Enhancing shared value and sustainability practices of global firms: The case of samsung electronics

Abstract

Samsung became involved in social programs that could effectively tackle the problems at stake while linking them to firm's benefits. Korean firms, particularly the chaebol, urgently adopted the shared value concepts as part of their solutions to ease social tension while garnering efforts to enhance corporate value. Samsung has engaged in sustainability practices that mainly derived from the firm's motivations to improve corporate image. It needs to approach shared value by realigning the firm's value chain activities with social issues, focusing on core areas, and engaging other for sustainable shared value practices.

A Conceptualisation of Innovative Irganisation of an ICT Company: A Focus on the Impact of 'İnnovative Milieu

“…Buyers of Samsung products can be found almost everywhere, and the technologies employed by Samsung is familiar and user-friendly, which has led to its products being attractive to consumers, and helping the organisation to regularly engage in new initiatives. In the globalised competition within business markets, also raising its peak and business developers always try to be brisk in their domain to be able to respond to the consumer needs (Chang et al, 2013;Lee, 2019).…”

“…They insisted supply chain management should be considered and analysed with a focus on sustainability. These discussions imply that business sustainability can only be achieved by adopting the correct business ethos, and the organisation's mission and goal has to be shared by the relevant business stakeholders (Lee, 2019). Global and on international standards should be developed as a platform for enabling relevant stakeholders to collaborate and strive to achieve the business goal, and in doing so, it is inevitable for the leaders to set a clear goal and shared values within the organisations (Sanders and Wood, 2019).…”

Frameworks for innovation, collaboration, and change: Value creation wheel, design thinking, creative problem‐solving, and lean

“…Nowadays, there are many articles examining formal interorganizational collaboration across markets (for example, mergers and acquisitions [M&A], strategic alliances, joint ventures, franchising, global value chains, and business model restructuring). Although these types of formal partnerships are essential for a firm's constant IC&C, they present several challenges in the form of trust, control, confidence, contract and negotiation, commitment, and cultural issues (Gomes et al, ), cooperation vs. competition, participation values, productivity, and performance (Wong et al, ), value appropriation and risk–return trade‐offs (Contractor & Woodley, ), and shared value and sustainability (Lee, ). Many of these challenges might be addressed by applying the problem‐solving collaborative frameworks often used in the context of informal forms of cooperation.…”