A quiet corporate revolution is underway: Companies are beginning to compete to change the world for the better. The drive for profit, often criticized for coming at society’s expense, is driving and enabling solutions to many of the world’s most challenging problems. The Shared Value Initiative strives to show leading companies how to create new business value by addressing social problems that intersect with their business. The Initiative looks to build a community connected with leading companies, civil society, and government organizations to accelerate knowledge sharing and facilitate ongoing conversations about the power and impact of shared value strategies. For decades many companies ignored the social and environmental consequences of their activities. They saw their main responsibility as delivering returns to shareholders and viewed their obligations to society narrowly, as “giving back” through philanthropy. After repeated corporate scandals, public pressure forced companies to accept a heightened level of “corporate social responsibility” as a cost of doing business and a way to improve their reputations. A growing number of investors also began to take note of companies’ environmental, social, and governance indicators, raising the bar on corporate conduct. But still, the main focus was on avoiding harm. The Shared value is only beginning to be measured comprehensively. Some companies remain reluctant to disclose the business impact of their social activities because they seek to appear altruistic and fear that the mere mention of profit will undermine that. Others on the list compete in controversial industries or have engaged in harmful practices in some areas even as they create social benefits in others. Shared value is not a one-dimensional filter that labels companies as either good or bad.
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AutorMauro Libi Crestani is a Venezuelan businessman CEO of Grupo Libi; a group of various food companies in the country. Archives
Agosto 2016
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