FROM CHARITY AND SOCIALLY RESPONSIBLE TO SHARED VALUE COMPANIES – FROM SHAREHOLDER AND STATE TO STAKEHOLDER CAPITALISM
FROM CHARITY AND SOCIALLY RESPONSIBLE TO SHARED VALUE COMPANIES – FROM SHAREHOLDER AND STATE TO STAKEHOLDER CAPITALISM

Summary/Abstract: The purpose of this paper is to point out the reasons why companies should apply the concept of shared values. The thesis is based on the claim that the concept of shared values represents an additional engagement in the field of business, but also that it significantly contributes to maximizing the added value of the company and its business performance. Shared Value focuses on creating meaningful economic and social value - a new benefit that goes beyond the costs required for business and society as a whole. Concept of shared values defines a new role for one company, which goes beyond the traditional models of corporate social responsibility. Shared value strategies are a supportive tool for companies to strengthen society's progress through innovation, their image, their connections with consumers, and their competitive advantage. On the other hand, the concept of shared values provides the opportunity to involve other actors in achieving a significant social effect. The article presents the concept of shared value as a result of discussing and developing a new idea of social responsibility in doing business. Qualitative analysis within two identified companies in Bosnia and Herzegovina is presented with an emphasis on theoretical limitations as well.

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