The Concept of Shared Value is becoming major point of concern now-a-days. Most businesses are relying on creating shared value. Many renowned companies are focusing on value creation e.g Intel a big Name in Technology has the policy that their every employee attend the seminar based on value creation.( Vadim Kotelnikov) According to World Socialist Movement Capitalism is the process in which the economics of the country is in private ownership.(2006) Capitalism has only lead to economic and societal distress. Many businesses are now viewed as to create many economic, societal and social problems which are becoming difficult to solve. Many businesses are focusing on old ways of creating shared value. Shared value actually is a term used for making such policies and strategies that help the businesses to achieve societal and economic progress of the community in which it operates. (James Epstein-Reeves 2012). There are many opportunities in the society which leads to value creation. Main opportunities involves the basic needs of the society which can be fulfilled by devising innovative ways to produce something that caters to that particular need by cutting the cost that the firm bears. (Porter,Kramer,2011,pp 64-77)
The government and the firms are also contrary to each other thus suppressing the overall economic growth.. Three ways are discussed on the article for value creation: one is reconceived the products and services, second is to redefine productivity in value chain and third is to build supportive clusters at company’s location. (Porter,Kramer,2011,pp 64-77)
Five Key Points
CSV vs CSR:
According to Center 4 shared value Corporate Social Responsibility is somehow...
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...t open up new products to sell, new customers to serve, new markets to enter etc. every company will be implementing shared value in its strategy which will then enable it to gain competitive advantage over others. Share value can be practiced in every major decision of the businesses. The three most important approaches for creating shared value is by enhancing clusters, new value chain choices and new value chain configurations.
Shared value links the company’s success with the overall success of the society and also gives the right direction to the firm. It concentrates on earning right kinds of profits that is profits that gives societal benefits and helps in economic and social growth.
According to business case studies Nestle is working on creating shared value to countries with whom they work these are considered as vital for value chain this includes
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