In the early 2000s, when FSG began helping major global corporations think about their philanthropic strategies, we realized that they could have a far greater impact on social issues through their business practices than through their charitable giving. So we started to think about ways they could incorporate their full range of assets—their expertise, knowledge, and influence—into their philanthropic activity.
This led to our collaboration with Harvard Business School Professor Michael Porter on “The Competitive Advantage of Corporate Philanthropy” (Harvard Business Review, 2002). With leadership from Professor Porter, we explored more deeply the relationship between a company’s success and the social and environmental conditions in regions where they operated. These insights led us to focus on the interdependence, rather than the friction and tension, between business and society.
Working together, Porter, Mark Kramer and his FSG colleagues, and long-time FSG client Nestlé articulated the concept of shared value. FSG’s consulting work with many clients over the years helped refine the concept, and in 2011, Porter and Kramer published “Creating Shared Value” in Harvard Business Review.
The article attracted international attention and, along with the work of other thought leaders, contributed to a real shift in management thinking about the importance of societal issues in corporate strategy. To support this shift, FSG launched the Shared Value Initiative, a global community of leaders who find business opportunities in addressing societal challenges. FSG continues to expand the concept of shared value through our work developing, implementing, and measuring shared value strategies for major corporate clients throughout the Americas, Europe, Asia, and Africa.
Getting Started with Shared Value
- “Creating Shared Value,” Harvard Business Review
Read the original article on the topic by Professor Michael Porter and Mark Kramer.
- “Innovating for Shared Value,” Harvard Business Review
Learn the five practices that enable companies to engage in social innovation.
- Are you ready for shared value?
Take the diagnostic to assess your organization’s readiness for implementing shared value.
See the newest shared value publications from FSG, including articles and in-depth reports.
How FSG can help
- Shared Value Initiative community
The Shared Value Initiative allows you to connect with other shared value practitioners.
Learn more about our consulting work with clients to create shared value.