Creating Shared Value
In my view, shared value starts with the sharing of values, such as care, respect, integrity, kindness and maintaining a heart connection between people. Shared value is the foundation of community building, within a family, school, organization or society. Once there is heart connection, then inspiration, creativity, collaboration and value creation for the good of the whole can manifest.
Many social entrepreneurs are giving a higher priority today to the principle of “shared value,” which involves creating economic value in a way that also creates value for society by addressing its needs and challenges. Many conscious consumers are also giving priority to shared value by buying local (even if it costs more) to give back to their community or purchasing products from companies that give back to their communities.
A Harvard Business Review Jan-Feb 2011 article says, “Shared value is not social responsibility, philanthropy, or even sustainability, but a new way to achieve economic success.” They add that, “Realizing it [shared value] will require leaders and managers to develop new skills and knowledge – such as a far deeper appreciation of societal needs, a greater understanding of the true bases of company productivity, and the ability to collaborate across profit/nonprofit boundaries.”