The Shared Value Initiative just released a video interview of Cisco Corporate Affairs Senior Director Kathy Mulvany, taken during the Global Shared Value Leadership Summit in Cambridge, Massachusetts.
The term “shared value” is the concept that a company can enhance its own competitiveness while simultaneously alleviating social problems in the communities where it operates. What differentiates shared value from other initiatives is that it is far more sustainable than simply writing a check, than more traditional philanthropy, according to Kathy. “We really believe that if you are going to be able to maintain over the long run in driving community investment and building healthy markets for your products and services, that shared value provides a framework by which you can do that,” she says in the video interview.
One of the most important elements of shared value is building strategic relationships. The world today faces some major social challenges that cannot be addressed by one stakeholder alone. Business, governments, and nonprofits need to work together to create organizations and communities where people can thrive.