Early in the days of NAIR-SAFIR, my partner and I identified an important element missing from the CSV model. Experience shows us that notions of value in the business and social spheres tends to pull those two circles apart rather than enhancing the overlap. They are missing a third "atom" to bind the molecule. That third atom is the individual: the component part of both busines and society.
Our central premise is that shared value creation requires an enabling environment of shared values that can guide business decision making and behavior in the right direction.
While CSV is very strong in looking at operations, it lacks the corporate culture elements of management style, human resource development, purpose/mission integration and communications that can foster stakeholder engagement and motivation at the individual level. Engagement, not just policy, is crucial to integrating shared value with corporate identity and demonstrating how it is a quantum leap beyond sustainability.
We have focused on the role of luxury brands, given their innate relationship to leadership and aspiration, and their ability to shape values and behaviors in both the community and the workplace. Our work in this area (more on that below) directly addresses several questions that the Shared Value Initiative is asking with regard to what's next on the on shared value research agenda. Specifically we have worked on the following:
#3. What does it mean to be a "shared value company”?
#5. How do companies create a shared value brand?
#6. What is the role of different sectors in shared value creation?
For input to these (and other questions), I would like to call your attention to the following:
- My recent article on individual engagement in shared value (originally published in Portugal)
- Our book, Real Luxury: How Luxury Brands Can Create Value for the Long Term (Palgrave Macmillan, 2014), Chapter 6 in particular, “Creating a culture of shared value"
- Ethical Corporation magazine’s except of Real Luxury, “The shared value of sustainable luxury” (paywall)
- Our original concept paper in response to CSV: “Creating Shared Value: A framework for the luxury sector”