Creating Shared Value in the Bottom of the Pyramid Markets

Abstract

With rising discontentment on capitalism, society is demanding greater responsibility and a changed role for business, mainly forlarge corporations. Under efforts to resolve the economic ambivalence, the proper role of ethics or social responsibility has been suggested by many great thinkers throughconcepts such as creative capitalism, Bottom of the Pyramid (BoP), Corporate Social Responsibility (CSR), or Creating Shared Value (CSV). Before applying these concepts to business practices, this paper will first highlight the related concepts and provide the integral message embedded in all concepts by introducing the framework constructed as the extended model to CSV.The later part of the paper will analyze the top electronics and automobile corporations in Korea and Japan. The ultimate purpose of this paper is to assess whether business operations of the selected corporations have been smart, not only good.