Are you considering the shared value approach? This readiness assessment is designed to guage how prepared your organization or your team is for shared value planning or implementation. If you find you're not quite ready, we invite you to browse our shared value resource library and read up on the concept.
Has your company set a shared value vision that elevates the social purpose of the business and integrates it into the company's competitive positioning?
- Reframing the purpose of the business to include a social component (e.g., moving from being a food company to being a nutrition company) indicates its importance to internal and external stakeholders and helps drive the priority of shared value activities within the company. Read the case study about how Nestlé promotes good nutrition for both business and social benefit.
Has your company identified core areas of shared value focus across the three types of shared value that the company is well-positioned to address at scale and which business units and geographies are held accountable?Why it Matters
- Defining specific corporate or business-unit areas of focus (e.g., focus on rural development, addressing specific unmet health needs in emerging markets) provides clear guidance and commitment on where the company will proactively engage in shared value strategies to internal and external stakeholders. Learn more about each type of shared value.
Has your company developed new opportunity sourcing mechanisms to identify and vet emerging shared value opportunities?Why it Matters
- Developing strong opportunity sourcing mechanisms ensures that a steady pipeline of new shared value ideas, aligned with the core areas of focus, are being identified and evaluated. Learn about how companies are innovating for shared value.
Has your company developed new (or adapted existing) business processes to integrate shared value into ongoing planning and investment prioritization activities?Why it Matters
- Integrating shared value into periodic planning processes ensures consistent attention on shared value activities at all levels of the organization.
- Providing pre-determined prioritization criteria for shared value initiatives helps set consistent expectations in internal capital allocation decisions.
Do you have cross-functional, flexible organizational structures to manage and govern shared value activities effectively, including linkages to external partners?Why it Matters
- Managing shared value initiatives often calls for organizational flexibility including an ability shield new innovations or integrate them fully into the business based on their maturity, the ability to develop cross-functional shared value organizational teams, and build external partnerships with NGOs, governments and business partners.
Do you measure the link between social and business outcomes for particular shared value initiatives?Why it Matters
- Anticipating, validating and continuously measuring the link between social and business outcomes is important to understand the social and economic value being created and the potential value that can be addressed by the strategy. Read the report on measuring shared value.
Does your company have the knowledge and leadership needed for shared value or a plan to identify and recruit shared value talent in appropriate roles?Why it Matters
- Designing and building shared value initiatives requires non-traditional business skills including cross-sector relationship development and direct engagement with social needs.
- Integrating these skills into how talent is identified and recruited helps deepen the company’s shared value talent pool while signaling its importance to potential recruits.
Do you have incentives and a culture that rewards individuals to seek out shared value opportunities and maximize their success?Why it Matters
- Tailoring performance reviews and incentive systems to reflect and reward shared value objectives supports the pursuit of shared value strategies.
Do you have internal communications that can share best practices and external communications to highlight both the intention and results of shared value strategies to key stakeholders?Why it Matters
- Communicating shared value progress (both successes and shortfalls) against company-wide goals as well as individual initiatives indicates not only the authenticity of the efforts but the practical challenges of implementing new shared value strategies.