Adidas has partnered with Grameen Bank, a micro-finance organization, to manufacture low-cost shoes for the poor in Bangladesh. The creative partnership produces affordable footwear for the poor in Bangladesh, which prevent them from hookworm and other parasitic illness. In addition, these shoes are manufactured in developing countries, which also creates job opportunities for the poor. This partnership between Adidas and Grameen Bank are aiming to serve the poor rather than make profits.

By doing so, Adidas and Grameen Bank create a social business model that hold a sustainable economical strategy. They make great contribution to society by providing essential access to health to the poor in developing countries. This innovative partnership is a perfect example that illustrate shared value and corporate social responsibility (CSR). The social business project are catering for social need, not just conventional economic needs. Firms create economic values by creating social values. Thus, by reconceiving products and markets, Adidas succeeded to build a social responsible image towards the public. Moreover, it supports Bangladesh’s local economy indirectly by enabling local cluster development.

However, critics worry that CSR and CSV will become tools for companies that just want to greenwash themselves and enhance their social impacts.

article sources:

-http://knowledge.asb.unsw.edu.au/printer_friendly.cfm?articleid=1208

-http://news.xinhuanet.com/english/2009-11/18/content_12485466.htm