WHAT IS THAT
Shared value is a product/service technical specification owned by CSQA.It arises from the need to enhance products that are based on a common commitment of the stakeholders in achieving sustainability objectives .
It is an extremely flexible tool that allows resources and attention to be focused on specific sustainability issues ( values ), considered priorities together with one or more reference stakeholders and pertinent to the specific product or service.
Shared value is therefore the result of the set of policies and operating practices that allow the organization to:
- increase its competitiveness
- simultaneously demonstrate that they are advancing the economic and social conditions of one or more reference stakeholders (e.g. a community, a group of suppliers, etc.).
THE VALUE OF A PRODUCT/SERVICE
It arises from a "complex relationship" of an economic, social and environmental nature between organizations and the territory, along the supply chain. The quality of the relationship created or the construction of the territorial network influences the value obtained.The values must be identified within the pillars of sustainability (social, economic, environmental) and must be the result of sharing between the various stakeholders on whom they have an impact.
THE STAKEHOLDERSIs critical:
- the correct identification of the stakeholders, who can be consumers/customers, internal, external (institutions, etc.) and suppliers.
- Understanding the expectations expressed by stakeholders and the consistency of the organization's response.
The interactive process, two-way communication, is therefore a fundamental characteristic of this system and must be adequately formalized also in the phase of co-evaluation of the results/performance of the activities implemented.
KEY POINTSIt is a tool characterized by three elements:
- strategic approach - the company management will have to define a specific policy, related objectives to be pursued and applicable strategies.
- Identification and involvement of the parties (stakeholders) – opportunities for dialogue.
- Management and continuous improvement.
The company can focus on:
- environmental issues (eg commitment to reduce CO2 emissions, or to reduce packaging, etc.).
- Economic issues (e.g. fair price paid to farmers, etc.).
- Social issues (e.g. employment contracts, safety in the workplace, etc.).
In deepening the specific topics dealt with, the value to be shared and on which to engage will be identified through a process of involving and empowering stakeholders.
Particularly virtuous companies that are committed to all three pillars of sustainability and only in this case can we talk about a sustainable supply chain .
The tools and guidelines used in dealing with specific sustainability issues refer to international standards such as BS1000, OECD guidelines and ISO 26000.
- It is inspired by the principles and approaches codified in voluntary standards (e.g. ISO 26000, BS1000)
- It is a certification that: improves reputation, makes communication on sustainability issues more credible, promotes the differentiation of a product/service
- It is an innovative tool that allows you to approach the issue of sustainability by focusing attention and resources on issues considered truly priorities together with one or more relevant stakeholders with respect to the product/service and the reference chain/supply chain
- It is a certification that adapts to company strategies and objectives
- It is a tool to support the verifiability of the values shared with the stakeholders that an organization intends to communicate externally
- It is a certification that can be transferred to the product