Shared Value: Creating Competitive Advantage
“Creating Shared Value is sound strategic thinking from business leaders whose goal it is to create sustainable shareholder value, and who understand how to engage with and invest in society in a way that is essential to long term business success and social progress”
- Mr Peter Brabeck-Letmathe, Chairman of Nestlé Group
Despite Hong Kong’s reputation as a financial hub, the city has many societal needs. Hong Kong’s private sector makes a significant contribution to societal development, yet for many organisations this investment is viewed as a cost rather than an opportunity.
Creating Shared Value (CSV) – strategies for addressing society’s challenges through profitable business models – is a new model for responsible companies. Leading global businesses like Nestlé and Coca-Cola are already expanding their markets and enhancing profitability, while simultaneously advancing the economic and social conditions in the communities in which they operate.
Shared Value is not about personal values. It is not about redistributing existing value through charity and volunteering activities. Shared Value is about businesses acting as businesses, and using innovation to expand the total pool of economic and social value.
On 9 September 2015, some 100 influential leaders from across Hong Kong’s business sector came together at the Shared Value Forum to hear expert speakers share their experiences and discuss challenges and opportunities around Shared Value. Please visit here for the Forum details.
Mark Kramer, co-founder of the global CSV movement, had introduced this exciting strategy in his keynote address to the Forum, preceded by a welcome address given by the Chief Secretary for Administration Mrs. Carrie Lam, who is also the Chairperson of the Commission on Poverty.
The Social Innovation and Entrepreneurship Development Fund (SIE fund) organised this first-of-its-kind Forum provides an opportunity for senior executives and decision makers to discuss how CSV might work in the Hong Kong context and answer the question:
“How can businesses in Hong Kong use social innovation and entrepreneurship to create Shared Value?”
The Forum is the first stage of the comprehensive CSV Initiatives supported by the SIE Fund. Following the Forum, organisations interested in exploring CSV further can receive additional support to delve deeper into CSV, and develop and launch their own CSV business plans.
Stage 2: CSV Workshop
Three one-day workshops for up to 20 participants each will be organised for business leaders inspired by the Forum who are interested to explore CSV further. The workshops aim to equip participants with a deeper understanding of CSV business model design and implementation. Participants will begin to develop and test ideas for potential initiatives.
Stage 3: Coaching for CSV Business Plan Development
Participants from Stage 2 that are serious about implementing and testing their CSV business plans will receive coaching and mentoring to assist with market research, stakeholder engagement and partnership building to further strengthen their plans.
Stage 4: Finalising and Launching Initiatives
Participants from Stage 3 will be supported to finalise their business plans and launch initiatives developed in Stage 3 that address poverty alleviation through CSV. The goal is to have several viable CSV business plans launched by the end of this programme.