Abstract:
Society’s expectations of business are said to be increasing with business expected to play an influential role from a triple bottom line point of view. Shared value creation is a new and emerging theme in the literature on corporate social responsibility. This concept proposes an approach to social responsibility that will enhance the competitive advantage of the firm and is presented as strategic CSR. Numerous literary contributions have criticised the concept for being too vague in its approach and for being built on western world principles. This qualitative research study aimed at gaining insight into how shared value creation could be effected in a developing country. It also provided insights into the reason for the nature of the expectations and the approach to be followed in effecting shared value creation, as well as the benefits that could be realised by employing this business model. The study found that shared value creation can be effected successfully through a partnership between government, business and communities and where there is strong inter-stakeholder accountability in as far as the interventions are concerned. Measurement of outcomes and feedback thereof to the various stakeholders will enable expectation management with stakeholders and continuous improvement of endeavours. Benefits were identified as improved social capital, reduced dependency on business through spillovers and linkages from initiatives and a sustainable business.
