Lebanon’s rapid social and economic progress over the last two years is not widely admired. As measured by GDP per capita, Lebanon is now the poorest country in region. Most companies are not aware about social progress and most think only in profits.
Surely, major social challenges remain. Lebanon is one of the most unequal countries in terms of income in the world, and many Lebanese suffer from of lack to quality education, healthcare, and economic opportunity and political instability.
The country has passed through a civil war from 1975 to 1990, and despite the success of private companies in driving Lebanon’s economic performance, mistrust of private sector is very high. Pressure is growing from society and Lebanese government to play a greater role in wellbeing of ordinary Lebanese people.
Awareness about Shared Value:
Shared value offers an opportunity for companies to do so without sacrificing their competitive position. Most companies in Lebanon are afraid from shared value and consider it as danger to profits.
In fact, companies should understand that by creating shared value they improve social outcomes and this will strengthen their competitiveness. This is because companies’ success is connected to the economic and social health of the communities in which they operate.
Companies should understand also that addressing social problems can offer significant product and revenue opportunities.
Tips for Companies:
For Lebanese companies embarking on the journey to creating shared value, the Social Key Indicator is an objective and powerful tool to establish a common language about priorities between business, the public sector and civil society.
CSR AAH Group is a division of AAH Group that was found in 2008 with an aim to develop Arab youth, build their skills and widen their horizons and exposure. Using the power of partnership and co-operation with different organizations as vehicle, The CSR Division joins hands with other government and non-government organizations to create the business leaders of tomorrow.
CSR AAH Group is the one of the few popular social hubs that I heard in Lebanon and it is a successful experience, but it is not copied.
Shared value in Lebanon is unlike CSR, should address social needs with a business model-doing it profitably. Indeed, creating shared value requires the private sector to think in new ways in order to identify and pursue shared value opportunities, reform internal practices, and build relationships across sectors and with competitors.
The role of business in society is a subject of national debate in Lebanon. Shared value needs to be a major part of the conversation. If debate can shift from re-distribution to social value creation. Lebanon will shine in every sense of the word.
Shared Value really ticks!!!!!!!!!!