Research on Innovation Creation Methods for Sustainable Development of Business and Society

Abstract

In recent years, there has been a widespread recognition that the business activities of corporations are the source of social, environmental, and economic problems, and many corporations have begun to think deeply about the sustainability of society. So far, many companies have worked to implement CSR as a corporate activity that contributes to sustainable development. However, the concept and application of CSR (Corporate Social Responsibility) have not brought direct benefits. However, by engaging in CSV (Creating Shared Value), companies can make a sustainable contribution to the sustainability of society. Therefore, it is necessary to consider effective approaches to this strategy. This study conducts with the objective of promoting the implementation of CSV by companies. First, this study reviews knowledge creation methods in organizations in recent studies from the perspective of CSV, focusing on Knowledge Creation Theory and Experiential Learning theory. Next, this study constructs an effective CSV approach based on the SECI model. Finally, the effectiveness of the developed methods for the sustainable development of business and society is discussed. The CSV is a strategy for creating shared value of social and economic value created by solving social problems through the core business. Its characteristics include placing value on economic and social benefits compared to costs, being endogenous, and being indispensable for maximizing profits (Porter & Kramer, 2011). Keywords: CSV, Experiential Learning, Knowledge, Sustainable development