In this video, several senior managers discuss creating shared value (CSV). Their views often resort back to sustainability and long-term profitability. To these managers, CSV is not about doing good and philanthropy, but about recognizing and taking advantage of business opportunities that also cater to societal values and needs. Corporate social responsibility (CSR) is somewhat incorporated into CSV by showing care and compassion for local communities, however the main difference includes the fact that CSV creates value in the form of increased profits for the corporation, while also helping society.
However, these increased benefits do not come without costs; companies have to invest both time and money to investigate where they can change their processes and alter certain aspects of their products.
In order for this concept to be accepted within the workplace, managers and CEOs have to buy in and take the lead in grounding the institution. This means that by examining workplace culture, these managers can alter certain aspects in order to shift the focus on to creating shared value.
None of this is possible without complete cooperation between the organizations involved as well as local governments and NGOs. By working together and combining resources, corporations can make huge, positive impacts throughout the world, and hopefully set positive trends for the future.
- Alex Healy
