In the modern globalized business environment, many large international enterprises recognize social and environmental needs and aim to improve their impact. The Fortune “Change the World” list consist of such organizations which attempt to contribute to the collective well-being and reduce possible negative risks linked to various business operations. Apple, Microsoft, Nestle, Ikea, Walmart, and Airbnb are only a few of those remarkable enterprises that create shared value through innovation, charity, and conscious organizational practices. It is possible to say that by recognizing the companies’ achievements in the sphere of social responsibility, Fortune attracts international attention towards the most topical problems that exist in the world and also encourages organizational leaders to manage ethically.
Lately, the concept of “corporate social responsibility” became of great interest to both researchers and practitioners mainly because the public started to recognize that international trade, commerce, and manufacturing harm the environment and the communities where various business facilities are located. The fact that the companies began to perform fair HR practices, use green technologies, actualize ethical leadership, and participate in charity events shows that organizations now understand the urgency of the need for change. Moreover, many innovative entrepreneurs started to see the necessary process of global change as an opportunity to grow and achieve success.
By creating customer and social values through different ethical and innovation activities, companies can gain many benefits such as better brand perception, increased customer attraction, and greater profits. The renewal of organizational structures and product range, the incorporation of ethical standards in every corporate structure truly reflect the meaning of the Shared Value Initiative as they help to develop trustful relationships between the society and the business and allow customers and firms to meet their own needs without compromising each others’ interests.