Shared value: Going beyond traditional CSR

Corporate social responsibility has come a long way from the days of handing out checks and doing good. It’s even gone beyond strategic CSR, in which businesses try to do more than donate money. Today, many companies are shifting to the concept of “shared value.”

This new phase was the focus of a panel discussion here at B4B led by Lalitha Vaidyanathan, managing director of FSG. “Corporate responsibility of the future needs to come from the core business,” she told the audience. “You’re creating social good while creating economic value for the business.”

Adam Lowry, Lalitha Vaidyanathan, Christopher Lloyd

Shared value requires approaching business in a much different way, she said. Corporate philanthropy still has a role, but companies need to think if there are bigger, more scalable ways for them to create social change. Both large and midsize companies can participate, she said. Continue reading