Porter and Kramer :78–92, 2006; Harv Bus Rev 89, 62–77, 2011) introduced ‘shared value’ as a ‘new conception of capitalism,’ claiming it is a powerful driver of economic growth and reconciliation between business and society. The idea has generated strong interest in business and academia; however, its theoretical precepts have not been rigorously assessed. In this paper, we provide a systematic and thorough analysis of shared value, focusing on its ontological and epistemological properties. Our review highlights that ‘shared value’ has (...) spread into the language of multiple disciplines, but that its current conceptualization is vague, and it presents important discrepancies in the way it is defined and operationalized, such that it is more of a buzzword than a substantive concept. It also overlaps with many other concepts and lacks empirical grounding. We offer recommendations for defining and measuring the concept, take a step toward disentangling it from related concepts, and identify relevant theories and research methods that would facilitate extending the knowledge frontier on shared value. (shrink)

Broader outlook, ethics, and social responsibility have been long-standing concerns in business practices and management. In this regard, an effective management education would play a pivotal role in instilling an ethical grounding among management students, who represent the future management practitioners. Therefore, going beyond the self-oriented perspective and promoting altruistic behavior among them would be significant in establishing broader, socially responsible considerations in organizations. However, little research has investigated how to increase altruistic behavior. To address this need, we propose that (...) Yoga-based practices (YBP) can build-up altruistic behavior by enhancing subjective vitality (SV), self-transcendence (ST), and psychological capital (PsyCap). We report two studies to test this hypothesis. In Study 1, a survey-based study (n = 342), we examine the impact of SV and ST on altruistic behavior mediated by PsyCap. The results from structural equation modeling supported the hypothesized model. In study 2, we examine the impact of YBP on SV and ST using longitudinal randomized controlled experiment design (n = 109). The findings of study 2 suggest that YBP enhanced both SV and ST and that YBP are effective, efficient, and sustainable training tools for building altruistic behavior among management students. We discuss the significance and implications of these findings for organizations, management education, and leadership development. We consider the limitations of our study and suggest directions for future research. (shrink)

The notion of shared value presents business with a challenge: to generate social benefit and profit simultaneously. This challenge involves resolving tensions/paradoxes inherent when integrating the apparent contradictory elements of social and economic values. Unfortunately, resolving such tensions is difficult due to the habitual, automatic nature of sensemaking. This paper offers a mechanism whereby individuals can, over time, begin to overcome habitual sensemaking and potentially resolve tensions inherent in shared value. The mechanism is labeled inner knowledge creation. IKC is described (...) and its role in creating shared value for businesses is illustrated through a conceptual model. The model shows how IKC develops metacognitive capabilities, builds capacities to resolve tensions/paradoxes, and cultivates openness to others’ perspectives. (shrink)

In November 2014, Pope Francis addressed the World Congress of Accountants in Rome and called on the profession to go beyond accomplishing its duty with competence and wisdom. This study draws insights from Francis’s speech on how spirituality can expand the scope of accounting ethics from mere integrity, honesty, and professionalism to grander aims such as creativity, human development, and social solidarity. Recent studies show that workers and companies with a spiritual orientation perform better than peers and that spirituality fosters (...) creativity. We also discuss how lessons from Francis’s speech can take place in a classroom setting and some real-world applications of those lessons. (shrink)