Creating Shared Value Essay Example | Topics and Well Written Essays - 500 words

Creating Shared Value - Essay Example The concept of shared values focuses on the societal needs and not only the conventional economic needs, but the societal needs harms and weaknesses that create the costs for the firm through the energy wasted, accidents, and raw materials. Therefore, shared value does not emphasize on personal values or sharing the values that are developed by the firm or a redistribution approach, though it is an expansion of the entire field of economic and social value. On the other hand, roots of the shared values requires that the competitiveness of a company to and the community health to be closely interrelated. Therefore, there is a need for a successful community, which does not entail the creation of demand, but provision of critical public assets. The article explains that share value can be created through establishment of economic and societal value. In fact, the process of creating share value involves three distinct ways. These efforts involve preconceiving products and markets, redefinition of efficiency in the value chain and establishing accommodating industry at the location of companies. In fact, the concept of shared value applies in resetting the boundaries of capitalism, through a connection of companies’ effort to improve the society, and developing the ways for serving their needs and markets. The article covers the roles of the entrepreneurs since their venture are not considered the only way of seeking a profitable remedy to problems in the society. Therefore, entrepreneurs have the responsibility of introducing new products that are meeting the societal needs through business models. However, there are implications of creating shared values to the government since its principles are focusing on separation that exists between the business responsibilities and government or civil society. An organization that understands the significance of productivity and creation of value can have substantial implication to the government. In