“if companies do not rigorously track the interdependency between social and business results, they miss important opportunities for growth, innovation and social impact at scale.” (Porter).
The idea of shared value goes beyond corporate social responsibility. Despite common corporate citizenship activities, the public often views for-profit companies as prospering at the expense of society. Creating shared value offers organisations a way to sustainably drive social progress using their business models (rather than through charitable activities, which are separate from their business models).
More broadly, it is critical that we measure the social impact of any programs with a social purpose. As a society, we need to be able to demonstrate that the investment being made in social services is making a real impact in the lives of vulnerable Australians. It is also important that these programs are delivered in a cost-effective manner, so our limited resources can be used to create the greatest social impact possible.
To do this we need a way to measure social impact that is rigorous, yet achievable for any sized organisation. Using a consistent approach to valuation and impact measurement makes it possible to compare the social value created by different types of programs. Being able to understand the net benefits of a program can help inform future investment decisions based on impact.
Team experience includes:
PwC’s Indigenous Consulting (PIC) – James van Smeerdijk conceived and led the development of PIC, an innovative majority Indigenous owned, led and staffed consulting business, and was a board member for the first 6 years. PIC won a number of awards as an innovative shared value model
Art Centre Melbourne, shared value partnership - James van Smeerdijk led the development of PwC’s shared value partnership with Arts Centre Melbourne