Shared Value Initiative India – A New Beginning

Shared Value Initiative India

Shared value creates a business around societal challenges and needs, at a profit. It goes beyond the concept of CSR and corporate philanthropy as they work on redistributing the value created through their business whereas shared value is creating value through their business.

Institute for Competitiveness, India joined hands with Shared Value Initiative to introduce the shared value paradigm among the organizations in India in the year 2015. The Indian body will be known as the ‘Shared Value Initiative India’ and will be the exclusive Regional Partner of ‘Shared Value Initiative’. The imperative is an attempt to reshape the fundamental aspects of capitalism and society in India, which is one of the largest developing economies of the world.

India is one of the fastest growing economies attracting a lot of capital investments in every sector, SVII will encourage to introduce a new form of capitalism that will enable businesses to advance more by creating prosperity in society and bridging the socio-economic gap.

Shared Value concept

What is shared value? Corporate policies and practices that enhance the competitive advantage and profitability of the company while simultaneously advancing social and economic conditions in the communities in which it sells and operates. Shared value is not corporate social responsibility, philanthropy, or even sustainability, but a new way to achieve economic success.

Earlier profit used to be the keyword for the boardrooms of world’s most progressive companies, but now the scenario has shifted to shared value.

Shared Value enables businesses to find solutions to social problems. It reflects the GandhianPhilosophy that we are the custodian of the resources and not the owners of resources. Hence resources should be used in an efficient manner, which indeed is a key factor while creating shared value.

The following videos provide insights from some experts on this concept.

Going beyond CSR & adopting Shared Value

CSR has been the buzzword since the announcement of CSR bill in 2013 where companies are mandated to spend 2% of their profit towards social development activities, although out of 11 lakh listed companies only a handful comes under its ambit.

CSR & philanthropy is about redistribution of value created through business activities to society, whereas CSV creates profits while addressing societal needs and challenges. It create an inclusive growth by incorporating core business strategy with societal needs and is the main driver of company’s profitability.

Our Activities

Shared Value Initiative India is a non-partisan & non-governmental organization which aims to change the way businesses address the societal needs. The initiative connects the businesses & community leaders towards defining the practise of shared value in India. The aforementioned is achieved by focussing on

Our Initiatives

Many companies like, Mother Dairy, Godrej Industries, have made profits by incorporating shared value in their business. SVII has launched various initiatives that recognize companies working in the shared value space.

Shared Value Award: The award recognizes companies contributing to the society by incorporating shared value initiatives in their business models. Organizations are assessed and the best ones are awarded via Porter Prize for creating shared value. Click the link to know more about it – http://goo.gl/VEprrg

Shared Value Enterprise: It is a unique initiative that will recognize organizations as Shared Value Enterprise if they create a positive impact on society through their business. This will distinguish organizations working towards society from other organization. This will create a better brand image for those enterprises. The entire process of mapping a shared value enterprise is comprehensive and the applicants are thoroughly analysed on several parameters.

Shared Value Index: Even the most advanced companies struggle to measure their contribution for the society. Shared Value Index will provide one such measurement tool and will track companies on environmental, economic and social criteria. SVII is the first one to launch a Shared Value Index. The index will map and measure leading companies working in the shared value space. It will help companies to assess their business success in comparison to their shared value initiatives