The collaboration between business, government and community is the secret ingredient in Australia’s continued shared value success, according to global shared value thought leader Mark Kramer.
Closing the 2017 Shared Value Forum in Melbourne last week, the US-based shared value expert praised the growth of the business concept in Australia and told leaders from the region’s shared value community that Australia has the potential to be the shared value nation.
“It is always exciting to be in Australia and see how companies are really taking this concept to heart,” Kramer said.
“Australia is not only taking the lead in the Asia Pacific with companies like NAB and IAG making shared value a core part of their business strategy, and achieving strong returns for business and society, but also has the potential to be the shared value nation.”
The praise followed a day of discussions focused on leadership, competitiveness and trust – key topics explored through a series of panel discussions, storyteller sessions and keynote presentations featuring national and international speakers from HESTA, Hong Kong SAR Government, IAG, IBM, Infoxchange, Myer Family Investments, NAB, Novo Nordisk Pharmaceuticals, The Yield and Yume.
As part of the panel on ‘changing the world, Kramer explained “when it comes to solving problems, companies are rooted in the reality of the problems, in a way that governments are not”. In the ‘investment innovation’ panel speakers spoke about the importance of intraprenuers in business and the role of networks in shaping shared value investment. In the final panel speakers explored the digital disruption occurring and its influence on shared value.
Alongside the formal program of panel discussions and workshops, the Shared Value Project used the event to launch Australia’s first shared value MBA program, which will incorporate a new resource, SV GO, to help Australian business tackle social issues while creating sustainable profits.
The forum, organised by the Shared Value Project in partnership with NAB, IAG and the Department of Foreign Affairs and Trade, and media partner AFR BOSS, also included Australia’s first Shared Value Innovation Lab, facilitated by the IAG by Design Team. Participants worked together to develop shared value solutions to support the mental health issues within communities affected by natural disasters.
The forum is part of the Shared Value Project’s ongoing commitment to supporting its community of practitioners and companies exploring shared value. The new tools are further reinforced by new case studies from members including NAB, and continued promotion of shared value throughout the region.
The forum was attended by more than 170 c-suite executives, board members, strategists and policy makers, and senior government leaders as well as academics and non-profit leaders.