Interpretation and integration of “creating shared value” in Asia: implications for strategy research and practice
“Creating shared value” (CSV) appears on contemporary business agendas. But despite empirical evidence concerning its popularity, serious questions about the logic of CSV are raised by scholars. This paper focuses on CSV in the Asian context. Using in-depth interviews with key informants from Japan, Korea, and India, we employ a strategy-as-practice approach and develop propositions related to CSV in Asia. We identify three characteristics of Asian business practices that shape CSV in Asia: a survival sense, a strong ethical stance, and business-in-society dynamics. Finally, we introduce a preliminary framework for Asian CSV along with suggestions for future research and practice.
KeywordsCreating shared value Corporate social responsibility Business strategy Asia Japan Korea India
The first author acknowledges the support of the Japan Society for the Promotion of Science (Grant no. 16K03840).
- Alsop, R. (2007). Why teaching of ethics continues to be lacking. The Wall Street Journal, 19 June. Retrieved from https://www.wsj.com/articles/SB118222013621140038.
- Carroll, A. N., & Bucholtz, A. K. (2003). Business and society: Ethics and stakeholder management. Mason: Thomson Learning.Google Scholar
- Choi, D. W., Kim, K. B., & Lee, S. M. (2015). Impact of the creating shared value’s motivation and performance on the stakeholders. Journal of Corporation Management, 22(2), 153–174.Google Scholar
- Choi, T. H., & Nakano, C. (2008). The evolution of business ethics in Japan and Korea over the last decade. Human Systems Management, 27, 183–199.Google Scholar
- Chun, R. (2017). Samsung, shame, and corporate atonement. Harvard Business Review, 95(May), 2–5.Google Scholar
- Disparte, D. (2016). Simple ethics rules for better risk management. Harvard Business Review, 94(November), 2–4.Google Scholar
- Friedman, M. (1970). The social responsibility of business is to increase its profits. The New York Times Magazine. 13 September.Google Scholar
- House, R. J., Hanges, P. J., Javidan, M., Dorfman, P. W., & Gupta, V. (Eds.). (2004). Culture, leadership, and organizations: The GLOBE study of 62 societies. Thousand Oaks, CA: Sage.Google Scholar
- Il, W. T. S., Newenham-Kahindi, A., & Oh, C. H. (2016). Understanding the words of relationships”: Language as an essential tool to manage CSR in communities of place. Journal of International Business Studies, 46(2), 153–179.Google Scholar
- Illia, L., Zyglidopoulos, S. C., Romenti, S., Rodríguez-Cánovas, B., & del Valle Brena, A. G. (2013). Communicating corporate social responsibility to a cynical public. MIT Sloan Management Review, 54(3), 15–18.Google Scholar
- Inoguchi, T., & Newman, E. (1997). Introduction: ‘Asian values’ and democracy in Asia. Asian Values and Democracy in Asia, 27, 862–891.Google Scholar
- Kaku, R. (1997). The path of Kyosei. Harvard Business Review, 75, 55–64.Google Scholar
- Katzenstein, P. J., & Shiraishi, T. (1997). Network power: Japan and Asia. Ithaca: Cornell University Press.Google Scholar
- Kroeger, A., & Weber, C. (2015). Developing a conceptual framework for comparing social value creation. Academy of Management Review, 39(4), 43–70.Google Scholar
- Martin, R. L. (2002). The virtue matrix: Calculating the return on corporate responsibility. Harvard Business Review, 80(3), 68–75.Google Scholar
- McGinn, D., & Zoltners, A. (2015). Getting beyond “show me the money”: An interview with Andris Zoltners. Harvard Business Review, 93(4), 77–81.Google Scholar
- Mizuho. (2017). Mizuho Financial Group Integrated Report 2017. Retrieved from https://www.mizuho-fg.com/investors/financial/annual/data1703/pdf/data1703_all.pdf.
- Paine, L. S. (2003). Value shift: Why companies must merge social and financial imperatives to achieve superior performance. New York: McGraw-Hill.Google Scholar
- Paramanand, B. (2013). Michael porter is a pirate—Stuart Hart. ManagementNext, 10(1), 6–7.Google Scholar
- Pfitzer, M., Bockstette, V., & Stamp, M. (2013). Innovating for shared value. Harvard Business Review, 91(9), 101–107.Google Scholar
- Porter, M., & Kramer, M. R. (2011). Creating shared value. Harvard Business Review, 89(1/2), 62–77.Google Scholar
- Rangan, K., Chase, L., & Karim, S. (2015). The truth about CSR: Most of these programs aren’t strategic—And that’s OK. Harvard Business Review, 93, 42–49.Google Scholar
- Saito, A. (2008). Bushido. In R. W. Kolb (Ed.), Encyclopedia of business ethics and society (pp. 208–210). Los Angeles, CA: Sage.Google Scholar
- Sandel, M. (2013). What money can’t buy: The moral limits of markets. Fsgbooks.com.Google Scholar
- SK Telecom. (2014). SK Telecom Annual Report 2013: Partner for new possibility. Retrieved from https://www.sktelecom.com/img/kor/persist_report/20140806/SUSTAIN_REPORT_2013_ENG.pdf.
- Smith, C. (1994). The new corporate philanthropy. Harvard Business Review, 72(3), 105–115.Google Scholar
- Takashi, N. (2015). Creating shared value for management innovation. Tokyo: Toyo Keizai.Google Scholar
- The Federation of Korean Industries (2014). FKI Issue Paper: Major enterprises and foundations social contribution white paper. FIP-2014-0007 (2014. 11).Google Scholar
- Vogel, D. (2005). The market for virtue: The potential and limits of corporate social responsibility. Washington: Brookings Institution Press.Google Scholar
- Zenger, T. (2016). Beyond competitive advantage: How to solve the puzzle of sustaining growth while creating value. Boston: Harvard Business Review Press.Google Scholar