Paper 9, April 2012", "Measuring Shared Value: How to Unlock Value by Linking Social and Business Results", "System redesign to creating shared value", "How to Develop Business and Fight Poverty. The capitalist system is under siege. [9] Whether it is an extended "new form of CSR" or "shared value", CSV is fundamentally different from the CSR activities of the past.[10]. Indian government support of ICICI Lombard's weather-based insurance and microfinance providers (through priority lending mechanisms). Our research suggests that they encounter three obstacles. Menghwar, P. S. and Daood, A. Companies need to think differently about customers, products, and markets and put shared value at the core of their business. However, leading companies have begun to realize that addressing the complex social problems at the root of market failures is often the only way to achieve their ambitious shared value strategies. The Tanzanian government ended its export ban, waived taxes on irrigation equipment, eliminated a crop tax, generated new land-use plans, and spent $211 million modernizing the port. The level of penetration in ICT can significantly lower transactions costs and link informal economies to more established markets. To realize that potential, collective impact requires a new kind of leadership, sometimes called system leadership. Five elements must be in place for a collective-impact effort to achieve its aims: (1) a common agenda, which helps align the players efforts and defines their commitment; (2) a shared measurement system; (3) mutually reinforcing activities; (4) constant communication, which builds trust and ensures mutual objectives; and (5) dedicated backbone support, delivered by a separate, independently funded staff, which builds public will, advances policy, and mobilizes resources. [7] Mark Kramer, the co-writer of Harvard Business Review article on Creating Shared Value,[8] states in his "Creating Shared Value" blog that the major difference is CSR is about responsibility, whereas CSV is about creating value. A Systematic Review of Evidence from Sub Saharan Africa, Technical Report, London, EPPI-Centre, Social Science Research Unit, University of London. Trust is a precondition for successful collaboration. And for CocoaAction, the national governments approve and help finance specific interventions; Mars, Nestl, and other chocolate manufacturers are leveraging decades worth of research on plant science and dissemination; Cargill, Olam, Barry Callebaut, and other cocoa processors and exporters are building the capacity of cooperatives; and the International Cocoa Initiative, CARE, and other NGOs are tackling child-labor monitoring systems. We apologize for the inconvenience. [37], Notwithstanding the limitations in the evidence base there have been a number of reports that have sought to capture and synthesise lessons from successful shared value and inclusive business ventures. They understand change management and the art of negotiation. Public sources have provided one-third of SAGCOTs funding; the rest comes from the participating private enterprises. A movement known as collective impact has facilitated successful collaborations in the social sector, and it can guide businesses in bringing together the various actors in their ecosystems to help remedy some of the worlds most urgent problems. There is never just one system leader; multiple individuals, representing different constituencies, lead together. They found little documentation outside success stories of influence elsewhere. One example of CSV comes from Microsoft: In 2020 . Why else would companies ignore the well-being of their customers, the depletion of natural resources vital to their businesses, the viability of suppliers, and the economic distress of the communities in which they produce and sell? [14], This can be achieved by strengthening 'inclusive business ecosystems' through "strategically engaging the networks of interconnected, interdependent players whose actions determine whether or not their inclusive business models will succeed." How to Create Shared Value Opportunities By reconceiving needs, products, & customers - Meeting societal needs through products - Serving unserved or underserved customers By redefining productivity in the value chain - Utilizing resources, energy, suppliers, logistics, and employees differently More about the value chain [5] Henning Meyer criticises use of the concept and sets out to extend it, noting that although ostensibly it concerns shared value, its focus is on internal business practices and it does not show how the pursuit of social value can be put into practice outside the individual firm. Two complementary frameworks companies were using promoting shared value were examined by the researchers: The researchers used the 2008 UNDP definition "create value by providing products and services to or sourcing from the poor, including the earned income strategies of non-governmental organisations" to describe 'Inclusive business models' as an umbrella term for a range of models. It's a game-changing shift from Corporate Social Responsibility and the traditional mindset that business can either do good or make a profit, to a model that can improve the world. International aid temporarily alleviated hunger but left the underlying issues untouched. Creating shared value: A systematic review, synthesis and integrative perspective. In addition to these considerable assets, businesses whose growth and resilience are constrained by societal problems have a powerful motive to kick-start social change. How to reinvent capitalismand unleash a wave of innovation and growth. But despite the free-ride opportunity, companies that create shared value often enjoy a sustained advantage. ", "Measuring the 'Inclusivity' of Inclusive Business. Again like Yara, Walmart neither led nor controlled its cross-sector effortbut it provided the necessary impetus. Porter, Michael E. & Kramer Mark R., (2011, JanuaryFebruary). Inclusive business models can be found in a wide variety of companies, while shared value literature has so tended to be focused on MNCs, and as noted in relation to Hindustan Unilever, a number of business models could be described as consistent with shared value and inclusive business. Yara was decisive in launching the effort but did not lead or control it. Group B are companies that impact the poor in the normal course of their activities but take deliberate action to expand and improve this impact, for example, mining companies that improve their local value chains. By drawing attention to the way society impinges on business (rather than only business on society) it provides justification for solving society's problems as a core business strategy. It already has an acronym, CSV, and it's in fact a powerful concept for companies to use. They found Simanis theorised these characteristics were often missing with him concluding that "because the high costs of doing business among the very poor demand a high contribution per transaction, companies must embrace the reality that high margins aren't just a top-of-the-pyramid phenomenon; they're also a necessity for ensuring sustainable businesses at the bottom of the pyramid. Society benefits because employee and their familiesbecome healthier, and the firm minimizes employee absences and lost productivity. Governments, NGOs, companies, and community members all have essential roles to play, yet they work more often in opposition than in alignment. Shared Value. [14], They found other major obstacles included poor infrastructure and lack of qualified labour with the UNDP[20] also identifying further obstacles including a hard-to-reach customer base, suppliers with limited capabilities, limited market information and inadequate regulation. Collective impact helps companies spot opportunities their competitors miss. Shared value holds the key to unlocking the next wave of business innovation and growth. They say a more direct influence, consistent with moves in inclusive business, is companies pursuing shared value developed new types of relationships with other organisations like NGOs. Aid agencies financed roadwork and facilitated farmer co-ops. Finally, The Economist questions whether CSV is "merely a pious hope" without any tangible improvement on the current way of doing business. Just as companies should not lead or control a collective-impact effort, they should not try to impose an agenda. ", "Literature review: seminal papers on Shared value", "Post-2015 Millennium development Goals: What role for business? CSV is a transition and expansion from the concept of CSR. System leadership requires persistence and the ability to listen deeply and see reality through the eyes of other stakeholders. [14], More extensively the literature is from development organisations focusing on case studies into the interrelated area of business ventures at the bottom of the pyramid or inclusive business strategies/models. The value created at each level can flow between them, reinforcing and amplifying the value created at other levels. [14], London et al. [4]:467. Porter, Michael, (2011). Better roads and a more efficient port had to precede investments in refrigerated transport and increased yields. Although it lends to municipalities and private companies at below-market interest rates, it insists that every proposal demonstrate the potential for commercially viable returns so that the model can eventually be scaled up through conventional capital markets. They aim their strategies at achieving social outcomes that mesh with public priorities, such as the UNs Sustainable Development Goals. [4] In this article, they further refine three characteristics of creating shared value and define CSV as "a strategic process through which corporations can solve a social problem which is relevant to its value chain while making economic profits". The researchers found consistencies with an IFC report that a number of its successful models were 'whole pyramid' models, with the 'bottom of the pyramid' segments part of a broader market, allowing companies to leverage existing infrastructure, achieve economies of scale, cross subsidise and manage risk. [14], They conclude the initial stage of the research by identifying that a number of strategies companies have used to strengthen these eco-systems including the bottom of the pyramid awareness-raising and capacity building within the company, research, information-sharing and public policy dialogue. "complementary strategies" that aim to enhance the overall environment for such models to flourish, for example by shaping public policy or up-skilling workers. With the advent of CSV and following strong worldwide advocacy for it, companies started to overthink about their vision for their sustainable growth. [2] Written by Michael E. Porter, a leading authority on competitive strategy and head of the Institute for Strategy and Competitiveness at Harvard Business School, and Mark R. Kramer, of the Kennedy School at Harvard University and co-founder of FSG,[3] the article provides insights and relevant examples of companies that have developed deep links between their business strategies and corporate social responsibility (CSR). Counterfactuals of non SV approaches in case studies were not offered and tools and strategies to integrate, operationalise and measure shared value are only now being developed. 89 Issue 1/2, p62-77, 16p", "Creating shared value: A systematic review, synthesis and integrative perspective", "Creating Shared Value: The One-Trick Pony Approach", "Gieseke, Tim (2011). () Instead of dealing with a contemporary understanding of CSR, corporate social responsibility seems to be used instead as a straw man to rhetorically justify the authors' contribution and its proclaimed originality. It funded medical research and a widespread media campaign to combat the social stigma associated with the disease. FSG also provides measurement services . Corporate policies and practices that enhance the competitive advantage and profitability of the company while simultaneously advancing social and economic conditions in the communities in which it sells and operates. The graphic depicts some areas where connections are strongest. Nor was the companys investment$60 milliona major part of the funding. Ultimately, it's a strategy for developing the. Who benefits from shared value? But corporate executives often lack the courage and the vision to wade into the social sector, engage openly with civil society, understand the business case, and pursue a longer-term strategy in cooperation with others. Few NGOs have the resources and the clout to command attention from governments and global corporations, whose involvement is essential. No company operates in isolation; each exists in an ecosystem where societal conditions may curtail its markets and restrict the productivity of its suppliers and distributors. Participants must reach a shared vision for change and a joint approach to a solution. "The Big Idea: Creating Shared Value, Rethinking Capitalism". [14], The researchers identified a number of constraints for companies attempting to create shared value. Shared value was created. [11] Such development of stages by redefining CSR has laid theoretical foundations for companies and society to sustainably and communally overcome societal issues. Fertilizer had the potential to increase crop yields in the famine-afflicted country. What is shared value? Pfitzer, M., Bockstette, V. and Stamp, M., Davis, P. (2012) Let Business do Business: The Role of the Corporate Sector in International development. "CSR vs. CSV: What's the Difference? Yet the project has boosted Yaras sales in the region by 50% and increased the companys EBITDA by 42%. This ensures long-term success by intrinsically placing societal issues at . After all, theyre in the self-interested pursuit of profit. Businesses bring essential assets to collective-impact efforts. Capitalising on these connections is good for business and society In brief Shared value's biggest champion is Michael Porter, one of the world's most distinguished strategy gurus Five elements must be in place for a collectiveimpact effort to achieve its aim of large-scale social change: a common agenda, a shared measurement system, mutually reinforcing activities, constant communication, and dedicated backbone support from one or more independent organizations. "Shared value recognizes that the health of any business is inextricably linked to the long-term prosperity of its clients and communities.Through applying a shared value lens, companies can . The Creating Shared Value (CSV) concept focuses on "policies and operating practices that enhance the competitiveness of a company while simultaneously advancing social and economic conditions in the communities in which it operates" (Porter and Kramer 2011, p. 6). A version of this article appeared in the. Nestl, for example, redesigned its coffee procurement processes, working intensively with small farmers in impoverished areas who were trapped in a cycle of low productivity, poor quality, and environmental degradation. FSG offers a range of shared value services to companies, from targeted efforts to address specific questions about how a company can create shared value to in-depth multi-year engagements that accompany clients from early-stage vision through implementation to realize business opportunities. Walmart CEO Doug McMillon played an instrumental role in the funds launch: He asked his counterparts in major companies, including Procter & Gamble, PepsiCo, Unilever, Johnson & Johnson, Keurig Green Mountain, and Coca-Cola, to publicly commit to involvement. Unfortunately, that means we have to temporarily suspend subscriber syncing. Yara, a global leader in fertilizer sales, faced numerous obstacles in its effort to reach African smallholder farmers from its port of entry in Tanzania. Gradl, C. and Jenkins, B. A companys choice of the right internal champion for system leadership is critical both to bringing the company to action and to keeping the other partners focused on the common agenda. If companies do not accurately assess the business case for such projects, they will miss the justification for investing the required funding and management attention, which may greatly exceed those of normal philanthropic or CSR projects. [14], They call for future research to go a step further and attempt to establish the linkages between pursuing core business model and the subsequent impact on both business and social indicators for example, compared to a counterfactual of a non-core business approach. To help coordinate the initiative, it drew on its experience with global agricultural markets and its work in Tanzania and other African countries in conjunction with the UN Millennium Projects Hunger Task Force and the Tanzanian Agricultural Partnership. In the past, companies rarely perceived themselves as agents of social change. Nestl provided advice on farming practices; helped growers secure plant stock, fertilizers, and pesticides; and began directly paying them a premium for better beans. The first step, as for SAGCOT, was recognizing the systemic challenges faced by farmers who operate at subsistence levels and were unable to invest in yield-enhancing innovations or in the community health and education practices needed for successful farming. Societal constraints are not limited to emerging markets, of course. And, as we have said, they do not lead in any conventional sense; the participants collectively determine the agenda and the actions to be taken. Together, 10 companies invested in the $100 million Closed Loop Fund, whose purpose is to catalyze investments in recycling infrastructure across the United States. Up to 90% of the ecological footprint in food processing can be attributed to land management activities outside the control of corporations. "[14], The first can in part be viewed as the earlier framework of inclusive business models, which aimed to target low-income consumers through product innovation, such as the example mentioned above of Unilever Hindustan marketing products in more appropriate packaging[23][24] which relied on a high return of capital employed, often through shared access services, and a low cost, high volume strategy. Participants must agree on a single short list of indicators that determine how success will be measured and reported. They can, however, provide funding to launch it, technology support for online communication, and mentoring or coaching, in some cases introducing Six Sigma and other continuous improvement processes. They found Davis commenting in 2012[17] about how the corporate sector is highly non-uniform and Caroline Ashley's 2009 paper, "Harnessing core business for development impact"[18] illustrating four inclusive business models with different value propositions and the variation in size of inclusive business models:[14], The researchers found that while much of the literature on shared value concentrates on MNCs, the focus in developing countries is on a range of different company types. For example, the provision of low-cost cell phones developed new market opportunities as well as new services for the poor. Local communities affected by the problem must be included and empowered, and any data analysis or proposed actions must account for their perspectives. For example, in reducing excess packing in product distribution reducing cost and environmental degradation. What is Shared Value Creating Shared Value: Competitive Advantage through Social Impact Watch on Changing the Way Business is Done How to reinvent capitalismand unleash a wave of innovation and growth. If you are using the configurable token lifetime feature currently in public preview, please note that we don't support creating two different policies for the same user or app combination: one with this feature and another one with configurable token lifetime feature. Whereas CSR focuses on reputation with placing value in doing good by societal pressure, it generates both economic and societal benefits relative to cost in real competition of maximizing the profits. Take Novo Nordisk, the worlds leading provider of insulin to manage diabetes. [6] This ecocommerce shared value process accounts for and includes positive [environmental] externalities within the economic system. Creating shared value entails embedding a social mission in the corporate culture and channeling resources to the development of innovations that can help solve social problems. [14], To boost innovation and competitive advantage they say companies need to make CSR part of their core business strategy and researchers saw this as development of Porter's 1985 'Competitive Advantage' work where firms' activities were redefined through their value chains to boost competitive advantage through cost improvements or differentiation. In October 2014, 18 months after the initial impetus, the fund closed its first round of financing and began issuing requests for proposals. Collective-impact efforts have made significant progress on issues as diverse as education, homelessness, juvenile justice, substance abuse, childhood obesity, job creation, and pollution. Such cross-sector experience is essential among system leaders and enables them to speak the language and appreciate the motivations of each sector. Created by William Lever in 1894 to combat cholera in Victorian England, Lifebuoy is the worlds #1 selling germ protection soapa win-win for Unilever and global health. And MasterCard has brought mobile-banking technology to more than 200 million people in developing countries who previously lacked access to financial services. [47] Despite CSV theory is related to the diamond mode which has four endogenous variables, Porter and Kramer (2011) presented three distinctive steps to CSV; (1) reconceiving products and markets, (2) redefining productivity in the value chain, and (3) enabling local cluster development. "Creating Shared Value". Companies must sometimes team up with governments, NGOs, and even rivals to capture the economic benefits of social progress. And he was instrumental in helping McMillon secure public commitments from the CEOs and presidents of other corporations. We have sought to build our business approach on decisions that are not just good for us and our shareholders, but for society and the planet as well. Some of todays most successful companies are aligning their strategic positioning with shared value principles. A separate, independently funded staff dedicated to the initiativethe backbone of the projectis needed to guide vision and strategy, support activities, establish shared measurement practices, build public will, advance policy, and mobilize resources. [14], They found Hills, et al. Yet the connection between social progress and business success is increasingly clear. Each exists within an ecosystem where societal conditions may curtail markets and restrict productivity. [14], Porter et al. Enable local cluster development by improving the external framework that supports the company's operations, for example by developing the skills of suppliers. This move of focus away from the firm level, similar to market development approaches, such as Making Markets Work for the Poor (M4P). [14], As inclusive business model products are often entering new markets they tend to be push based requiring high levels of awareness-building and education, unlike pull categories that customers already desire, like low cost cell phones[21], They found Lucci's 2012 paper "Post-2015 Millennium Development Goals: What role for business? Walmart used the CEOs bully pulpit at its 2014 Sustainable Product Expo in Bentonville, Arkansas, to enlist its suppliers in the Closed Loop Fund. Endeva, Berlin", "Shared Value in Emerging Markets: How Multinational Corporations Are Redefining Business Strategies to Reach Poor or Vulnerable Populations", "Press Releases - President Clinton Hosts President Barack Obama, Egyptian President Mohamed Morsi, and Governor Mitt Romney on Closing Day of 2012 Clinton Global Initiative Annual Meeting - Clinton Global Initiative", Creating Shared Value (CSV): Operationalising CSV Beyond The Firm, University of Cambridge Centre for Business Research, Institute for Strategy and Competitiveness at Harvard Business School, https://en.wikipedia.org/w/index.php?title=Creating_shared_value&oldid=1151784540. [48], Thomas Beschorner regards the CSV concept, based on "several terminological and conceptual misunderstandings", as a "one-trick pony approach" with little chance that an increasingly critical civil society will buy into such a story. Thanks to the program's success, CMS will enroll all individuals with Traditional Medicare in an accountable care partnership by 2030. London, T. (2009) Making Better Investments at the Base of the Pyramid, Harvard Business Review, 87 (5): 106-113, Ashley, C. (2009b) Returns on investment in responsible business practice: higher in a downturn? These factors keep many companies from even contemplating an effort to alter the external context. They recognize the importance of a broader market ecosystem, but research has focused on the ecosystem of competition or of coopetition among related companies rather than on the social factors that affect markets. Before engaging in a collective-impact effort, each participant has typically viewed the problem at hand solely from its own perspective. But they can initiate the process of reaching one, using their relationships to assemble key participants. Overseas Development Institute, Opinion 121, January 2009. Creating Shared Value ( CSV) has always been fundamental to the way we do business. Together these five elementssimple to describe, immensely challenging to implementcan ensure that the hundreds of organizations spanning the populations affected by a given social issue work together constructively despite vastly different perspectives, cultures, and ideologies. Were upgrading our systems so we can better serve our subscribers. A common criticism of CSV is the downplay of trade offs that businesses have to make. What does the term "creating shared value" mean? (Porter & Kramer, 2011, p. 6) They went on to define some of the operating practices by setting out three key ways in which companies can create shared value: 1. Every company that pursues shared value holds the key to unlocking the next of. High development impact such as financial services criticism of CSV is a transition and expansion from the of! 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