This post was also published on the Huffington Post ImpactX
The term “shared value” was introduced in 2010 by Michael Porter and Mark Kramer, co-founders of FSG, a nonprofit consulting firm specializing in strategy, evaluation, and research.
But what does it mean? Simply put, it is the concept that a company can enhance its own competitiveness while simultaneously alleviating social problems in the communities where it operates.
According to Porter and Kramer, one way in which companies can create shared value opportunities is to enable “local cluster development.”
“When a firm builds clusters in its key locations, they also amplify the connection between their success and their communities’ success,” Porter and Kramer wrote in the January-February 2010 issue of Harvard Business Review.
I am a believer in this approach to creating shared value because it is the basis for the Cisco Networking Academy, our largest and longest-running corporate social responsibility program.
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Tags: cluster development, kramer, networking academy, porter, shared value
The discipline of community relations has evolved dramatically in recent years. Recognizing both the responsibility to support their communities and the business benefits of a positive reputation, companies have invested billions of dollars and millions of hours, resulting in a substantive impact.
Yet for many organizations, corporate social responsibility (CSR) is on the verge of the most dramatic change yet. It’s a shift to the concept of creating shared value, which tears apart the traditional lines between a CSR program and the business it supports. In many ways, it makes community relations obsolete, as the entire business becomes a community relations effort unto itself. The emerging practice of creating shared value can transform how companies grow and impact communities around the world.
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Tags: Cisco, community relations, corporate social responsibility, CSR, impact multiplied, shared value
Employees take Cisco’s corporate culture of environmental and social responsibility seriously. Some so seriously that they don protective gear and venture to the rooftops of Cisco office buildings in France and the United Kingdom to cultivate a greener world.
These Cisco employees are not modern day superheroes, but rookie beekeepers, intent on cultivating colonies of endangered bees to pollinate wild plants and food crops.
The European beekeeping project illustrates how people can use human and technology networks to multiply the positive impact of something they are passionate about. Read More »
Tags: Borderless Networks, collaboration, CSR, employees, england, Europe, France, shared value, United Nations
For more than two decades, Cisco’s vision has been to change the way the world works, lives, plays, and learns. Our approach to corporate social responsibility (CSR) aligns responsible business practices and social investments to create long-term value for our business.
We encourage you to read more about our CSR efforts in the 2010 CSR Report, and tell us how you engage the network for good.
Tags: corporate affairs, corporate citizenship, CSR, shared value, social investment