Creating Shared Value: Analysis and Applications

The assignment delves into Michael Porter's theory of 'Creating Shared Value,' examining various interpretive models and their impact on organizational sustainability disclosure. It analyzes case studies from different sectors, including healthcare, gambling, and pharmaceuticals, highlighting the ethical considerations and practical implementations of CSV. The assignment encourages critical evaluation of CSV as a strategy for achieving both economic and social benefits.

Business and Society

EXECUTIVE SUMMARY
The report is all about the relationship between the business and society, how the
organisation maintain the relationship with the different stakeholders which is existing in the
society. For this project report ACIM have been selected which Australian museum of the TV,
video games, digital culture, films and art. The key purpose for doing this study is to find the
interest of stakeholders so that organisation can adopt and develop their business model to satisfy
the needs and wants of the different stakeholders.

Table of Contents
INTRODUCTION...........................................................................................................................1
Question 1...............................................................................................................................1
Question 2...............................................................................................................................5
Question 3...............................................................................................................................6
CONCLUSION................................................................................................................................8
RECOMMENDATION...................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
ACMI is the Australian museum of the TV, digital culture, video games, films and art
which is the Sydney based independent publishing house that manufacture semi-annual print. It
is the longest running art journal since 1946. Dott publishing is the technique used to print the art
in the Australia which is specialised for the quality of contemporary art publications such as
catalogues, artist editions and books. The purpose of this report is to find the shared value of the
stakeholders in order to develop and adopt the business model with the involvement of
stakeholders interest. This will help the organisation in different sectors such as creating loyal
cutomers, attracting new customer, raising of fund from different shareholders etc.
Question 1
ACMI is the Australian museum of the TV, digital culture, video games, films and art.
They organise different exhibition programs such as screen world which communicate the story
which is remarkable of the moving image, it is the vibrant biography that look into present, past
and future. Other than that they organise Australian mediatheque which serve access to the
wealth of video and audio content from the different collection of the ACMI, sound archive and
national film (Beschorner and Hajduk, 2017). They also organise different events such as talks
and performance, creative workshops, AFTRS friday on my mind, AsiaTOPA etc. With that the
most important sector which they deal with is films which is related to the season, screenings,
matinees, Australian perspectives, Festivals, melbourne cinematheque and filmoteca etc. they
also provide education to the ACMI, teachers, students as well as serve learning resources and
organise some screen it competition.
There is 27% increase in the virtualisation in the year 2015, more than 22% of the
visitors are international. There is increase of the shop revenue by 123% as well as 41% have
been enhanced in active membership (Corazza and Mio, 2017). There is more than 79000
teachers and students that have been welcomed to the ACMI, 33000 at the white night and 34000
to the Bowie late nights and there is more than 18 festivals that is being hosted by the ACMI.
More than 543000 visitors that have attended the four exhibitions in the 6 international places
and 5 regional centrers. They have made 79 foreign language films, 38 nations have been
represented in the different films programs and 39 films have been directed by the women who
were champion in that field.
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They generate $2.8 million revenue from their websites, $1.4 million from the social
media platforms, $1.7 million from website visits, $4.8 million from the page views. They have
more than 95000 followers on their social media page from all over the world and 52000 internet
news subscribers. Australian Mediatheque have more than 220000 visitors. They have more than
45000 followers, 471360 are engaged with their content, more than 500000 video view's ans 23
million impression made on Facebook (Corner and Pavlovich, 2016) . There is 36% increase in
the follower on twitter, 6489 on instagram and they are having 193168 views per hour on
YouTube. They deliver world class experience to the audience by weaving the different layers of
interaction and programming which help them celebrate the screen culture. They are engaging
with the different audience in the exiting and new ways in order to sustain and grow. In year
2016. They have 1.45 million of visitors which have walked to the door of ACMI in order to
experience different type of learning through events, programs and education. They use their
unique space, knowledge, cutting edge technology and resources in order to make full
experience and retain the most film visited museum in the globe.
For the purpose of White Night Melbourne, they have animated the entire infrastructure
with the different programming such as Minnesota Walker Art Centre which is famous for the
Cat Video Festival as well as for the exhibition and film screening which have attracted 33000
people to the ACMI. They have also developed kid's trail which is 30 minute self guided tour
which is signed by the bespoke animated characters. These trail have been designed so that they
can encourage the proper interaction with the different range of experience in order to serve
proper learning about the different moving image. They organise screening programs on the
regular basis which help them build loyal customers who can experience the culture of ACMI in
several ways which includes different commercial offers at their shop, cafe and bar. The
members of the Aims are the most loyal stakeholders for them where there renewal rate have
been reduced by the 8% as well as they have welcomed more than 700 new members which
serve them several benefits such as exclusive previews and advance screenings which have
enhanced the attendees by 25000 in the 16 events in a year (Cukor and Cohen, 2016).
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Stakeholders are those people who have interest in organisation and get affected by there
actions or policies. It includes all the people related to organisation such as owner, director,
employee, customers, government etc. from which its business can manoeuvre. ACMI
stakeholder include the owner, director, employee, customer and also there supporting partner
Victorian government. In ACMI not all stakeholders get same benefits for e.g. there customer are
entitled with fair practices but not with the employee consideration. Under the guidance of
Katrina Sedgwick the company is flourishing and had become second highest attendance gallery
in Australia (Grant, 2016Kettner, 2017).
All the people in organisation help and contribute in their own way to uphold and
increase the value of company. Under the leadership of director all the employee work toward
the single aim in the progress of company. The director and his team of employee is responsible
for the new strategies and there implementation. He makes sure that company continue to keep
there vision of being a hub of innovation, literacy and creativity. He is responsible for more
funds and collaboration which favours the company. In recent times company have move
forward developing at great length and having many collaboration under its wings (Kramer, and
Pfitzer, 2016). The most recent collaboration the director made is with the National Film and
Sound Archive.
Collaboration with different organisation is not the only thing, adding influential people
in there board like Rachel Griffiths, Karen Corry etc. also help in increasing the value of
company. An organisation cannot progress without money, funds play a big part in the value of
company. ACIM, the biggest funding partner is Victorian government, through Creative
Victoria, and the Victorian Major Events Company they support ACIM providing them with
funds. It helps them and make it possible for them to launch there different programmes such as
there Creative state strategy (Ligonie, 2017). Other than Victorian government there are many
individual and organisational supporters who contribute in company value. Employees are vital
part of any organisation, with there effective and efficient working they add to the value of
institute. Any idea or strategy will be of waste if company doesn't have competent employees. Its
employee who work for the implementation of any strategy or programmes. Efficient employee
helps an institute to innovate and evolve at rapid pace. It further helps in attracting new industry
leaders and also give chance of experimenting new ideas. With so many opportunities and
freedom of experimenting, employees keep getting new experience which increase there
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effectiveness and there efficiency. Competent workers contribute to smoother working of
organisation. Consumer is another important part of ACIM in year 2015, there was attendance of
1.45 of million patrons to there Federation square museum. The no. of patrons add to the value
of organisation, to attract people in such a high number, new methods are regularly needed, 22%
of total visitors are mostly composed of international tourist and more than 79,000 of students
and teachers are welcomed in ACIM every year. Its necessary to create strategies and
programmes which pleases there customer so they remain loyal to your organisation. (Nichols,
2016)
Business and society
Business is the collection of different commercially oriented and private organising
which start with the single entity proprietorship to the medium sized like corporations,
partnership etc. when the business is being considered all the type of organisation is included in
it whether they are small size or large one. When the organisation is compared with the society at
that time big companies is being considered which earn large profits, produce quality goods and
have very strong advertisement. Society is the key factor while evaluating the business and the
relationship with the society. When it is talked about the social environment, it is the component
of macro environment. It has major focus on the culture, lifestyle, social values and
demographics of the society (Beschorner and Hajduk, 2017). These factors affect the demand
and supply of goods ans services of the organisation. There is very major relationship between
the organisation and society. The goods and services which is being produce by the company is
done because they need to satisfy the needs and wants of the customers. If the client is not
satisfied then the organisation will not able to grow even not able to services, to create
sustainability in the environment. The company need to focus on the social factors of the
environment so they can able to produce those goods which leads to create loyal customers.
There is one society which is not easy for the organisation to understand that is pluralistic
society. These create very complex relationship with the organisation, the pluralistic society is
the society where there is large number of diversity and decentralisation of the power
concentration. It reduces the freedom of action and expression in order to create the balance
between power of different people. So it very important for the organisation to identify the type
of society with they are dealing.
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Question 2
In the year 1950 they have involved in the manufacturing the number of films and
television programs as well as play the role of archive of Australian films for example
Sentimental Bloke. In the year 1960 they have provided advice to the film producers, script
writers, distribution outlet and local film makers. In the year 1970 they have started acquiring the
student films and newly films which is made by the vibrant Australian film industry. In the year
1988 they have organised the state film centre education programs which serve screenings for the
Victorian Certificate of Education students which is related to the core text as well as in service
days for the teachers. They have been awarded to the New and Australian Zealand emerging
artists and have been look in the back cover of Magazine (Corazza and Mio, 2017). In the year
2008 the magazine was partnered with the Gertrude contemporary for the new writer program,
after that they have regularly organising the different programs for the film makers in order to
manufacture more film projects and editions.
They have introduced their own website so that they can communicate their completion
of fifty years with the daily news. There was really large positive response from their customers,
with they the organising have decided to migrate to the online presence so that they can enhance
their focus on proper film making. The biggest problem they face is their payment for the
subscription on the online availability as the digital format. The subscribers can only access
some issues of the Australia film journal which is innovative and unique resource for the art
lovers, school and universities. They generally work for the film makers projects and editions,
education collaboration and cover commission (Corner and Pavlovich, 2016) .
Vision: They create art for every body, to help the people who have disadvantage for
making film in order to enhance the outcome of their life with the help of training, open
employment and other opportunities.
Mission: To pull in cultural ambition of the citizen by making different film in order to
work in the effective way by which they can extend and challenge nation of who is an artist, how
the creative activity is created and for whom it is made (Cukor and Cohen, 2016).
Values: They have different values which is divides into different categories, that are as
follows:
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1. Justice: They are the champions for giving proper rights to film artist by creating proper
movement and they create positive commitment to the citizen for leading and shaping
their practice
2. Courage: They do not have fear to explore new terrain which is bold by the citizen and
commit high quality id inclusive outcome and processes (Grant, 2016Kettner, 2017).
3. Resonance: Whenever and whatever they produce, advocate and present, their work
reflects the ambition of the people with the disadvantageous film makers and they react in
the proper way in order to wider the community which desire to challenge and transport
from the untold and original stories.
4. Connectivity: They nurture and value their relationship with their stakeholders as well as
harness the creativity of all the stakeholders in order to achieve their objective.
Question 3
Shared values of the company help in to define what is an organisation is, what can it do
and about what an organisation can be. These are usually the values of an organisation which are
commonly developed by the leaders and managers of the company and then adopted by other
staff member and employees to carry out the work in progressive direction. This can also be
referred as the core values and followed by all the members of the company. Shared values are
the strategies for the management by which companies found their various opportunities of
business. Shared values in an organisation are able to produce new directions in the growth of
productivity and innovation in the economy, by providing immense human needs, new market
and other internal costs of the Social insufficiencies (Grant, 2016Kettner, 2017).
Shared value can be created with the help of the solution which exists two various
principle which includes creating the economical values to creates measures for the society and
by addressing its challenges and different need. These shared values are able to reshape the
capitalism and its relationship to the society. Shared values is developed of three levels: -
 Re-conceiving markets and the products- This re-conceiving of products and market
values, consist of the meeting societal needs with the help of their potential products and
addressing customers who are undeserving and not served yet (Kramer, and Pfitzer,
2016).
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 Re-defining the productivity in the value chains- This level of shared value is the practice
of changing in value chain, which will help for the driving of productivity by the proper
utilizing of resources, business partner and the employees.
 Enabling Local Cluster development- This helps in the improvement of available supplier
base, improvement in current skills and a support to the communities where the
organisation is working in order to enhance the rate of productivity, growth and
innovation (Ligonie, 2017).
Shared values of ACMI is regularly increasing because of their stakeholders, the
stakeholders of the company are Continuously supporting for the introduction of new productive
strategies and innovation. In addition to this the stakeholders of ACMI are providing them with
various business opportunities, social need and the Corporate assets for to encourage the shared
values in the company and for the further development of an organisation (Nichols, 2016)
They have made commitment with the champion television and made partnership with
the broadcasters and different industries such as Foxtel, ABC, the director's guild of America, the
Australian director guild etc. in order to serve different ranges of screening events, celebrating
various television culture and productions. They have also presented the land site of the hit ABC
series. In June 2013 they have premièred drama of Foxtel Showcase’s Australian with is
followed by different question and answer secession with the producers and co-creators of the
Victoria Madden and Vincent Sheehan. They have recently presented official release of the
Developer enter the Gungeon which have positive feature that is it will serve proper
communication with the UK programmers (Porter and Frigo, 2017).
The organisation has various stakeholders such as customers, employees, suppliers,
shareholders, markets, competitors which can create the shared value for the organisation. It is
very important for the organisation to identify and fulfil the interest of the stakeholders so that
they can create loyal customers. In the year 2016 they have done several activities which help
them to create shared value to adopt and develop business model. The activities include, they
have re-aligned their communication, design and marketing teams in their studio with the help of
effective leadership to accomplish the objective of film maker (Beschorner and Hajduk, 2017).
With the proper assistance given by the Morris Hargreaves McIntyre which is renown research
consultancy, the organisation have organised detailed and proper analysis of the audience which
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includes effective observation on the different stakeholders. This gives proper insights to the
company to find the interest of the stakeholders and helps them to fulfil the interest of
stakeholders and satisfy them (Corazza and Mio, 2017).
CONCLUSION
It can be concluded from the project report that ACMI is the Australian museum for the
video games, film, digital culture and art. In the year 2016, more than 1.45 million people have
been visited which is the second highest attendance of the gallery in Australia. They are the
larget and most visited moving image museum in the world. The report includes different
stakeholders of the organisation such as customers, employees etc. and the different activities
which is done by the company in order to satisfy the interest of the stakeholders.
RECOMMENDATION
It can be recommend from the project report that ACMI should also focus on the other
sectors other than entertainment such as they can have old painting in their museum which is
related to their culture. This will help them to communicate about their culture and tradition to
the different tourist who visit to the musieum.
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REFERENCES
Books and Journal
Beschorner, T. and Hajduk, T., 2017. Creating Shared Value. A Fundamental Critique. In
Creating Shared Value–Concepts, Experience, Criticism (pp. 27-37). Springer International
Publishing.
Corazza, L. and Mio, C., 2017. Simulacra and Sustainability Disclosure: Analysis of the
Interpretative Models of Creating Shared Value. Corporate Social Responsibility and
Environmental Management.
Corner, P. D. and Pavlovich, K., 2016. Shared value through inner knowledge creation. Journal
of Business Ethics. 135(3). pp.543-555.
Cukor, D and Cohen, S., 2016. Patient and other stakeholder engagement in patient-centered
outcomes research institute funded studies of patients with kidney diseases. Clinical
Journal of the American Society of Nephrology, pp.CJN-09780915.
de los Reyes, G and Smith, N.C., 2016. Beyond the'Win-Win': Creating Shared Value Requires
Ethical Frameworks.
Grant, R. M., 2016. Contemporary Strategy Analysis Text Only. John Wiley & Sons.
Kettner, M., 2017. Between Enthusiasm and Overkill. Assessing Michael Porter’s Conceptual
Management Frame of Creating Shared Value. In Creating Shared Value–Concepts,
Experience, Criticism . Springer International Publishing.
Kramer, M .R. and Pfitzer, M. W., 2016. The ecosystem of shared value. Harvard Business
Review. 94(10). pp.80-89.
Ligonie, M., 2017. The “forced performativity” of a strategy concept: Exploring how shared
value shaped a gambling company's strategy. Long Range Planning.
Nichols, P. M., 2016. Creating Shared Value by Combatting Corruption. AIB Insights. 16(4).
p.11.
Porter, M. E. and Frigo, M.L., 2017. Managing healthcare costs and value. Strategic Finance.
98(7). p.24.
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Porter, M. E., 2016. Inner-City Economic Development: Learnings From 20 Years of Research
and Practice. Economic Development Quarterly. 30(2). pp.105-116.
Schneider, S., 2016. How to design a measurable shared value strategy: the case of Coca-Cola
Brazil (Doctoral dissertation).
Schramm, M., 2017. How the (business) world really works. Business metaphysics & “creating
shared value”. In Creating Shared Value–Concepts, Experience, Criticism. Springer
International Publishing.
Smith, N. C., 2016. From Corporate Philanthropy to Creating Shared Value: Big Pharma’s New
Business Models in Developing Markets. GfK Marketing Intelligence Review. 8(1). pp.30-
35.
Wieland, J. ed., 2017. Creating Shared Value–Concepts, Experience, Criticism (Vol. 52).
Springer.
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