Abstract

This study investigates why successful companies have pursued creating shared value (CSV) during the COVID-19 pandemic and the immediately ensuing post-COVID-19 era. The paper aims to achieve a better understanding of the triggers that induce companies to pursue CSV initiatives. A qualitative thematic analysis of cases of CSV involving 54 companies honored by Fortune magazine within its 2022 Change the World list was investigated and systematically reviewed. Based on the analysis, we identified and classified the motivators of CSV projects according to various internal and external triggers. The qualitative results revealed seven types of internal triggers for CSV initiatives. These are: (1) following founder/leader philosophy or experience, (2) foreseeing customer growth and profit potential, (3) enhancing employee loyalty and commitment, (4) developing a future talent pool, (5) improving operational efficiency and cutting costs, (6) building differentiation weapons, and (7) becoming an industry pioneer. Seven types of external triggers for CSV initiatives were also identified. These comprise (1) economic benefits, (2) environmental protection, (3) human rights, (4) public health, (5) social justice, (6) partnership availability, and (7) government stimuli. This study contributes to the CSV literature by providing analyses of the motivators that have induced CSV initiatives during the COVID-19 era. We conclude by discussing the implications for business academics and practitioners.