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Shared Value (Vicious circle (Businesses seen as prospering at the expense…

- - - - presented by POrter and Kramer as a new concept but actually similar to existing literature on CSR, stakeholder management and social innovation
      - straw man - Caricatruring CSR when in fact the question of profitability from CSR has been debated since the 70s
      - failure to acknowledge existing works that discuss this theme - Ed Freeman's Stakeholder theory, EMerson's "blended value" concept, Kanter's Social innovation theory,
    - - social and economic outcomes not often aligned for all stakeholders
        
        often negotiation over a social issue is not an option for some stakeholders i.e. NGOs and activists
      - some of the companies praised for acting with CSV are notorious for having less than virtuous business dealings in the past leading to a lot of existing unresolved issues - risk of "greenwashing"
      - NO evidence that acting virtuously is profitable
      - companies that produce un-socially conscious products i.e. arms, tobacco, petrol. How to expand and make their business socially conscious? Fndamental nature of product has negative impact on society
      - cluster thinking may have negative impacts on societies - dependence on one industry, highlighting inequalities leading to migration etc.
    - - CSV assumes compliance with laws and regs and ethical standards
      - motivates companies to stick to "win-win" situations rather than tackle genuine deep seated problems in societies in which they operate