The primordial function of business has been to make profit, so when a company speaks about doing good, the assumption is that they’re doing so at an irretrievable cost. That can be true, but it doesn’t have to be.
Namibian investment expert, Eino Emvula, addressed this succinctly at the recent GIPF Responsible Investment Symposium – “You don’t have to give up return to make an impact.” This thinking sums up Shared Value, which is birthed from the idea that the long-term success of a business is dependent on the conditions of the society it serves. It moves businesses from battling profit against purpose and instead unites the two for profit & purpose.
Steps towards Shared Value require bravery. Bravery from the C-Suite to create an internal culture around it, and bravery from those guarding the coffers to view related business risks as opportunities for scalable impact. In the table below, social impact firm, FSG, unpacks the evolution of how businesses have chosen to engage with opportunities to create Shared Value – from distant to brave.
Examples of global businesses thriving in the Strategic realm include Kenya’s Safaricom with M-PESA, Unilever’s Sustainable Living Plan, Nando’s Peri-Peri farming initiative, and IBM’s Corporate Service Corps.
These initiatives have created various forms of impact for society and positive returns for the corporates including increased demand for products, deeper insights into new markets, heightened productivity along value chains, and over $314 billion in transactions per year.
Shared Value strategies amplify ESG frameworks. They bridge impact investing and measurable results. For Namibia, they can aid an acceleration towards targets of Vision 2030 and all subsets within.
At Advantage Advertising, we shift the lens through which CSI and ESG are seen, creating the symbiosis between impact and returns to amplify the good business that corporates want to do in Namibia.
Consequently, we have created a dedicated department at Advantage Advertising called The Alliance, which focuses specifically on developing data-driven impact solutions for our clients. With a foundational principle of Shared Value, The Alliance guides corporates on the path away from profit vs purpose and towards profit & purpose. Housing a researcher and strategist, The Alliance is equipped to amplify the CSR and ESG efforts of businesses looking to go beyond business as usual.
True to its name, The Alliance is about working together for desired impact and returns, and we would love to collaborate with you. Please get in touch on info@advantage.com.na
*Ama Owusu-Agyemang is Head of Strategy & Shared Value at Advantage Advertising & Communications
