Shortcomings and Challenges of Creating Shared Value in Management Science: A Critical Review

Corporations are increasingly realizing the benefit of society. Even worse, more and more businesses are beginning to accept corporate responsibility, every What's more, he has been blamed for society's failures 8 . The law of legitimacy of business has fallen to a level that has not been seen in recent history. This declining confidence in business leadership has also eroded, with political leaders setting policies that undermine competitiveness and the economy. Business growth is caught in a vicious cycle 9 . A large part of the problem companies have with themselves is that they are trapped in an outdated approach to value creation that has emerged over the last few decades and ignore the broader impacts that determine their long-term success 10 . How can companies ignore the well-being of their customers, the depletion of natural resources for businesses, the viability of key suppliers, or the economic distress of the communities in which they produce and sell? How can companies think that shifting activities to low-wage locations is a "sustainable" solution to competitive challenges? 11 .