Creating ‘Shared Value’: Delivering On Social Values
August 13, 2012 Editor 0
Today’s sharpest business executives “don’t want to spend their life creating ‘shareholder value.’ That’s not their purpose in life. . . . They want to have a purpose. They want their company to stand for something that matters – to be ‘moving the needle’ on something important.” Just a few years ago, the idea of a business professor suggesting that shareholder value is not the be-all and end-all of corporate life might have seemed unthinkable. Yet a renowned Harvard strategist, visiting the World Bank last week, analyzed the private sector’s current woes and offered a way both to repair public faith in business and to constructively “reinvent capitalism.”
Creating enduring value – not just for a company’s stockholders, but for all of society’s stakeholders – requires companies to reconsider the logic of how they do business, said Michael Porter of Harvard Business School, a pioneer in the field of corporate strategy. Business leaders, said Porter, should focus on creating win-win outcomes that strengthen society as well as satisfy the profit motive. They can do so by reaching out to serve broader constituencies and by being attentive to long-term social impact.
- Building intellectual capital in incubated technology firms
- The Death of Innovation Crowdsourcing (As We Know It)!
- A quest for global entrepreneurs: the importance of cultural intelligence on commitment to entrepreneurial education
- Corporate governance, value and performance of firms: new empirical results on convergence from a large international database
- Elements of Sustainable Business Models
- Competitive Cities: Which Are They, and Why Should We Care?
Categories: World Bank PSD
Subscribe to our stories
- The Strategic Role of Design in Driving Digital Innovation June 10, 2021
- Correction to: Hybrid mosquitoes? Evidence from rural Tanzania on how local communities conceptualize and respond to modified mosquitoes as a tool for malaria control June 10, 2021
- BRIEF FOCUS: Optimal spacing for groundnuts in smallholder farming systems June 9, 2021
- COVID-19 pandemic: impacts on the achievements of Sustainable Development Goals in Africa June 9, 2021
- Explicit knowledge networks and their relationship with productivity in SMEs May 30, 2021