Management and Marketing for Sustainable

Question: How to reinvent capitalism and unleash a wave of innovation and growth Harvard Business Review.Critically assess the points as made in the journal article. Whenever you give your opinion, support them using reference? Answer: Introduction The idea behind the Creating Shared Value is actually popularized by Mark Kramer and Michael Porter in their Harvard Business Review. They have tried to bring out various corporate responsibility issues through the boardroom then its written in past years. In various respects this can be considered as good idea. Creating Shared Value is the good attempt by the writers into the business ethics among the practitioners at management level. This article presents the rejection as well as criticism about the corporate social responsibility, which mainly relies over the straw man conception along with its final dependence over the economic arguments for reconnecting the business with the society. For this key purpose the reinvention of capitalism has came into existence (Hopwood, Unerman and Fries 2010). Sustainability has been never prominent into the corporate agenda. If sustainability was broadly defined as the one operating in the manner, which tries to preserve the quality for the long term and been more productive capacity in terms of both the social and natural environment under which the organization actually operates, sustainability now rapidly coming as the significant part in the strategy of corporate business (Porter and Kramer 2011). Its noted that the sustainability was able to endure as well as survive in the environment and in the future. In context of the business, the management of the sustainability is related to incorporating the economic, social, as well as different environmental factors in the decisions of the business (Montiel 2008). Role of Sustainability in Management Management of sustainability cover up the concepts related to the business ethics and corporate social responsibility (Lado and Wilson 1994). Its noted that the socially responsible business are the one whose aim is to minimize the negative effects over the society and enhance the positive influence in the society (Elkington 1994). Its noted that business ethics are also significant as they failed in getting adhere towards them and even leave the catastrophic effects over the business viability. Presently, the stress is placed over the management of sustainability on the significance of the environmental sustainability (Morsing and Oswald 2009). The article presents the four key issues with the Corporate Social value (CSV): 1. CSV is unoriginal- the Porter and Kramer (2011) have tried to acknowledge that there is something new in the concept of CSV. In past many scholars have wrote about it, and the corporate initiatives they tried to rebrand as the CSV is considered as their attempt to re-label the different practices. These practices are termed as stakeholder management, strategic CSR, and social innovation. 2. CSV ignores the issues among the economic and social goals- In the article, Porter and Kramer (2011) has presented CSV as moving more than the trade-offs among the goals of society and economy. This has only happen because Porter and Kramer has tried ignoring the trade offs, which was expected to be formulated. The article gives the surety to various opportunities, in which success of the business could be aligned with the progress of society. But still there are many hosts of social issues mainly that are created through the business, in which social as well as economic goals are conflicting. The concept of CSV tries to prompt the managers that they should simply ignore these issues (Barney 1991). 3. Lack experience about business compliance- The article mentions that similar to popular critic of Corporate Social responsibility, CSV tries to presume the compliance with the ethical standards and laws and also try to reduce the harms that were caused due to the business (Keen, Brown and Dyball 2005). As long as one tries to presume it, then dont have to deal with these issues (Porter and Kramer 2011). In fact there is single sentence, which is dedicated towards providing social harms, legal compliance and ethical norms in the article (Schaltegger, Windolph and Herzig 2012). Therefore, its crucial to ignore these occasions, where companies try to harm the environment and the people. Its better to ignore each time these companies fail in upholding the ethical customs and laws under which they operate their business. The article mentions that companies talk about CSV, but dont pretend that this is useful strategy in context of corporate responsibility (Barney 1991). For the sake of achieving the respect for the company in the spirit of laws they pay taxes and respect the global standards of labours then there would be better way of business re-legitimizing (Riccaboni and Leone 2010). 4. CSV based on conception of corporation role within the society- the article mentions that CSV is reshaping the capitalism, but in actuality its more as same of other stuff, which has given false name to the concept of capitalism, and blind focus towards the self interest of individual corporate (Roome 1998). It will support in solving the social issues and make the stakeholders in better position. The article discusses about whom these companies are kidding that this could save the capitalism, and what the requirement that tries to acknowledge the systematic nature of various problems they are actually facing or willing to get the firms engage in the collaborative responses with the various other stakeholders for solving the issues (Stead and Stead 1995). 5. The article discusses that the point is not on how CSV could contribute into the debate of corporate social responsibility, but there are certain better reasons that needs to be fulfilled (Shrivastava 1995). If these reasons are ignored then it can present the unrealistic picture of all the challenges. The organization management in present time is spending a lot on the time ostensibly in order to manage the organizational sustainability through managing the performance of the financial assets, health, computer systems, equipment production, and intellectual property (Linnenluecke and Griffiths 2010). Through this investment, it should be understood that one should try to least expect from the organization to prove that they are sustainable (Fiol 1991). Unfortunately, there are various evidences that the large management and the public sector companies are struggling in order to make their respective sustainable organizations (Costanza 1992). Conclusion Therefore, those who can create as well as manage the sustainability in management can become pioneer and lead towards the social, ecological, as well as economic transition (Porter and Kramer 2011). Therefore, who can create the sustainable organization in present time and explore the courage to return it back with common sense (Porter and Kramer 2011). References Barney, J. 1991. Firm resources and sustained competitive advantage. Journal of Management, 17(1), pp. 99120. Costanza, R. 1992. Ecological Economics: The Science and Management of Sustainability Complexity in ecological systems series. Columbia University Press. Elkington, J. 1994. Towards the sustainable corporation: Win-win-win business strategies for sustainable development. California Management Review, 36(2), pp. 90-100 Fiol, M. C. 1991. Managing culture as a competitive resource: An identity-based view of sustainable competitive advantage. Journal of Management, 17(1), pp. 191211. 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