Shared Value & Philanthropy
​
Corporate philanthropy is giving way to a concept with greater longevity - that of 'Shared Value'.
​
Corporate philanthropic programs via the donation of money, goods or labour can make a significant difference to the community in which they operate.
Problems for the program recipients arise when times get tough and corporates need to cut costs to meet budget. Philanthropy is often one of the first activities to go. The impact on the dependant recipients of having their funding cut can be more devastating than the detrimental reputational impact on the business.
​
In 2011 Michael Porter and Mark Kramer of Harvard University introduced the concept of 'shared value'. 'Shared value' is where a program delivers a 'win-win': advancing the commercial interests of the company as well as benefitting the community.
Hitting this commercial & community 'sweet spot' makes the initiative more sustainable from a corporate perspective and so a more reliable source of assistance for the beneficiaries.
​
​
The right Shared Value strategy is also a great way for a company to fulfil some of its CSR obligations.
If you're looking to build your company's reputation and are wondering how you can build a shared value strategy to benefit your organisation and community, please connect. The Reputation Advantage has over 17 years experience and would enjoy sharing with you what we know info@reputationadvantage.com.au.