When is business at its best? That was the question on everyone’s mind during the Shared Value Summit – held 12-13 May in New York City – which gathered over 400 of the world’s thinkers and doers to deliver the “how-to” of building an inclusive strategy to improve both business and lives. Participants ranged from nonprofits to for-profits and discussed everything from global activism to operational impact.
The summit, organized by FSG–a mission driven consulting firm– kicked off with a focus on the “why” of shared value, with insights offered from Michael Porter, the summit’s keynote speaker and Bishop William Lawrence, University Professor at Harvard Business School. Porter asked participants to “look at business in a different way and see a different kind of potential.” Rather than thinking of inclusive development as the combination of economic development and social progress, Porter and the Shared Value Summit focused on the rationale that the private sector can play a fundamental role in moving social development agendas forward. Other summit speakers included: Hikmet Ersek, President, CEO and Director of Western Union; Rani Deshpande, Director of YouthSave, Save the Children; Matt Lonner, Global Social Performance Manager at Chevron; Karl Hofmann, President and CEO of PSI.