Businesses are inextricably linked to the society and environment in which they operate; they are dependent on the long-term wellbeing of their customers and value chain for survival.
Throughout the world, businesses are making the shift towards adopting the purpose-led shared value management approach. As a business management strategy, shared value is designed to solve social issues profitably by leveraging on the resources and innovation of the private sector to create new solutions to some of society’s most pressing issues.
The shared value approach posits that it is not only possible but indeed preferable from a business perspective to focus on creating both economic value for its shareholders and value for society-summed up as profit with purpose.
Shared value goes beyond corporate social responsibility but rather is a symbiotic relationship between businesses and society where both responsibilities and benefits are proportioned between them in context of partnership and mutual respect. It’s about creating economic value in a way that also creates value for society.
Strathmore University Business School in partnership with the Shared Value Africa Initiative officially launched the Shared Value Executive Programme on 31st January 2020.
Speaking during the launch, Shared Value Africa Initiative CEO, Tiekie Barnard said, ” It is our responsibility as the business community to create a better future for the coming generations. ” She emphasized the need for businesses the world over to adopt a shared value management approach in a bid to ensure their sustainability.
“Businesses that are profitable focus on shared value, companies need to identify a social need and then provide a product or services that solves this need.” Paul Kasimu, Chief Human Resources Officer, Safaricom PLC.
Registration for the Shared Value Executive Programme is ongoing.