Governments, NGOs, companies, and community members must all be involved
in programs to create shared value, yet they work more often in
opposition than in alignment. A movement known as collective impact has
facilitated successful collaborations in the social sector, and it can
guide businesses in bringing together the various actors in their
ecosystems to help remedy some of the world’s most urgent problems. In
the process, companies will find economic opportunities that their
competitors miss. Five elements must be in place for a collective-impact
effort to achieve its aims: (1) a common agenda, which helps align the
players’ efforts and defines their commitment; (2) a shared measurement
system; (3) mutually reinforcing activities; (4) constant communication,
which builds trust and ensures mutual objectives; and (5) dedicated
“backbone” support, delivered by a separate, independently funded staff,
which builds public will, advances policy, and mobilizes resources.
INSETS: CREATING SHARED VALUE.;BARRIERS IN THE ECOSYSTEM.. [ABSTRACT
FROM AUTHOR]