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Shared Value for the middle market? We doubt it.

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Shared Value for the middle market? We doubt it.

Should middle market businesses really “integrate societal needs” into their businesses?

 

Apparently business is so good for large companies that they can now start solving the world’s societal problems on the side.

From a Davos press release from global insurance provider XL Group:

"Success is not only about the commercial value we can deliver, but also about how we can best integrate societal needs into our business models." This was the message from XL Group's CEO Mike McGavick when addressing a gathering of leading CEOs attending a Harvard Business Review event held yesterday at the World Economic Forum.

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The CEOs met to discuss the concept of Shared Value - first put forward back in 2006 by Harvard University Professor Michael E. Porter and Mark R. Kramer, Managing Director, FSG and Senior Fellow, CSR Initiative at Harvard's Kennedy School of Government. In 2011 they followed up with "Creating Shared Value," arguing that focusing on the connection between societal and economic progress will help unleash a wave of global innovation and growth.

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