CSR Asia Summit 2015: The Future of Brand is Creating Shared Value

KUALA LUMPUR, Malaysia, Sept. 7, 2015 /PRNewswire/ -- CSR Asia Summit 2015, the annual leading conference on corporate social responsibility in Asia, will be gathering industry experts and business leaders to deliberate on a new paradigm for business around "creating shared value".

Shared value can be defined as the policies and practices that enhance the competitiveness of a company while simultaneously advancing the economic, environmental and social conditions in the communities in which it operates in a planned way. It stresses the need for innovation and a reorientation of traditional business models.

"Shared value is an important part of a company's strategy to be more responsible and can contribute to the communities where a company operates," said Dr. Richard Welford, Chairman and founder of CSR Asia.

"Shared value is about finding new and innovative ways to create value. It is unlike philanthropy, which is essentially about giving away a share of profits. Shared value is about creating new profits in a way that addresses social needs," added Dr. Welford.

Creating Shared Value VS. Philanthropy

The private sector has long made an effort to improve the quality of life of those most in need. Aid projects sponsored by companies have made a tremendous difference. However, the philanthropic approach adopted by many companies has its limitations.

"Philanthropy has often created a culture of dependency and has repeatedly failed to tackle the root causes of social problems which are related to marginalised groups that have no access to the benefits of the market economy and possess poor skills sets," said Dr. Welford.

Shared value is certainly one approach to dealing with social issues. Nonetheless, it is not the only approach and the 2015 CSR Asia Summit will also discuss a range of other approaches including strategic approaches to community investment, skills-based volunteering, environmental and conservation projects, supply chain management and other social responsibility initiatives.

The approach chosen will depend on the social need that needs to be addressed and the financial and other resources, skills and assets that a company can bring to addressing a social need.

The Importance of Creating Shared Value - in Asian Context

Over the last decade in Asia, companies have tried to engage with and invest in communities in a much more strategic way that emphasises tangible benefits for the community and also benefits for the company in terms of brand, reputation and the local social license to operate.

"We have seen many successful projects that have tackled poverty and inequality in innovative and meaningful ways. Social returns on initial investments have been impressive, but they have rarely resulted in a financial return for businesses. However, many companies are now extending this approach and examining ways in which they can leverage their own assets and expertise to create shared value," said Dr. Welford.

Such shared value creates positive change for communities and is commercially viable for companies. This approach that includes commercial activities in communities and along value chains that creates wealth, incomes and opportunities for poor and marginalised communities is now gaining momentum in Asia and elsewhere.

Top businesses with successful shared value initiatives in Asia

• Dairy company FrieslandCampina trains and educates its milk suppliers in Vietnam, who are relatively poor smallholder farmers (12 to 15 cows), aims to improve the quality and quantity of the milk they source. The farmers see their income rise because of the better quality of milk and they are better educated which improves their lives and that of their families. The company also educates rural women and community health workers about nutrition and the importance of dairy products in the health and development of children.

• Sarangani CocoTech in the Philippines is a rapidly expanding business that produces geo-textiles from waste coconut husks in the Philippines. The growing and profitable business has created an additional income stream for poor coconut farmers, empowered rural women who weave the mats, and reduces waste. The mats can be used in areas where there is soil erosion and where there is a risk of landslides as a result of typhoon activity. The shared value approach focuses on poverty alleviation, women's empowerment and disaster preparedness.

CSR Asia Summit 2015 - Where Industry Experts and Business Leaders Gather

The CSR Asia Summit 2015 will take place from 7 to 8 October 2015, at Royale Chulan Hotel Kuala Lumpur, Malaysia. The title for this year's summit is Strategic Value Creation, and it will look into ways business strategies can bring shared value to business, community and society.

At the CSR Asia Summit, you can join Dr. Richard Welford for a half day workshop which will give you in-depth tools and guidance to design shared value initiatives for your organisation. The Summit will also feature a Partners for Shared Value session looking at best practices of shared value in Asia and how this can drive innovation and creativity.

For more information on CSR Asia Summit 2015, please visit
http://www.csr-asia.com/summit2015/index.php

For more information on CSR Asia, please visit http://www.csr-asia.com/
Follow CSR Asia on Twitter: @CSR_Asia
Follow CSR Asia on Linkedin: https://www.linkedin.com/company/482974

About CSR Asia Summit

CSR Asia Summit is an annual leading conference on corporate social responsibility in Asia. Since 2007, CSR Asia has brought together hundreds of sustainability professionals and thought leaders to discuss cutting edge issues and share their experiences.

The two-day event combines a packed programme of speakers and panel discussions covering a wide range of relevant topics, and also provides excellent networking opportunities. CSR Asia also runs an additional day of optional capacity building courses prior to the Summit. 

The CSR Asia Summit is attended and supported by many leading global companies, NGOs and academia. In addition, the event is held at a different location in Asia each year to provide local companies and organisations with a platform to build awareness of the challenges and opportunities specific to their country.

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