Dumbo Feather
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
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


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



Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au


Write a Reply or Comment

Your email address will not be published.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



YOU MAY ALSO LIKE

An opportunity not to be wasted

Andrew Cairns

Tuesday, 17th September 2019 at 7:45 am

Why agility is the key for NDIS’ shifting goal posts

Contributor

Tuesday, 17th September 2019 at 7:15 am

Victoria ALIVE launches its social media campaign on inclusive volunteering

Contributor

Tuesday, 10th September 2019 at 7:30 am

How international volunteers are responding to climate change

Contributor

Monday, 2nd September 2019 at 7:30 am

POPULAR

Report finds people with disability ‘aren’t getting a fair go’

Luke Michael

Wednesday, 4th September 2019 at 4:10 pm

Why waiting lists don’t tell the full story on social housing demand

Luke Michael

Wednesday, 4th September 2019 at 4:59 pm

Eight things you need to know about the future of legacy giving

Wendy Williams

Thursday, 12th September 2019 at 8:27 am

Dumbo Feather
pba inverse logo
Subscribe Twitter Facebook
dumbofeather

Giveaway time! Simply enter your email for your chance to win a Limited Edition Gift Bundle from our friends at Dumbo Feather.

 Count me in 

You have Successfully Subscribed!