Shared value: How it can benefit your business
Put business opportunity, corporate assets and social need together and what do you get? A strategy called, Shared Value. Ahead of the Shared Value Summit happening next week in Nairobi, CNBC Africa spoke to the co-founder & MD of FSG, Mark Kramer for the low down on what exactly the Shared Value model is and how it can benefit companies and the African economy at large.
Fri, 17 May 2019 10:26:04 GMT
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AI Generated Summary
- Shared value enables companies to create value for society while enhancing their profitability and competitive advantage.
- The concept of shared value is particularly relevant for addressing social and environmental challenges in Africa, such as infrastructure, poverty, agriculture, and climate change.
- The Shared Value Summit in Nairobi serves as a platform to raise awareness, share best practices, and foster collaboration among businesses, NGOs, and government entities.
In a recent interview with CNBC Africa, Mark Kramer, the co-founder and managing director of FSG, shared insights on the concept of shared value and how it can benefit companies and the African economy. Shared value is a simple but powerful idea that companies can create value for society while also enhancing their own profitability and competitive advantage. By addressing social and environmental needs, companies can uncover new business opportunities that may have been overlooked by traditional business models. This approach not only benefits the companies involved but also contributes to social progress and economic growth in the regions they operate in. With the Shared Value Summit on the horizon in Nairobi, the focus is on raising awareness and providing practical examples of how companies can adopt this model to drive positive change. The summit aims to bring together business leaders, NGOs, and government officials to collaborate on creating shared value strategies that benefit both the business and society at large. This event presents a unique opportunity for African companies to embrace a new way of thinking and address the pressing challenges facing the continent. By aligning business interests with social impact, companies can contribute to sustainable development and economic prosperity in Africa.
