Creating Integrated Value: Beyond CSR and CSV to CIV

Abstract

Creating Integrated Value, or CIV, is an important evolution of the corporate responsibility and sustainability movement. It combines many of the ideas and practices already in circulation -- like corporate social responsibility (CSR), sustainability and creating shared value (CSV) -- but signals some important shifts, especially by focusing on integration and value creation. More than a new concept, CIV is a methodology for turning the proliferation of societal aspirations and stakeholder expectations -- including numerous global guidelines, codes and standards covering the social, ethical and environmental responsibilities of business -- into a credible corporate response, without undermining the viability of the business. Practically, CIV helps a company to integrate its response to stakeholder expectations (using materiality analysis) through its management systems (using best governance practices) and value chain linkages (using life cycle thinking). This integration is applied across critical processes in the business, such as governance and strategic planning, product/service development and delivery, and supply and customer chain management. Ultimately, CIV aims to be a tool for innovation and transformation, which will be essential if business is to become part of the solution to our global challenges, rather than part of the problem.

Keywords: CSR, social responsibility, CIV, integrate value, CSV, shared value, sustainability

JEL Classification: M14, M10, Q20, L15