Social Impact Assessment: Guidance for assessing and managing the social impacts of projects, published by the International Association for Impact Assessment in April 2015, suggests that shared value: ‘…is a way of thinking about the role of a company that recognizes that societal needs, not just conventional economic needs, define markets, and that the purpose of the corporation must be redefined as creating shared value, rather than just profit for its shareholders, so society benefits as well as the company. This view also acknowledges that social harms frequently create costs for firms in the form of social risks and therefore need to be carefully managed. For more information, refer to: Porter, M. & Kramer, M. 2011 Creating shared value. Harvard Business Review 89(1-2), 62-77. Hidalgo, C. et al. 2014 Extracting with Purpose. FSG.'
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