What are the award categories?
Corporate organisation leading through shared value
This award recognises corporate organisations where shared value has been, or is being, adopted and embedded as part of the organisation’s broader business strategy. The organisation appreciates the importance of engagement across all levels within the organisation and shared value has clear support and endorsement from senior leadership. A variety of shared value projects and initiatives are being explored or developed and they demonstrate the potential for shared value to become business as usual within the organisation.
Civil society organisation leading through shared value
This award recognises civil society organisations (government, not-for-profits, community groups, social enterprises) where shared value has been, or is being, adopted and embedded as part of the organisation’s broader strategy. There is engagement across multiple levels within the organisation and shared value has clear support and endorsement from senior leadership. The initiatives being developed or implemented will be based on strong partnerships, have a clear economic impact in terms of delivering more with less, and focus on addressing a major social issue.
Shared value project by an organisation or collaboration
This award celebrates the most outstanding shared value project or initiative being developed and implemented by an organisation or collaboration. The collaboration can involve corporate and civil society organisations. The project will be delivering, or have the potential to deliver, clear economic outcomes and address real societal issues. The winning project or initiative will demonstrate a best practice approach to shared value adoption with a strong focus on measurement and a defined program designed to deliver the intended outcomes.
Shared Value Champion
The Shared Value Champion award recognises an individual within the business, government, not-for-profit or education sectors making a significant contribution to the development of shared value in the region. The Shared Value Champion may be contributing through sector-leadership, knowledge development and exchange or the active promotion of the Shared Value Project and shared value more generally. The shared value champion will be a driver for change and a key influencer who has used their influence to raise awareness and engagement with shared value in the region.
Shared value organisation to watch
Awarded to applicants by the Selection Committee from entries in the organisational categories, this award will profile an aspiring or up-and-coming shared value organisation embarking on their shared value journey. They will already be able to demonstrate a clear commitment to shared value but may only be in the early stages of the development of shared value projects or initiatives.
What are the award criteria?
Award applications will be assessed by an independent Selection Committee chaired by Joanne Gray, Editor of AFR BOSS.
The following criteria apply to all award categories, except the Shared Value Champion.
Clear economic benefits while addressing a significant social issue
- There is a clear economic impact that is being derived or will be derived from the project or initiative or the organisation’s overall shared value strategy;
- For corporate organisations the potential would involve increased profit for the business while civil society organisations would gain service improvements or funding efficiencies
- The project or initiative addresses a relevant and significant social issue, which is clearly defined and articulated.
- For corporate organisations, the shared value project or initiative has the potential to offer the company a competitive advantage.
- For companies, they have demonstrated the commercial success of the shared value project or demonstrated a high probability of its imminent commercial success.
- There is a clearly defined and realistic measurement approach included as part of the shared value project/initiative or shared value strategy.
- The organisation is measuring both business and societal impact.
- The organisation has set realistic performance targets.
- The organisation has implemented the appropriate processes to collate the data required for measurement.
Opportunity for scalability
- There is a clear opportunity to take the solution(s) to scale.
- The organisation has demonstrated the potential to address a significant social issue on a national or global scale.
Contribution to the shared value community and knowledge sharing
- The organisation has a clear commitment to sharing knowledge gained through their shared value practices.
- The organisation contributes to broader discussions across the shared value community.
- There is a strong culture of shared value within the organisation and well-thought-out efforts to upskill employees and other stakeholders across the organisation.
Criteria for organisational awards
Development of a shared value culture
- The organisation’s leadership is committed to the development of a shared value approach or the development of shared value solutions.
- The company has demonstrated inventiveness and originality through the application of a ‘big idea’ and/or business model.
- The company has dramatically improved upon an existing process or has solved a common customer problem.
- The company is creating a culture designed to regularly create, nurture and develop game-breaking or pattern-breaking ideas as a function of business.
Criteria for the Shared Value Champion
The Shared Value Champion will have:
- an advanced understanding of shared value principles in theory and practice
- made an impactful contribution to the shared value conversation
- demonstrated leadership in the shared value space and within their own organisation
- contributed to the shared value knowledge base through involvement in roundtable discussions, contributions of thought leadership pieces, involvement in research
- be an advocate for shared value within their sector and professional networks.
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