Shared Value: What is it, how does it work, how does it matter, and to whom?

There is financial, economic and social value, and now there is also Shared Value. While the other forms of value have been steadily analysed and documented over the years. Shared Value is still in its gestation phase. Michael... [ view full abstract ]

There is financial, economic and social value, and now there is also Shared Value. While the other forms of value have been steadily analysed and documented over the years. Shared Value is still in its gestation phase. Michael Porter is however convinced that Shared Value has the potential to redefine capitalism and its impact upon societies in a positive fashion. Shared Value thus involves a novel set of organisational systematic thinking and praxis, which is adopted to boost the general public’s welfare (or achieve the common good). Apparently, the cornerstone of Shared Value reflects a change of ideology and praxis, which moves societal and environmental welfare closer to the core of an organisation’s reason for being, and doing. But does the Shared Value paradigm really present novel ideas to organisations, academia and societies? Or is it simply a set of old ideas labelled in a new way?

In order for new business paradigms to gain traction with, and attain legitimacy across industries, they ought to be meaningful to the evolution of organisations. They do so by informing and shifting thought and behavioural practices in ways that promote and sustain business growth or desired impact. The paradigms should also move scholars and practitioners further in their thinking about, and critiquing organisational practices and the roles of nations and citizens in the Marketplace.

In view of the above stated points, the Symposium will bring together scholars and practitioners to dissect Shared Value, and demonstrate both its novelty and utility to businesses, societies and academia. Shared Value will be juxtaposed with, and related to the following operational concepts, among others:
• Bottom of the Pyramid Markets
• Business and (Sustainable) Development
• Corporate Citizenship
• Corporate Social Responsibility
• Social Entrepreneurship
• Sustainable Business

The Symposium aims to collectively debate the positioning of Shared Value and its significance to business and society. The Symposium will address the (feasible) adoption of Shared Value by organisations through reviewing what are organisations are doing currently (and differently from the past), how and for how long, and with what specific implications for societal welfare.