The Shared Value Project (a regional community driving shared value in Australia) and Social Ventures Australia have released a report detailing the findings from the inaugural ‘State of Shared Value in Australia’ survey. The survey was targeted at ASX 100 companies and organisations with a demonstrable experience or interest in creating shared value (41 organisations responded to the survey).
According to the report, a shared value strategy is one that creates a benefit for both society and the organisation itself. Of the 41 respondents, 46% indicated they were currently pursuing a shared value strategy.
The report summarises the survey results into five main findings:
- If shared value is defined as leading to economic and social or environmental outcomes, then many companies who don’t have an explicit shared value strategy are in fact delivering strategies that create shared value.
- There is no clear pattern between the sector where a company operates and the social issues it chooses to address.
- The major challenges for organisations looking to create shared value are:
- overcoming internal perceptions;
- aligning shared value with the company’s broader strategy; and
- measurement difficulties.
- Companies pursuing share value strategies are experiencing social and economic benefits and positive brand association (both internally and with external stakeholders).
- Shared value is still very much in its infancy in Australia.
For more details, please access the full report here.