An estimated $12 trillion in market opportunities are embedded within the Sustainable Development Goals. Companies can unlock these opportunities with shared value, addressing social challenges in ways that improve a business’ competitive positioning and profitability. But long-entrenched social and environmental problems often thwart shared value strategies. While executives know how to manage their corporate ecosystem of suppliers, distributors, and related businesses, those approaches do not work for the social ecosystem of governments, NGOs, and local communities. This guide outlines concrete and actionable steps for companies to build shared value ecosystems, based on insights from 12 companies across industries from around the world.
- Identify social ecosystem hotspots
- Assemble and empower a local team to assess feasibility
- Identify and mobilize the other key actors
- Convene the key stakeholders to develop a joint blueprint for change
- Establish and fund the necessary governance structures