This paper analyzes moral foundations and organizational learning approaches in three small and mediumsized enterprises (SMEs) and one multinational corporation (MNC), which have embraced business models or major projects that enact the strategy of creating shared value (CSV). In the four focal firms, all of which are based in Asia, we found that their adoption of CSV has been driven by moral principles and has entailed substantial organizational learning processes.Our case analyses illustrate a dynamic and mutually sustaining relationship within the four focal firms between organizational learning processes and shared value creation, supported by moral foundations. The four focal firms embraced CSV as a moral philosophy to improve their respective societal conditions, and we found no signs of greenwashing, branding, and organizational façades in their adoption of CSV practices.creating shared value, moral foundations, organizational façades, organizational learning
| INTRODUCTIONIncreasingly, leaders of multinational corporations (MNCs), small and medium-sized enterprises (SMEs), and non-governmental organizations (NGOs) have come to espouse concern to help improve or enrich the human condition. Associated with such espousals, new kinds of "hybrid" enterprises have emerged (Porter & Kramer, 2011), and business models such as