Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.
Introduction
The intention of the review, authors and the title of the article: This paper will review the views presented by the authors on business organizations and capitalism systems to draw informed and objective conclusion. The title of the article, authored by Porter and Kramer, is:
Shared value: How to reinvent capitalism- and unleash a wave of innovation and growth.
Brief overview of the article, its purpose and my reaction: The article concentrates on discussing the economic and societal benefits derived from capitalism and commercial enterprises. The authors assert that capitalism is being threatened by businesses which do not focus on giving back to the society. The purpose of the article is to advocate for the adoption of shared value by businesses worldwide.
My reaction is that shared value is a relatively new idea globally, and there is no existing research providing proof that shared value among business entities can take growth and innovation to the next level.
Background information
Capitalism system has been there for some time globally. In the recent times, businesses have replaced capitalism, and they are practising corporate social responsibilities to give back to the society. The article will be judged on how best it achieves its goal of comparing capitalism system for businesses. It will also be analyzed along the central lesson it provides, and on its strengths and weaknesses.
Summary
The article advocates for the use of shared value concept in businesses to realize societal growth. The authors contend that the companies that have taken on a shared value concept in their operations will deliver improved financial returns in the future. They argue that the adoption of shared value concept enables business enterprises to make informed decisions and take up opportunities to innovate and grow. The article acknowledges the role of government regulations on business operations. Favorable government regulations create conducive business atmosphere that support business operations. On the other hand, harsh government regulations contribute to poor performance by businesses which might contribute to their ultimate collapse. The authors of the article also state the importance of businesses’ focus on the societal needs because they are indispensable in defining markets. However, the authors indicate that business empires are thriving at the expense of the wider society.
Shared value, the authors argue, is a direct link between societal progress and economic progress. The link would be essential in discovering the power needed to drive the next generation global economic growth. The authors assert that although business is taking the role previously played by capitalism systems worldwide, there are concerns that business organizations are responsible for many society’s failures. The authors contend that companies that make profits without caring about the benefits the general society gets from them will definitely fail in the future. Some of the companies that have adopted shared value initiatives in their operations include Google, Wal-Mart, and Unilever, among others. The article proposes that businesses could implement shared value initiatives by adopting the following three operational methods:
- Refining their products and establishing new markets
- Understanding the role played by the value chain in production of companies, and
- Adopting product differentiation and clustering in the production departments within companies.
Evaluation
The article has achieved its goal by discussing in detail the benefits business entities obtain by adopting shared value concept in their operations. The article has used examples of businesses that have adopted shared value concept in their operations and given the financial figures of the savings and profits they have made. The fundamental lesson of the article is that profits earned by companies as they involve social undertakings predetermine future affirmative cycles of business and society’s prosperity.
The article’s main strength is the presentation of supported facts and business ideologies. The authors do not just mention figures and business statements. For example, the authors give financial figures of the savings made by various companies when they adopted shared value concept in their operations.
The article’s main weakness is the defence of shared value concept which is new globally. There are no scientific data and facts to support the adoption of the concept. From a personal standpoint, it would be disastrous for companies to adopt untested business ideologies.
Conclusion
In conclusion, the article has addressed the benefits of shared value concept in companies, and the essential roles played by government regulations and the society in running businesses. It is recommended that further research be conducted in the future to evaluate the benefits of adopting shared value benefits by companies. This is needed because the idea is relatively new in the business world. The future research would provide the different players with research-based findings to support the adoption of shared value concept in companies. That notwithstanding, the article is relevant to the business community and government policy makers worldwide.
Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.