Business Has The Power To Drive Social Change

Shared value guru Mark Kramer said he’s reached a startling realization: that business has the power and the potential to drive social change.

At an Australian forum, leaders in business and other capacities discussed “shared value,” which is a management strategy where companies generate economic value in a way that also produces value for society. This approach, Kramer argues, gives business the unique capacity to lead social change while still building competitive advantage and growing profits.

Leaders have said that shared value has the potential to “reframe the dialogue” between community and business and is about building social benefit into business models. The idea of shared value goes hand in hand with collective impact–the model that Prosper Waco is using to drive social change locally.

Local business leaders are heavily involved in the Prosper Waco initiative, specifically through the Financial Security Steering Committee. For a list of the Steering Committee members, visit the Partners tab on our website.

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