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gcef
[Date : 2016-10-20 14:15:46 ]   
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Column - The June 2016 Issue of 'Hyundai Steel Biweekly Newsletter

Ms. Angela Joo-Hyun Kang, Founder and Executive President, Global Competitiveness Empowerment Forum(GCEF) wrote the 'Global CSV' column in the special insight section for the June 2016 Issue of 'Hyundai Steel Biweekly Newsletter', published by Hyundai Steel.

<CSV(Creating Shared Value) Is the Conditions of the Beloved Company in the Society>

The current business environment requires a change for CSV unlike the previous business environment aiming to create economic values only. Since the era that we live in requires more than social contribution and social responsibility. Let’s find out the importance of CSV generating and sharing economic profits and social values for the underprivileged people.

CSV, Considering from the Perspective of the Beneficiary

The reason to empower competitiveness for CSV is that corporate image and reputation are directly related with survival of a company. Advanced companies are shaping their reputation as global companies through their efforts to create both social and economic values by solving social issues in the local community with their business solutions.

In a popular drama recently, a Korean doctor gave running shoes to a child as a gift in the conflict area called Ureukeu(A fictional country). However, the child wanted to receive a goat more than running shoes. The child needed a goat for milk to survive, not running shoes, because it is more essential gift to the child’s reality. This example makes us to think about the meaning of CSV and this is why we need social responsibility from the perspective of a beneficiary not from the perspective of a provider.

This case is not limited to the issue whether the provider or the beneficiary. It is also related with the business environment. The present business environment needs more than seeking profits. Proper win-win grow can be made by collaboration among employees, management, labor, and suppliers through mutual understanding by putting oneself in else’s shoes.

Maximizing competitive advantages as much as possible

Unlike CSR (Corporate Social Responsibility) fulfilling ethical, economical, social, and environmental responsibility in all corporate activities, Social Contribution is known as doing good activities to the society with remaining profits. In this part, people misunderstood that the more profits would be better. However, it is not always right. Social contribution based on a talent donation with competence and passion can multiply its effects several times more. Also, CSV activities can create various effects if competitive advantages could be utilized well.

Sacha Carina, Manager of Global Social Innovation Program of TNT in Netherlands, tried to send a package as a present to the person whom she met during her volunteer days in a slum area of Kenya. However, she couldn’t, because the person didn’t have an address. So, she figured out a good solution by working with a mobile baking service team of Vodafone to develop a new business service. This service gives a GPS based mobile address to the people in the slum area of India and helps them pay its delivery charge with the mobile, if the delivery by TNT logistic service is completed. Thanks to this service, people can get the chance to interact with the society economically and live their own independent lives. It would be impossible without enthusiasm of Carina. With her passion, each company was able to generate social and economic values through the partnership based on the shared value effects.

Nurturing Hybrid Talent and Creating an Enabling Environment

In order to enable CSV like the case, mentioned above, companies must nurture their ability to find an untapped customer segment and rediscover possibility of potential revenue growth in undiscovered markets. For making this possible, hybrid talent with a CSV perspective generating economic and social values is needed.

Many leading companies nurture hybrid talent systematically and strategically. Nestle had integrated CSV to the education courses for all employees until 2014 to cultivate CSV talent creating economic and social values. CSV was also integrated into the leadership education curriculum. Nestle has obtained effective outcomes from those education courses.

Employees of Orange Telecom, the largest telecom company in France, design most of CSR projects by themselves. Orange Campus, the CSV education platform for global employees has been carrying out CSV education courses in 27 countries. In 2012, this education was implemented 22 million times and 70% managers of Orange Telecom Group received this CSV education.

In order to empower CSV competitiveness through cultivating hybrid talent, an enabling environment to nurture creativity through CSV field based education programs is essential.  If hybrid talent cooperate each other through common understanding in a creative environment within organization, a company can be a beloved company, not only focusing on economic activity, a fundamental nature of business but also giving positive effects to the society.

 

The June 2016 Issue of 'Hyundai Steel Biweekly Newsletter.pdf (4669 K)
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Company : GCEF (Global Competitiveness Empowerment Forum)  
Founder and Executive President : Angela Joo-Hyun Kang   
Location : Business Valley, 522, Changkang Bldg., 86, Mapo-daero, Mapo-gu, Seoul, 04168, Republic of Korea
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