Creating Shared Value

While reading Olya Kubily’s blog about Whole Foods and how they are creating shared value by having “complete genetically modified organism transparency”, it caused me to think about the benefits of creating loyalty with a customer. Whole Foods is showing the public that they can be trusted and are a very reputable company, while simultaneously providing consumers a choice of what foods they would like to consume. These are the types of win-win scenarios that are important for companies to create in order to maintain an advantage over competitors.

Another great example of creating shared value is Starbucks ‘Create Jobs for USA’. Starbucks examined their sales and knew they were dependent on local businesses doing well in order to attract more customers to the store. Much of corporate social responsibility (CSR) is too focused on the “need” to give back. Shared value erases that need with a want, because instead of thinking of it as “giving back”, the company will know that it also helps them in the long run.