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An Extension of Porter and Kramer’s Creating Shared Value (CSV): Reorienting Strategies and Seeking International Cooperation

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Authors
Moon, Hwy-Chang; Parc, Jimmyn; Yim, So Hyun; Park, Nari
Issue Date
2011-12
Publisher
Institute of International Affairs, Graduate School of International Studies, Seoul National University
Citation
Journal of International and Area Studies, Vol.18 No.2, pp. 49-64
Keywords
Creating Shared Value (CSV)Corporate Social Responsibility (CSR)smart corporationstrategic philanthropycorporate philanthropy
Abstract
This paper improves the theory of creating shared value (CSV), a new way to achieve economic

success, which was introduced by Porter and Kramer. First, this study provides four types of

corporations (Stupid Corporation, Selfish Corporation, Good Corporation, and Smart Corporation)

categorized in terms of corporate and social benefits, and shows that the final destination for

corporations is to be smart, meaning the ethics and strategy as the firm’s basic measures to bolster

value creation. Second, this paper provides four distinctive strategies in order to effectively create

shared value, an extended version of three strategies presented by Porter and Kramer: defining core

competence; reconceiving comprehensive targets; redefining productivity in the value chain; and

enabling local or global cluster development. “Defining core competence” is newly added and

“reconceiving comprehensive targets” is extended from Porter and Kramer’s notion of “reconceiving

products and markets.” Above all, this paper highlights the importance of internationalization of CSV,

unlike Porter and Kramer’s emphasis on domestic clusters. The paper demonstrates the usefulness of these improvements in explaining CSV activities in the real world.
ISSN
1226-8550
Language
English
URI
http://hdl.handle.net/10371/96520
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Graduate School of International Studies (국제대학원)Dept. of International Studies (국제학과)Journal of International and Area StudiesJournal of International and Area Studies vol.18 (2011)
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