Dailycsr.com – 12 October 2016 – Shared value approach is being widely adopted by companies, whereby they seek to set goals of financial successes that will have a beneficial effect on the society amid seeking new “economic opportunities”, whereby regaining the trust of the public.
In this manner, companies attempt to address some of the “pressing social” issues. However, these companies work within an ecosystem where “factors beyond their control” curb their creating ability of a shared value system.
According to Marc Pfitzer and Mark Kramer of FSG in their “The Ecosystem of Shared Value”, businesses need to take up “collective impact efforts” involving all the players within the respective ecosystem for overcoming these kind of barriers. Moreover, FSG informs that:
“The article, published in Harvard Business Review, examines the 5 principles of collective impact and explores how Norway-based manufacturer Yara and the retail giant Walmart are using this approach to not only advance social progress, but also find economic opportunities that their competitors miss”.
References:
ethicalperformance.com
In this manner, companies attempt to address some of the “pressing social” issues. However, these companies work within an ecosystem where “factors beyond their control” curb their creating ability of a shared value system.
According to Marc Pfitzer and Mark Kramer of FSG in their “The Ecosystem of Shared Value”, businesses need to take up “collective impact efforts” involving all the players within the respective ecosystem for overcoming these kind of barriers. Moreover, FSG informs that:
“The article, published in Harvard Business Review, examines the 5 principles of collective impact and explores how Norway-based manufacturer Yara and the retail giant Walmart are using this approach to not only advance social progress, but also find economic opportunities that their competitors miss”.
References:
ethicalperformance.com