A closer look at the CSV way
Creating shared value (CSV) goes beyond the philanthropic notion of corporate social responsibility and investment (CSR/CSI). But what exactly are the differences and does the CSV approach hold any substantial advantages for the economy? We spoke to an expert active in the field of developing shared value channels.
Q. What is the difference between CSV and CSI/
CSR?
A. Shared value is a strategy and way of working within an organisation that benefits its environment through its practices, whereas CSR is once-off or ongoing direct investments or activities that have a positive impact on communities. Creating shared value in and of itself is a more sustainable method of creating ongoing positive impact on an environment and economy.
Q. How should businesses be transforming in
2021?
A. If organisations can focus on creating broad impact at scale, and creating greater and more affordable access to products and services, much of what is considered today as meant for only a privileged few can be democratised. This means that the gap between the “haves” and the “have- nots” can begin to shrink, even if only incrementally at first.
Q. What are the socially responsible investments that companies are making that have a positive sustainable or social impact?
A. Investing in ongoing diversity and addressing
design and technology from the inside out are
A. important focus areas in terms of recruitment practices and understanding areas and roles within the organisation. Of course, everything needs to be BBEEE compliant to ensure inclusivity. However, it would also mean relying on government not to enforce BBEEE and design and technology metrics and quotas as heavily. The work would take place autonomously in a decentralised manner within an organisation. The power of diversity can directly influence the bottom line if a workforce mirrors its target audience. So, it makes business sense to focus on increasing transformation within the organisation.
Q. How does shared value strategy align with
the UN’S SDG and Agenda 2030?
Organisations, specifically start-ups, can align their organisational values, mission and vision to those of the SDGS. This would inform ways of working, their product or service offering, the impact they create as well as their unique value proposition to be intentionally aligned to broader world goals.
Q. How can organisations develop shared value and transformative strategies to combine the business model with social and environmental impact for the mutual benefit of communities and companies?
A. If companies are open to asking their teams key questions, they can obtain rich insights into business and societal challenges and innovative ways of addressing them. Organisations need to create rhythms and allow for two-way communication that focuses on addressing these challenges, and then partner with suitable external stakeholders to bring projects or innovations to fruition.