While capitalism can be held responsible for many of the numerous social and environmental issues that haunt us today, corporations hold great power and possibilities to compensate for the damage they cause. A solution can be the implementation of Creating Shared Value (CSV), which builds on identifying societal needs and approaching these as business opportunities. By doing so, value can be created for society whilst driving business results. The purpose of this thesis is to examine what factors influence the implementation of CSV in companies operating in Sweden. Data was collected through semi-structured interviews with experts who have worked with CSV. Factors that influence the implementation of CSV policies and practices, as well as factors that influence whether these lead to the desired goal of shared value creation have been extracted. The findings suggest that the public’s prevailing distrust towards companies’ engagement in solving social issues is the most noteworthy barrier for implementation of CSV, while managerial buy-in and understanding of the concept represent the strongest enabler. Getting lost in rhetoric and belief in the concept as well as focusing too strongly on measuring procedures illustrate the two greatest risks for implemented CSV policies and practice to become decoupled from the end goal of shared value creation.

From the moment the concept of Creating Shared Value (CSV) was introduced in 2011, it was by some considered to be an evolutionary way of contributing to society whereas for others it initiated an ongoing critical debate. This debate that is taking place on the academic scene has, among other things, focused on defining what CSV really is and differentiating it from Corporate Social Responsibility (CSR). This is mainly because the critical side believes that CSV is unoriginal and strikingly similar to CSR. Interestingly, in practice companies are implementing CSV in many different ways and some are adding it to their CSR strategy. The fact that these two concepts are closely related has led to a blurry line, which in return has caused disagreements in the mentioned debate. Given the above, we aim at understanding how managers interpret and implement CSV in comparison to CSR and what the differences between these two concepts are in practice. Data was collected by employing case studies which entailed semi-structured interviews with company informants. The findings indicated that managers interpret CSV as a way of contributing to society as well as the firm’s business simultaneously, and thus the implementation of the concept is highly industry-specific. CSR on the other hand, was mostly interpreted as a way of conforming to external pressures and is therefore implemented in relatively similar ways across the companies interviewed. In contrast to academia, it was indicated that managers are more interested in infusing the above two concepts than separating and differentiating them.

This qualitative study contributes to the research field on legitimacy theory and creating shared value (CSV) in small and medium-sized enterprises (SMEs), regarding helping entrepreneurs and business owners better understand the journey of engaging with social and environmental issues. Recent years have seen a growing number of organisations engage in CSV, which builds on identifying societal needs and approaching these as business opportunities. A standard that purports to uphold these values and is comprised of for-profit companies committed to sustainability-related initiatives is the B Corp label. We consider B Corp certification and explore how sustainably oriented SMEs engage with their wider community in a way that fosters corporate credibility and legitimacy.  Empirical data about five SMEs organisational narratives working with CSV, implementation of social and environmental activities, and effects of B Corp certification were collected through in-depth semi-structured interviews with company representatives and a range of secondary data materials. Analysing the data from these five interviewed companies established them to be engaging with the notion of CSV and regard addressing societal or environmental issues as the purpose of their business. Furthermore, findings suggested that values and beliefs incorporated by the SMEs supersede the generally adopted values in society, thereby representing a paradox with legitimacy theory. As a result, these businesses aim to close the perceived legitimacy gap by trying to raise awareness and engage the public with the appropriateness of their business, thereby slowly providing citizens with a more conscious mindset.

Yes / Corporations in the 21st play a decisive role in the future of society. Their power and influence in world affairs often seems devoid of ethics and seems to exceed the reach and the means of many nations. As a result, the strategic positions they take towards value creation and ethics affects every individual on the planet. This paper explores strategic routes that organisations could apply to facilitate economic growth while ensuring their ecological integrity and ensuring social enhancement generating benefits to a wider scope of organisational stakeholders. By conducting a critical analysis and clarifying common misconceptions between Corporate Social Responsibility (CSR), Creating Shared Value (CSV) and Sustainability, it is possible to determine how these interrelated strategic approaches have evolved. This article argues the importance of transforming the purpose of organisations to encapsulate stakeholder value creation as the main reason for their existence.