c
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  | 

5 Keys to Successfully Creating Shared Value – Harvard Business Review


Thursday, 14th November 2013 at 9:49 am
Staff Reporter, Journalist
Innovating for shared value relies on five mutually reinforcing elements, new research from international Not for Profit consulting firm FSG suggests.

Thursday, 14th November 2013
at 9:49 am
Staff Reporter, Journalist


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
5 Keys to Successfully Creating Shared Value – Harvard Business Review
Thursday, 14th November 2013 at 9:49 am

Innovating for shared value relies on five mutually reinforcing elements, new research from international Not for Profit consulting firm FSG suggests.

The report, published in the Harvard Business Review, researched over 30 companies involved in social innovation and found five guiding principles common to each company.

The study found that all the companies involved had a social purpose embedded within their ethos, making solving social issues in a profitable manner their reason to exist.

For example, food manufacturers like Nestle have positioned themselves as health food companies, and carmakers Nissan and Toyota have positioned themselves as makers of low emissions mobility.

Researching and identifying social issues that exist within the company’s reach is also essential in starting a social enterprise. This allows opportunities to be recognised and capitalised on quickly and efficiently.

However, without sound evaluation mechanisms in place, the social and financial impacts of these enterprises become hard to analyse.

This evaluation is crucial to improve the parts of the plan that aren’t working, and celebrate the parts that are.

The report also discussed the support government agencies and Not for Profits can offer businesses in establishing social innovations. Seeking this support allows companies to shield other areas of the business from any risk attached to the project, creating an ideal environment for innovation and long-term approaches.

Marc Pfitzer, Managing Director at FSG, will be in Melbourne in November to speak at the 2nd Creating Shared Value Forum, find out more here.


Staff Reporter  |  Journalist |  @ProBonoNews


FEATURED SUPPLIERS


Helping the helpers fund their mission…...

FrontStream Pty Ltd (FrontStream AsiaPacific)

We specialise in data solutions consulting and IT profession...

DQUBE Solutions

Fantastic digital management app for organisations deliverin...

Ateesa

NGO Recruitment is Australia’s not-for-profit sector recru...

NGO Recruitment

More Suppliers


YOU MAY ALSO LIKE

NFP Communication – Four Areas You Should Be Investing In

Contributor

Tuesday, 20th February 2018 at 8:14 am

The Sad Reality of The Indigenous Youth’s Wellbeing

Contributor

Thursday, 1st February 2018 at 8:15 am

Same Outputs, Different Impact

Contributor

Thursday, 7th December 2017 at 8:00 am

Equipping Policymakers for Ambitious Change

Matt Ryan

Friday, 1st December 2017 at 3:26 pm

POPULAR

Luke Batty Foundation to Close as Rosie Batty Steps Down

Luke Michael

Monday, 19th February 2018 at 5:37 pm

Calls to Remove ‘Blanket Religious Exemptions’ for Faith-Based Charities

Luke Michael

Friday, 16th February 2018 at 2:35 pm

Sharp Decline in People Accessing Disability Support Pension

Luke Michael

Wednesday, 21st February 2018 at 4:59 pm

Employee-Led Mutual to Deliver NDIS Services in SA

Luke Michael

Monday, 19th February 2018 at 10:54 am

Write a Reply or Comment

Your email address will not be published. Required fields are marked *


c
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!