Knowledge Exchange - FSG Approach - Shared Value. YouTube. Michael Porter's Creating shared value Spring 2011. Harvard Business School - Institute for Strategy and Competitiveness - Creating Shared Value. Creating Shared Value. The capitalist system is under siege. In recent years business increasingly has been viewed as a major cause of social, environmental, and economic problems. Companies are widely perceived to be prospering at the expense of the broader community. Even worse, the more business has begun to embrace corporate responsibility, the more it has been blamed for society’s failures. The legitimacy of business has fallen to levels not seen in recent history. This diminished trust in business leads political leaders to set policies that undermine competitiveness and sap economic growth. Business is caught in a vicious circle.
A big part of the problem lies with companies themselves, which remain trapped in an outdated approach to value creation that has emerged over the past few decades. Companies must take the lead in bringing business and society back together. Capitalism is an unparalleled vehicle for meeting human needs, improving efficiency, creating jobs, and building wealth.