Towards the Creation of Shared Value in an Inclusive Business: An Empirical Investigation

Abstract

Building inclusive businesses (IBs) that generate shared value (a value including both social and business benefits simultaneously) is essential to instill the principles of inclusion, diversity, and equity in society. Yet, few studies specifically address how shared value is created in IBs. Drawing on the exploratory insights of a single case study involving an inclusive company IntendiMe, we provide an empirical investigation of the process of shared value creation. The findings of this study have shown that to create shared value in IBs, firms need to implement different practices that can be grouped into the following three phases: (1) aligning the environment with inclusion, (2) execution of inclusive business operations, and (3) value construction. During the first two phases, business and social values are still perceived separately; only after the execution of the two preparatory phases, in the third phase, IBs build shared value with the close collaboration of different market players and stakeholders. Shared value can be translated into developing innovative, inclusive products and market expansions that satisfy multiple needs of socially excluded people. With this study, we contribute to the literature on IBs and shared value by offering a dynamic analysis of the development of shared value and delineating a concrete set of practices that managers may accomplish in their business to develop a more significant value proposition based on socially inclusive principles.

Citation

Rashkova, Y., Zaitsava, M. and Moi, L. (2024), "Towards the Creation of Shared Value in an Inclusive Business: An Empirical Investigation", Wasieleski, D. and Weber, J. (Ed.) Diversity, Equity, and Inclusion (DEI) Management (Business and Society 360, Vol. 6), Emerald Publishing Limited, Leeds, pp. 229-247. https://doi.org/10.1108/S2514-175920240000006010