Management Practice Insights
DOI: 10.59571/mpi.v2i1.5
Year: 2024, Volume: 2, Issue: 1, Pages: 21-26
Original Article
Snehal Shah 1, Bikramjit Ray Chaudhuri 2
1 Professor in the Organisation & Leadership Studies department at SPJIMR
2 Associate Professor in the Strategy department and Chairperson, Fellow Programme and Research at SPJIMR
Correspondence
Received Date:07 December 2023, Accepted Date:07 March 2024, Published Date:29 March 2024
As societal value creation gains importance, there is a growing realisation that some complex challenges facing society are hard to tackle by the corporate or even through a public-private partnership. To effectively tackle grand challenges such as food security, clean energy or cybersecurity threats, to name a few, value creation needs to look beyond the organisation’s boundary for multiple stakeholder collective action. So how best to organise for this? A recent research article by Finnish academic Paavo Ritala says, ‘by developing scalable online-cum-physical platforms that engage diverse stakeholders focused on the challenge to be addressed’1
1 Paavo Ritala, “Grand Challenges and Platform Ecosystems: Scaling Solutions for Wicked Ecological and Societal Problems.,” Journal of Product Innovation Management, May 25, 2023, 1, https://doi.org/10.1111/jpim.12682.
2Tim Stobierski, “15 Eye-Opening Corporate Social Responsibility Statistics,” Business Insights Blog (blog), June 15, 2021, https://online.hbs.edu/blog/post/corporate-social-responsibility-statistics.
3 Business Roundtable, “Business Roundtable Redefines the Purpose of a Corporation to Promote 'An Economy That Serves All Americans,'” August 19, 2019, https://www.businessroundtable.org/business-roundtableredefines- the-purpose-of-a-corporation-to-promote-an-economy-thatserves- all-americans.
4 Lucy Pérez, Dame Vivian Hunt, Hamid Samandari, Robin Nuttall, and Donatela Bellone, “How to Make ESG Real | McKinsey,” accessed March 5, 2024, https://www.mckinsey.com/capabilities/sustainability/ourinsights/ how-to-make-esg-real.
5 Sophie Heading, Ellissa Cavaciuti-Wishart, “These Are the Biggest Global Risks We Face in 2024 and Beyond,” World Economic Forum (blog), January 10, 2024, https://www.weforum.org/agenda/2024/01/global-risks-report- 2024/.
6 Mika Ruokonen, “Platform Ecosystems – Opportunities and Challenges,” May 28, 2021, https://futurice.com/blog/why-do-many-companies-strugglewith- platform-ecosystems.
7“Patient Innovation How It Works,” October 16, 2014, https://patientinnovation. com/how-it-works.
8“Excess Materials Exchange,” accessed March 5, 2024, https://excessmaterialsexchange.com/en_us/.
9“Master Card Priceless Planet Coalition,” accessed January 31, 2024, https://www.mastercard.us/en-us/vision/corp-responsibility/pricelessplanet. html.
10“ITC E-Choupal - Rural India's Largest Internet-Based Intervention,” accessed March 5, 2024, https://www.itcportal.com/businesses/agribusiness/ e-choupal.aspx.
11 Paul Prior, “Council Post: Phygital — What Is It And Why Should I Care?,” Forbes (blog), June 30, 2021, https://www.forbes.com/sites/forbesbusinesscouncil/2021/06/30/phygital---what-is-it-and-why-should-i-care/.
12 TBI Team, “How ITC E-Choupal Connects Corporate Giants, Farmers & Consumers,” January 4, 2018, https://www.thebetterindia.com/126690/connects-corporate-farmersconsumer-itc-e-choupal/.
13 “ITCMAARS - Ushering in NextGen Agriculture,” accessed March 5, 2024, https://www.itcportal.com/sustainability/itcmaars.aspx.
14“ITCMAARS - Ushering in NextGen Agriculture.”
15 “Patient Innovation How It Works.”
16“Excess Materials Exchange | LinkedIn,” accessed March 6, 2024, https://nl.linkedin.com/company/excess-materials-exchange.
17 Jannik Lindner, “Corporate Social Responsibility Statistics [Fresh Research],” December 16, 2023, https://gitnux.org/corporate-socialresponsibility-statistics/.
© 2024 Published by SPJIMR. This is an open-access article under the CC BY license (https://creativecommons.org/licenses/by/4.0/)
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