Social innovation for business success: shared value in the apparel industry

In: BestMasters

Abstract

Shared value not only offers a new concept to face the current business environmental dynamics but it also responds to macro-economic challenges. The creation of more value than mere profits can lead to a sustainable competitive advantage. Thus, it offers huge economic potential and presents a new challenge to corporate optimisation endeavours. Julia Schmitt draws on current sustainability and innovation research approaches in order to provide a deeper understanding of the shared value concept as a differentiation strategy for small and medium sized enterprises. Her empirical study on the German fair trade and organic fashion industry provides insights into possible configurations of a shared value business strategy. The awareness of these findings is essential to make a shared value strategy lead to business success. Contents Diffusion of Social Innovation Understanding Shared Value Success Factors and Obstacles Discussion of the Findings on Social Innovation Targets Teachers and students of Economic Sciences with focus on Development Studies and Sustainability Management Management in the field of Strategy, Operations and Marketing; Consultants and Politicians The Author Julia Schmitt, M. Sc. in International Business Studies at Friedrich-Alexander University Erlangen-Nuremberg, works now in Sustainability Management for a German medium sized enterprise.