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Creating Social Value

A Guide for Leaders and Change Makers

There is a new business landscape, where companies are increasingly being judged on their ability to generate _social value_. But there is no off-the-shelf solution for the leaders and change makers in this new domain. Creating social value is a journey, and each company must chart its own path through uncertain and complex terrain. We invite you to discover how the entrepreneurial leaders profiled in this book have become trailblazers, using strategy and innovation to generate profits and social value simultaneously.

Creating Social Value provides insights into the motivations and preoccupations of groundbreaking entrepreneurial leaders as they look to activate change not just within their companies, but also in their sectors, value chains and even through co-creating partnerships with their competitors. Such change requires fundamentally new styles of leadership and business design where companies seek to be generative rather than extractive.

This book also bears witness to the emergence of new language to describe these innovative concepts. Working with and sharing ideas with social entrepreneurs and entrepreneurs inside, the authors became aware of the building blocks of a new lexicon with the power to inspire and positively influence the culture of an organization. Many of the leaders included in this book have driven change by harnessing the power of language to reroute their company’s direction.

For example, The Campbell Soup Company has created _destination goals_ to describe the long-term vision of the company to nourish its customers, employees and neighbours. Roshan has worked on _nation building_, creating physical infrastructure in Afghanistan, a country decimated by war. UPS has worked to understand its impact on the planet, building a _materiality matrix_ of the issues that matter to its stakeholders, while working to create a culture that fosters social innovation and seeks to understand _constructive dissatisfaction_. Ford is redefining its mission, imagining a different future in which it provides _mobility solutions_, rather than only manufacturing cars. Ford is working with Toyota to co-create technologies to combat climate change.

This book sets out a manifesto for Social Value Creation, which is defined as a strategy that combines a unique set of corporate assets (including innovation capacities, marketing skills, managerial acumen, employee engagement, scale) in collaboration with the assets of other sectors and firms to co-create breakthrough solutions to complex economic, social and environmental issues that impact the sustainability of both business and society. Social innovation differs from corporate responsibility in two significant ways: it is strategic and it leverages a wide range of corporate assets and core competencies.

Creating Social Value has been designed as a manual for change. It will be essential reading for business students, entrepreneurs and all of those wishing to effect positive, generative change in larger organizations.

We need a shift towards long-term value creation. Business leaders, educators and students alike will welcome these accessible and in-depth case studies, and the timely lexicon devoted to creating social value. This book will prove an invaluable tool for the development of responsible management education.
 

on 1 Nov 2013 Jonas Haertle, Head, PRME Secretariat, UN Global Compact Office

The ability to co-create economic, social and environmental prosperity is arguably the most important business issue of the 21st century. As communities, companies, governments and our natural resources become ever more intertwined, the role of business in society is shifting. This book provides managers of today's firms with a roadmap for identifying and pursuing strategies that create long term value for all stakeholders.

on 20 Jan 2014 Melissa Carrier, Assistant Dean, Office of Global Initiatives and Center for Social Value Creation, Robert H. Smith School of Business, University of Maryland

This book provides much-needed insights on important global trends and how they affect the viability of private sector activities. As business has gone global and commercial activities are penetrating deeper into people's lives, the boundaries between the public and private spheres are blurring. Creating social value is no longer an externality; it is deeply connected to the long-term success of enterprises.

on 21 Oct 2013 Georg Kell, Executive Director, UN Global Compact

It is especially valuable to learn from a portfolio of firms that are in the midst of the complexities and struggles to define a field of practice and embed it in both small and large business organizations. Creating Social Value is an outstanding compendium of those efforts ... the book will undoubtedly shape a generation of managers trying to move organizations beyond purely economic outcomes ... a rare treat indeed!

on 11 Oct 2013 Leonard A. Schlesinger, Baker Foundation Professor, Harvard Business School; President Emeritus, Bab

An extremely relevant conversation for today's business leaders. Cheryl Kiser and Babson College bring students through a wide-ranging personal and professional journey across the terrain of social value creation seen through the eyes of a diversity of business leaders. Babson's expertise in entrepreneurship paired with the promise of business cultures that drive social values and produce bottom-line value pushes this important line of thinking forward in powerful ways.

on 3 Dec 2013 Liz Maw, CEO Net Impact

Kiser and Leipziger have assembled an impressive set of corporate leaders to share their accounts of how they have come to recognize and employ the connections between business value and social impact to positively differentiate their companies. This is a must-read for those who seek to deepen understanding about the potential of business to achieve social good.

Katherine V. Smith, Executive Director, The Boston College Center for Corporate Citizenship

MBA students, those aspiring to c-suite heights, entrepreneurs and even social-practice artists would benefit to examine the pages of this book, for its perspectives and questions it leads the reader to. Should corporations be in the pursuit of creating social value? The book aggregates these individual projects into an interesting topic.

Neil Ramsay, Consultant, Creative Economics

Many people talk about integrating business and society. Cheryl Kiser, Executive Director of the Lewis Institute at Babson College, lives it, and with her co-authors enable the reader to see how all the pieces fit together.

on 5 Nov 2013 Bill Drayton, CEO, Ashoka: Innovators for the Public

A focus on social value may be the single biggest opportunity for today's entrepreneurs and intrapreneurs. The authors have demonstrated that running a business based solely on financial metrics is a model from yesterday while tomorrow's successful business strategies will be built on social value.

on 5 Nov 2013 Mike Brady, President and CEO, Greyston Bakery

Foreword

Acknowledgements

Introduction: An introduction to creating social value

1. Strategy and innovation

2. Nation-building

3. Addressing environmental and social needs

4. Creating social value through social entrepreneurship

5. Social innovation in hiring and PathMaking

6. Co-creating new sources of recycled materials  

7. Sustainability by design

8. Creating Shared Success

9. Combining social value with business opportunity 

10. Serving new markets

11. Leadership and social value creation

Concluding thoughts

Index

CHERYL KISER is Executive Director of the Babson Social Innovation Lab. DEBORAH LEIPZIGER is an author, consultant and professor in social value creation. J. JANELLE SHUBERT is Adjunct Lecturer at Babson College.

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